With the August 26th bank holiday fast approaching, you might be wondering what day your child benefit will be paid on. This is all you need to know about when you'll receive the money.
Child benefit is crucial for many families, offering up to £1,331 a year to help with the cost of raising your child. If you have more kids, you could be entitled to even more. With average childcare costs on the rise, it's never been more important for parents to take advantage of the financial support they are entitled to., from child benefit to the tax-free childcare allowance.
But with child benefit usually paid on a Monday or Tuesday, your payments can be thrown off the usual schedule by a bank holiday. This can be really stressful if you are expecting a payment on a specific date and it doesn't arrive. But the good news is that you may actually get your payment earlier than expected.
What day is child benefit paid?
Child benefit is usually paid every four weeks on a Monday or a Tuesday. If you are a single parent, or you or your partner receive certain other benefits like Income Support, you may get your child benefit payment weekly instead.
You can usually work out when you will get your payment by counting four weeks from the last instalment. However, this doesn't work when your payment date looks like it will fall on a bank holiday, as the government will change the payment dates.
Money expert Andy Wood says: "Bank holidays often disrupt the regular schedule of benefit payments, which can be concerning for those who rely on this income. With the August bank holiday falling on a Monday, payments from the Department for Work and Pensions (DWP) and HM Revenue and Customs (HMRC) are being moved to the previous working day to ensure that recipients still receive their funds on time. This adjustment helps prevent any financial strain that could arise from delayed payments."
"Changes in payment schedules, such as those occurring due to the August bank holiday, are significant for vulnerable populations... An early payment ensures that these individuals, many of whom live on tight budgets, can maintain their financial stability without interruption."
When is the bank holiday child benefit payment being moved to?
Any child benefit payments that would normally be due on Monday 26 August, will actually be paid on Friday 23 August instead. This applies to other benefits too, including universal credit.
And looking back at previous bank holidays in 2024, the benefits have all been due to arrive earlier, rather than later, which can help families plan their budgets better. For example, the payment due on 1 April was made on 28 March, and the one due on 27 May was paid on 24 May.
You might have seen news coverage earlier in the summer about child benefit payments being delayed. This delay impacted around 577,000 families, and caused worry and even faced charges for going into their overdraft or having a failed direct debit payment as a direct result of the delay. However, this wasn't down to a bank holiday, it was due to a 'processing error', which is unlikely to be a regular occurrence.
Want more? We explain how not claiming child benefit can impact your future finances, why your child benefit might have gone down, and how child benefit might be made fairer.
