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 via the Trustpower website. See instructions below.
- Rebate credited to your power account*:
The rebate will be credited to your power account. This will be the default payment option if you do not make any choice on the Trustpower website. See instructions below.
- 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 Trustpower 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.
What You Need to Do
If you are happy for your rebate to be credited to your Trustpower account, you do not need to do anything.
If you wish to select another payment option, go to www.trustpower.co.nz/tect.
1 | Log into your Trustpower MyAccount. If you don’t have MyAccount, click ‘Login’ on the top right-hand corner of the Trustpower website, then click ‘Register’. When the page opens follow the prompts to register for MyAccount access. Once registered, you will receive a confirmation email, and will be able to create a password to log in.
2 | After logging into your account, you will see a section called ‘My TECT Rebate’. From here, you can select to have your rebate paid into either your bank account, credited to your Trustpower account, or gifted to the Acorn Foundation. Select one of these options and click ‘CONFIRM’.
3 | If you select ‘Pay into my bank account’ you will be directed to the above screen. Fill in your nominated bank account details and click ‘CONFIRM’.
If you have any issues choosing your rebate payment option or setting up your bank account details, you can find answers to frequently asked questions at www.trustpower.co.nz/tect. You can also contact Trustpower by web chat at ask.trustpower.co.nz or call them on 0800 87 87 87 Monday - Friday 8.00am - 7.00pm.
* To qualify for the July 2022 rebate, you must have had a Trustpower power account in the same name from 1 October 2021 and continuously through until 31 March 2022.
* To qualify for the December 2022 rebate, you must have had a Trustpower power account in the same name on 1 April 2022 and continuously through until 30 September 2022.