Rebate Payment
Options

Please note, beneficiaries must make their payment option selection before the portal closes prior to each rebate payment. 

Eligible beneficiaries* now have the option to receive their TECT rebate direct into their bank account. There will be no more rebate payments via cheque. This change was proposed by the TECT Trustees in the Draft Annual Distribution Plan 2019-20, and feedback was positive.

There will be three options available to receive the rebate:

• Rebate paid direct into bank account:
  The rebate will be paid directly into your nominated bank account. You can provide your bank account details to Mercury by calling 0800 10 18 10.                  

• Rebate credited to your power account*:
  The rebate will be credited to your power account. This will be the default payment option.
  

• Rebate gifted to the Acorn Foundation Vital Impact Fund:
  You can choose to have your rebate gifted to the Acorn Foundation Vital Impact Fund. This fund invests your donation, so that it continues growing over time. Interest earned from this investment is distributed each year to deserving community organisations, so your donation keeps giving to your community – forever. You will be issued a donation receipt from Acorn Foundation and will be able to claim a 33.3% tax credit – so you can give back and get back! See instructions below.

* If you close your power account while any rebate payments (or part of any rebate payments) remain as credit on your account, and if Mercury is unable to contact you about the credit, that credit will be returned to TECT 12 months after the date the credit was applied to your account.