DWP: The date on which the second cost-of-living payment will be deposited into bank accounts; What time does the payment for the cost of living start? time when money will actually arrive in your bank account.

July 14, 2022By Abdulaziz Nchirrah

What you need to know about the arrival of the free £326 cost of living payments. Beginning Thursday, one in four households will get a government cost of living allowance. When should consumers expect the £650 and why is it divided into two? Cost of living payment date.

As part of the government's £37 billion support program, starting today, nearly one in every four families in England, Wales, Scotland, and Northern Ireland will get a direct payment of £326. A second installment of £324 will be given to recipients later this year. As part of the government's plan to aid households struggling with skyrocketing energy bills, cost-of-living subsidies will start to arrive in bank accounts for eight million homes nationwide starting today, Thursday, July 14. According to the Department for Work and Pensions, a first payment of £326 will be sent to low-income households receiving benefits.

The first £326 payments will begin landing in accounts this week, but the second instalment of £324 will be paid in a few months
DWP
The first £326 payments will begin landing in accounts this week, but the second instalment of £324 will be paid in a few months

Who is eligible, how do you acquire the money, and what other funding is on the way?

People who get means-tested benefits are the recipients of the grant.

What time does the cost of living payment go in? Exact time cash will hit bank account. (PA
What time does the cost of living payment go in? Exact time cash will hit bank account. (PA

According to the government, it will be distributed to more than eight million homes, including those getting the following:

  • Universal Credit
  • Jobseeker's allowance based on income
  • Income-related employment and support allowance
  • Income assistance
  • Working tax credit
  • Child tax credit
  • Pension credit
  • It warns that as of Wednesday, May 25, applicants must be receiving one of these benefits or have started a successful claim.
  • If you and a partner file a joint claim, you will each receive a payout of £650.
  • If someone can show that their income and capital are below a certain threshold, they may be eligible for means-tested assistance.
https://youtu.be/f-PRoysEikI

Rishi Sunak makes windfall tax U-turn to fund £650 payment to those on benefits | ITV News

How do I send a recommendation for the Cost of Living Allowance?

Those who qualify will automatically receive their benefits; they do not need to apply. Payments may show up in accounts as "DWP Cost of Living."

Those who qualify for a cost-of-living payment have been identified by the DWP and HM Revenue and Customs (HMRC).

Many people will receive the first installment between July 14 and July 31, but those who are eligible for tax credits will receive the first payment in the fall and the second in the winter of 2022.

When will the second £324 of the £650 Cost of Living Payment be paid?

The DWP has not yet released a precise time frame for when the second payments will be paid or for the duration during which applicants must submit valid benefit claims in order to receive the payment. When will the next installment be received?

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