The $250 cost-of-living payments are going into bank accounts from today. Here's what you need to know

Those eligible for the payment won't need to do anything to receive it — it's paid automatically.   (ABC: Michael Janda)

From today, people eligible for a $250 cost-of-living payment will start receiving the one-off bonus from the federal government.

Here's how the payment works.  

Who is eligible?

People on certain Centrelink and Veterans Affairs payments and some concession card holders. 

Here's the list of eligible Centrelink payments:

• ABSTUDY Living Allowance
• Age Pension
• Austudy
• Carer Payment
• Carer Allowance, but only if you're not getting another income support payment
• Disability Support Pension
• Double Orphan Pension
• Farm Household Allowance
• JobSeeker Payment
• Parenting Payment
• Special Benefit
• Youth Allowance for students and Australian Apprentices
• Youth Allowance for job seekers

Here's the list of Veterans Affairs payments:

• Service Pension, Partner Service Pension, Income Support Supplement or Veteran Payment
• Disability Compensation Payment (separate to the $6.20 fortnightly payment)
• Special Rate Disability Pension
• Permanent Impairment compensation (including lump sum payments taken in the past)
• War Widow(er)'s Pension or Wholly Dependent Partner payment (including lump sum payments taken in the past)
• Gold Cards, Commonwealth Seniors Health Cards and Pensioner Concession Cards
• Age Pension paid by DVA
• Education allowance under Veteran Children's Education Scheme or Military Rehabilitation and Compensation Act 2004 Education and Training Scheme for recipients aged 16 and over

And here are the eligible concession cards:

• Commonwealth Seniors Health Card
• Pension Concession Card if you're not getting an income support payment
• DVA Gold Cards

You have to have been residing in Australia on March 29 to qualify for the payment. 

Can I get two payments?

No.

Even if you both receive an eligible payment and have a concession card, you only get one cost-of-living payment. 

Was I supposed to apply for it?

No. 

The payment will be made automatically.

How will I know if I've received it?

You should receive it the same way you receive your other Centrelink or Veterans’ Affairs payments — so check the bank account where your payments usually go. 

You'll also be sent a letter confirming the payment has been made. 

Are there any limits on how I can spend the money?

The payment was spruiked as a bonus to help with the rising cost of living. 

But how you choose to spend it is entirely up to you.