While Shaw's recent purchase of Wind Mobile for $1.6 billion is still pending approval from Industry Canada, it seems as though Wind Mobile will restructure its WINDtab system effective March 22. Under the current system, Windtab deducts 10-percent of your monthly payment and applies it towards the outstanding balance on your WINDtab account. Wind say that in order to simplify things, starting March 22, an equal amount will be applied towards the subscriber's balance. Wind stated in a note to subscribers, "We've simplified how WINDtab works. As of your next invoice, WINDtab balances will now decrease by an equal amount each month, and you will be able to make partial payments too. The new monthly WINDtab reduction will be calculated by dividing the remaining WINDtab balance by the number of months until Pay Off Promise."
WINDtab lets you reduce the amount you pay on a phone - Wind Mobile puts a portion of the price of the phone on a 'tab' which they pay off as the user makes their monthly payments. The WINDtab is paid off over a period of 24 months - up until now, Wind would take 10-percent of your monthly payment and apply it towards your balance. Starting March 22, if you are eligible to run a WINDtab, you can elect to put all or a portion of your device on a 'tab' depending on what plan you select. The balance on your WINDtab will be divided by the number of months until your "Pay Off Promise date" and that amount deducted from your balance each month you make a payment. You can also make partial payments to reduce your WINDtab balance. In the vast majority of cases, you may be eligible for an earlier upgrade because your WINDtab balance will generally be lower.
Under the old WINDtab calculation - $40 monthly plan fee at 10% would equal a $4 monthly WINDtab reduction. After 12 months, you would have a $48 ($4 x 12) total WINDtab reduction. For a $250 WindTab, you would deduct $48 for a $202 balance.
After March 22 with the new calculation, you will take your WINDtab of $250 and divide by the 24 months for a $10.42 monthly WINDtab reduction. After 12 months you will have a $125.04 ($10.42 x 12) total WINDtab reduction and $250 - $125.04, leaving only a $124.96 balance owing on your WINDtab. The new calculation will reduce your balance from $202 to only $125.04.