Cost of living £650 payment – everything you need to know including the exact code to look out for

MILLIONS of struggling households are starting to receive the first part of £650 payment – here’s what you need to know.

The £650 cost of living payment is part of a package of measures unveiled by former Chancellor Rishi Sunak to help vulnerable UK households.

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But who is eligible and when will you get the cash?

Here’s everything you need to know:

Who will get the £650 cost of living payment?

Millions of people on mean-tested benefits will be eligible to get the £650 payment.

Here is the full list of benefits which qualify for the cash:

• Universal Credit
• Income-based Jobseekers Allowance
• Income-related Employment and Support Allowance
• Income Support
• Working Tax Credit
• Child Tax Credit
• Pension Credit

Crucially, the payment is one per household – so if more than one person at your address receives one of these benefits, it does not mean you’ll get more cash.

But those on other benefits may not get the money.

Here is the full list of benefits which won’t get the cost of living payment:

• Attendance allowance
• Carer’s allowance
• Child benefit
• Disability living allowance (DLA)
• Contributory, or “new style”, Employment and Support Allowance (ESA)
• Guardian’s allowance
• Contribution-based, or “new style”, Jobseeker’s Allowance (JSA)
• Maternity allowance
• Personal Independence payment
• State pension
• Statutory adoption, maternity, paternity and shared parental pay
• Statutory sick pay

When will I get the £650 cost of living payment?

The money will come in two chunks – one of £326 and the second of £324.

The first half started to hit bank accounts this week, with payments being rolled out from July 14.

The exact date you get the payment will vary though – money will be dished out over the next two weeks, so you may not get your cash until the end of the month.

The DWP say it’s because there are millions of payments that need to go out and they can’t all be processed on a single day.

Those on tax credits will have to wait a little longer though. Around 1 million people on legacy benefits will see a delay to the payment.

Instead, these claimants will get the first payment in autumn and the second in winter – the exact dates have not yet been announced.

To get the first half of the payment, you needed to be on eligible benefits or have begun a claim which goes on to be successful, as of May 25 this year.

If you miss that date and claim Universal Credit after this then you could still be eligible for the second half of the payment later in the Autumn.

How will I know when I’ve got the money?

Payments will be made directly into the bank account into which you receive your benefits, but it will be a separate payment to your usual one.

There is a code you should look out for on your bank statement, which will let you know the payment has been received.

Any transaction where money is coming in or going out of your bank account has something to identify where it’s from – like a shop name.

You should spot the words: DWP Cost of Living by the transaction when it arrives.

What other dates do I need to know?

There is plenty of support coming for hard-up households this year, so it makes sense to note on your calendar when to expect it.

Here are all the cost of living payment dates you need to know:

• September: 6 million people with disabilities get £150
• Autumn: tax credits claimants get first half of £650 payment
• From October: All households start to get £400 energy bill discount
• November/December: Low income pensioners get £300 cost of living payment

If you’re not eligible for these payments, you could still qualify for other help. The Government’s Household Support Fund is a £1.5billion dished out by local councils to help people in their area.

A number of energy firms also offer hardship grants to those in debt with their bills.

Cost of living payments: what you need to know

• All the key dates for cost of living payments revealed
• Every household will get a £400 cost of living payment to help with energy bills
• See the full list of benefits eligible for £650 cost of living cash
• Here’s free cash you can get if you DON’T qualify for the £650 cost of living payment
• Millions of pensioners will get a £300 cost of living payment this winter
• Disabled Brits will get £150 this September
• Parents can get up to £200 towards school uniform costs