MILLIONS of households are set to receive £299 free cash this week and they should look out for a specific code.
The cost of living cash started landing in the bank accounts of those on certain benefits from February 6.
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It will then continue to be issued until February 22.
It will be automatically credited into the bank accounts of those who qualify for the tax-free payment.
The payment reference will be the recipient’s National Insurance number followed by DWP COL or HMRC COLS.
For example, if your NI number is JT 83 42 97B, your payment will show up as “JT 83 42 97B DWP COLP” or “JT 83 42 97B HMRC COLP” on your bank statement.
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Brits were previously reminded not to panic if their money didn’t come in as soon as February 6 hit.
The £299 payment is being distributed to more than eight million people across 17 days, so yours could take longer than others.
Who is eligible for the cost of living cash?
The full list of benefits that qualify people for the payment is:
- Universal Credit
- Income-based jobseekers allowance
- Income-related employment and support allowance
- Income support
- Working tax credit
- Child tax credit
- Pension credit
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You need to have been entitled to a payment of any of the qualifying benefits above between November 13 and December 12 to be eligible for the free cash.
If you were later found to be entitled to any of the above benefits between the same dates you will also be eligible for the payment too.
Households on tax credits only will receive their payment from HMRC after the others are paid by the DWP.
This is to ensure that those on other benefits and tax credits will not get the payment twice.
What other help is coming?
If you don’t qualify for the £299 cost of living payment, or even if you do and still need help, there is other support on offer.
The Household Support Fund is one option. It is worth £842million and has been shared between councils in England.
They then decide how to distribute their portion.
But what you are entitled to vary on where you live as each local authority sets its own eligibility criteria.
In the vast majority of cases, you will qualify if you are on benefits or a low income, or struggling financially.
You should approach your council to see if any help is on offer. You can find what council area you fall under by using the Government’s council locator tool online.
You might also be able to claim a free grant from your energy firm if you’re struggling to make payments.
British Gas, Octopus Energy and EDF are some of the major companies that offer help.
Eligibility requirements vary depending on the firm, but you’ll usually have to provide evidence you’re in energy debt or facing fuel poverty.
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The Government classes fuel poverty as when a household has to spend a “high proportion” of its income to keep the temperature at a reasonable level.
It’s worth checking if you qualify for benefits too, after the latest figures from analytics company Policy in Practice revealed £19billion worth of support goes unclaimed each year.
