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Exact code to spot when £324 cost of living direct payment lands in your bank account – and it could hit this week

MILLIONS of households could start receiving a £324 cost of living payment this week.

Here’s how to spot when the money lands directly in your bank account.

Households will get the cash from either the DWP or HMRC

The payment will land automatically in your bank account if you are eligible – so you don’t need to do anything to get the help.

But it’s important to keep checking your account to make sure that it has come through and to do this you’ll need to look out for a specific code.

Around eight million households have already been paid the first part of their £650 payment – but the next payment is due.

The first instalment of the cost of living payment, worth £326, was paid in July, with those on tax credits paid later in September.

Anybody receiving the following benefits is eligible for the second half of the £650 cost of living payment worth £324:

  • Income-based Jobseekers Allowance
  • Income-related Employment and Support Allowance
  • Income Support
  • Working Tax Credit
  • Child Tax Credit
  • Pension Credit
  • Universal Credit

The next payment will land in bank accounts between November 8 and 23, unless you receive tax credits.

This is to avoid duplicate payments where people claim both tax credits and another qualifying benefit.



If you don’t receive tax credits but do claim any of the other benefits listed above then you’ll be paid the cash by the Department for Work and Pensions (DWP).

You’ll be able to see when the money has landed in your bank account by looking for a reference which starts with your national insurance number, followed by “DWP COL”.

Households claiming tax credits will be paid by HMRC and will get the £324 payment between November 23 and 30.

Anyone who claims both types of tax credits – child tax credit and working tax credit – will have the payment made into the bank account where child tax credits are paid.

You’ll know when the money has landed in your bank account by looking for a reference which starts with your national insurance number, followed by “HMRC COL”.

You must have been entitled, or later found to be entitled to any of these benefits, between August 26 and September 25 this year.

Cost of living payments are tax-free, do not count towards the benefit cap and do not affect the amount you usually get from benefits.

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