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Competition is good. Case in point: Verizon Wireless has launched a new rate plan for calling and texting to, and roaming in, Canada and Mexico, just a couple weeks after T-Mobile launched its new Simple Choice North America plan, or “Mobile Without Borders.”

However, in typical Verizon fashion, it’s not nearly as good. For $5/month, postpaid and prepaid customers can call Mexico and Canada for no additional per-minute charges, and minutes deducted from their current plans. When traveling to Canada or Mexico, customers will receive 500 minutes and 500 outgoing text messages (incoming texts while roaming are free). For an additional $25 per line, customers can get 1GB of data, with additional data costing $10 for each 100MB (that’s about $100 per gig).

If you don’t want to pay $5 per month, Verizon will charge you $0.99 per minute, and $2.05 per megabyte.

Nice try, Verizon, but it’s not good enough. When T-Mobile is offering free roaming, including calling, texts, and high speed data, at no additional charge (or $10/month if you are on a grandfathered plan), you should really come up with something better.

[RCR Wireless]