MARTIN Lewis has issued a warning to millions of households over the £150 cost of living payment.
Millions of people have already started to receive the tax-free cash.
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In total, six million people will get the support directly into their account between now and July 4, to help them with soaring costs.
But Martin Lewis‘ MoneySavingExpert (MSE) are warning people to beware of scammers trying to cash in on the cost of living crisis.
The team said: “Watch out for scam texts or emails inviting you to claim or apply for the payment.
“The Department for Work and Pensions (DWP) has said it’ll never ask you for personal details or banking info over text or email.”
Criminals often exploit the financial pressure on people by luring them in with offers of help and advice.
They may pose as the DWP on social media and ask you to send your personal information or bank details in order to get payment.
But you end up with nothing and the criminals steal your cash.
So it’s important that you know if you’re eligible for the cash, and how you will be paid. We explain all below.
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Who qualifies for the £150 cost of living payment?
You have to be receiving certain benefits to qualify for the £150 cost of living payment. These are:
- Disability Living Allowance
- Personal Independence Payment
- Attendance Allowance
- Scottish Disability Benefits (Adult Disability Payment and Child Disability Payment)
- Armed Forces Independence Payment
- Constant Attendance Allowance
- War Pension Mobility Supplement
A small number of people will see the £150 land in their accounts after July 4.
This will apply if you were awaiting confirmation of your eligibility for the qualifying benefits on April 1.
The £150 payment will be paid directly into eligible people’s bank accounts – you don’t have to apply.
The code to spot in your statement will be your national insurance number followed by “DWP COL”.
What to do if you are scammed
Call your bank immediately using the number on the back of the card.
Tell Action Fraud, report it online or by calling 0300 123 2040 (Monday to Friday, 8am-8pm).
It will tell the police and give you a crime reference number.
Some banks offer automatic refunds – but it does vary.
Current rules say if you have not authorised the payment then you should get a refund as long as you did not act fraudulently or with “gross negligence”, for example, giving away your PIN number or password.
In 2019 some banks, including Barclays, Santander and HSBC signed a voluntary scam code launched in 2019.
TSB has a fraud refund guarantee in place where it will refund you as long as you are clearly an innocent victim of a con.
Using a credit card when shopping online gives you more protection as you are covered under the Consumer Credit Act, which says you are entitled to a refund if items are not delivered or are not as described.
You can complain to the Financial Ombudsman Service if you are not happy with how your complaint was dealt with.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected]
