Entrust prepares Aucklanders for a checkless dividend



344,500 Aucklanders living in Entrust District will start receiving Entrust Dividend Payment Preference Forms in their mailboxes from today.

Many Aucklanders look forward to receiving their Entrust dividend at the end of September of each year. A key change this year is that checks will no longer be a payment option to receive the dividend, due to the phasing out of checks by the banks. So it’s more important than ever that people carefully check their forms and choose their preferred payment method for this year.

Entrust chairman William Cairns said the decision to phase out checks was made by the banks, not Entrust, and the trustees knew the change would be frustrating for many payees who had historically chosen to receive their dividend by check each year.

“After the unprecedented year we have had and in these uncertain economic times, we understand that many families and businesses will rely on Entrust’s dividend this year and need it more than ever.

Mr Cairns said Entrust wanted to make it as easy as possible for dividend recipients to receive their dividend. People used to receiving a check should tell Entrust how they would like to receive their dividend this year.

“It’s really important that they send us their bank details now, as it will slow down their payment if we haven’t received their details by August 6th.

“By contacting us now, we can start setting up dividend day ready payment methods later in the year,” Cairns said.

People have a choice of two payment options: a direct credit to a bank account or a credit to their electric bill. Even though people don’t need to update their payment preferences, it’s important that they verify that their information is correct.

There are two things to check on the forms to help make the dividend payment process as smooth as possible:

• Check that the name on the Entrust form is exactly the same as your bank account. If not, ask your electric retailer to update the name on your electric bill to match.

• If you need to change your payment method, update the form and return it before Friday August 6, 2021.

The Entrust dividend is the largest dividend paid in New Zealand.

Last year, 340,500 households and businesses received $ 280, injecting $ 95 million into Auckland’s economy. The annual dividend is paid to eligible Entrust beneficiaries at the end of September.

Entrust District encompasses Auckland, Manukau, northern parts of Papakura and eastern Franklin which are connected to Vector’s power grid.

Entrust Dividend Payment Preference Forms will appear in mailboxes starting today.

For more information, visit
or www.facebook.com/entrustnz

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