ICBC confident gas rebates will be distributed by end of July

The push is on for ICBC to send out all of its remaining gas rebate cheques by the end of July, as was previously promised.

The public insurer says everyone who “signed up for direct deposit” — totalling 25,000 rebates — has been given their money. Rebates have also been given to eligible customers via credit card. However, many British Columbians have reported that they have yet to see that.

“All other customers, including those who paid by debit, cash, cheque or payment plan, as well as customers whose credit cards could not be processed (for reasons including expiry dates or other technical reasons), will receive their rebate as a cheque,” ICBC said in a statement to CityNews.

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ICBC says in the email that it’s “processed all 2.8 million cheques,” which are reportedly being printed and delivered to Canada Post for delivery daily.

The insurer reaffirms that it’s on track to have all rebates out by the end of July.

In total, ICBC says it’s sending out around 3.5 million rebates, totalling about $396 million.

The money is part of a promised made by the provincial government in March 2022, due to high gas prices. The ICBC website says the rebate is meant to “help ease the financial challenges facing drivers in our province right now.”

British Columbians who had a personal basic auto insurance policy active at any time in February are eligible for $110. Commercial drivers get a bit more money, $165, with Premier John Horgan previously noting these people tend to have higher expenses.

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Initially, drivers were told they could expect the rebate in May and June.

Gas prices have skyrocketed across Metro Vancouver in recent months, surpassing the $2.30 per litre threshold in some cases.

While prices have fallen in recent days, a litre of regular is still hovering at about $1.95.

Metro Vancouver has some of the highest fuel taxes across the country.

Editor’s note: This article has been updated to show those who signed up for direct deposit have been given rebates — not those who paid by direct deposit.