DWP alert as Brits urged to check bank accounts at 12pm on Friday | Personal Finance | Finance

Millions of people across the UK will receive their benefit payments three days early this month – but it’s not all good news. An expert has warned that the early payment, which will hit bank accounts on Friday, August 22, could put Brits in a tough spot over the next few weeks. The August bank holiday will fall on Monday, August 25, meaning benefit payments scheduled to go out on the 25th of each month will instead be paid out on the last business day beforehand.

This applies to benefits including Universal Credit, State Pensions, Personal Independence Payments (PIP), Carer’s Allowance, Jobseeker’s Allowance (JSA), Employment Support Allowance (ESA), Income Support and Pension Credit. Fiona Peake, personal finance expert at Ocean Finance, said those eligible should check their bank accounts at 12pm on Friday – and if the benefits haven’t been paid, quickly get on the phone to the provider before the beginning of the bank holiday, when “lines will be jammed”.

“Getting your money on Friday instead of Monday might feel like a win going into the long weekend, but it means you’ll have three extra days to stretch it,” Ms Peake said.

“That can throw your budget out, especially if you’re living week to week. It’s not always easy to hold back spending when your account’s just been topped up but blowing through your benefit early could leave you short when it really matters.”

“Most benefits hit accounts in the early hours, but if yours hasn’t arrived by midday Friday, check your bank again before panicking,” she added. “If nothing shows up, get on the phone. Contact Universal Credit, PIP or your relevant benefits line before 5pm [on] Friday so there’s still time to get help.”

The finance pro also warned benefit recipients against assuming they will always get their benefits early around a bank holiday.

“If your next due date falls on a normal working day, your payment will be back to its usual timing, and if you’ve spent early, you might already be playing catch-up,” she said.

Ms Peake also offered some tips to claimants worried about running short of cash over the next month. “It may sound extreme, but if you’ve got a habit of splurging as soon as money lands, hit pause,” she advised. “Most banking apps let you freeze your debit card instantly.”

“The early payment might not line up with when your bills go out, and that can leave you short just as rent or utilities come calling,” she added. “Log into your bank account now and check your Direct Debit dates. Shifting them by a few days can help you avoid missed payments and overdraft charges.”

“Don’t think of the early payment as a bonus,” she concluded. “It’s not. Treat Friday, August 22, like it’s your usual payday and plan your week as normal.”