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David Bentley & Mike Kelly

DWP cost of living payments - exact time they should go into your account from today

Today will see the arrival of the first instalment in a £650 cost of living payment from the Department for Work and pensions. Around eight million low income households qualify for the cash, according to the government, which will come in two separate amounts, reports BirminghamLive.

The initial £326 payment, "for most people" according to the DWP, will be sent out between July 14 and 31. Others may receive it later, with DWP minister David Rutley explaining: "Due to the volume of people entitled to the payment, it is not possible to issue all of the Cost of Living Support Payments at the same time.

"We currently expect the majority of payments to be made by the end of July, there may be potential delays for a small minority of cases due to their unique characteristics."

Read more: DWP: When the second cost of living payment will be paid into bank accounts

The payment is tax free, won't count towards the benefit cap and will not have any impact on the amount anyone already receives in state support, the Government guidance says. Payments will go directly to households across the UK in the same way you receive your regular benefits, such as a bank or building society account.

What date will you get cost of living payment?

Here are the dates for the cost of living payment, depending on which qualifying benefit you receive:

Benefit or tax credits Cost of Living Payment When you’ll be paid
Universal Credit £326 Between July 14 and 31, 2022, for most people

£324 Autumn 2022
Income-based JSA £326 Between July 14 and 31, 2022, for most people

£324 Autumn 2022
Income-related ESA £326 Between July 14 and 31, 2022, for most people

£324 Autumn 2022
Income Support £326 Between July 14 and 31, 2022, for most people

£324 Autumn 2022
Pension Credit £326 Between July 14 and 31, 2022, for most people

£324 Autumn 2022
Tax Credits £326 From autumn 2022

£324 From winter 2022

The DWP warned your payment might come later if, for example, you are awarded a qualifying benefit at a later date or you change the account your benefit or tax credits are paid into. You will still be paid the Cost of Living Payment automatically and do not need to contact DWP or HMRC.

What time should cost of living payment go in?

Depending on your bank, funds are available sometime after midnight on the day they are due, usually in the early hours. Some banks deposit money into your account around 11.30pm so you can withdraw it before midnight on the due day.

Others will release your funds at midnight or just a few minutes after that. But in some cases you have to wait until 2am to 3am and others will not let you touch your money until at least 6am on payday.

These are the typical paying-in times for banks:

Clydesdale, Yorkshire - 11.30pm the night before to 12.30am

Lloyds - midnight to 1am

Bank of Scotland - midnight to 1.30am

Metro Bank - midnight to 2am

Barclays , Co-op- 1am to 2am

Natwest, RBS, Ulster Bank, Nationwide - 2am to 3am

Halifax - 3am to 4am

HSBC, Santander - 6am to 9am

You could get up to three different types of payment from DWP depending on your circumstances on a particular date or during a particular period:

  • a Cost of Living Payment (£650), if you get a qualifying low-income benefit or tax credits
  • a Disability Cost of Living Payment (£150), if you get a qualifying disability benefit
  • a Pensioner Cost of Living Payment (£300), if you’re entitled to a Winter Fuel Payment for winter 2022 to 2023

However, you will not get the £650 payment if you get New Style Employment and Support Allowance (ESA), Contributory Employment and Support Allowance (ESA), or New Style Jobseeker's Allowance (JSA) - unless you also get Universal Credit.

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