Thousands notice surprise cash boost in bank accounts amid €400 lump sum

Thousands of Irish people noticed a cash boost in their bank accounts this week after a number of Budget 2025 measures came into effect.

678,000 families across Ireland received a double child benefit payment this week. The normal rate of €140 per child was upped to €280 in October's Budget. The payment was made on November 5.

Another double payment of child benefit will land in accounts from December 3, but a number of Social Welfare recipients are also receiving a financial boost this week.

400,000 households on the fuel allowance are due a €300 lump sum to help with heating bills as winter sets in. 

A €400 payment is due this week for 46,000 households on the Working Family Payment, while 213,000 people with disabilities receive a €400 support payment for rising costs. 

The first of the two €125 Government energy credits will also be applied to bills this month with the second one landing early in the new year.

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The credits totalling €250 were announced as part of the Budget in early October and continue a trend over the last few years as the Government aims to address the cost of living crisis and rising energy bills in particular.

Every billpayer in the country will receive the energy credits with no means tests and the Government have given an update on when they might land on bills, however, some customers must take a number of steps to get the credits taken off their bill.

Citizens Information says: "The energy credit will be paid in two instalments of €125. The first payment will be made before the end of 2024, the second will be made in the new year. The Government is aiming for the first €125 to come off bills in November with the second off the first bill in January.

Standard pay as you go customers with Electric Ireland must purchase credit and take additional steps to see the credit funds applied. 

In a statement, they said: "On October 1st, 2024, the Government announced that electricity credits for households totalling €250 (€229.36 + €20.64 VAT) will be available in two instalments of €125 (€114.68 + €10.32 VAT). The Government Electricity Credit will be automatically available to residential electricity customer accounts and no action will be required from the customer.

"The first credit instalment of €125 (€114.68 + €10.32 VAT) will start to be available from November 1, 2024. Some households may not be able to view this credit on your bill until December or January depending on when you are due to bill.

"The second credit instalment of €125 (€114.68 + €10.32 VAT) will start to be available from January 1, 2025. Some households may not be able to view this credit on your bill until February or March depending on when you are due to bill."

They warn that for PAYG customers the application of the Government Electricity Credit will follow a different process.

Smarter Pay as You Go Meters

The Government has stated that the credit will be a €250 (inc. VAT) and will be available in two instalments of €125 (inc. VAT).

The first credit instalment of €125 will be automatically applied to your Smarter PAYG meter from November 1, 2024.

The second credit instalment of €125 will be automatically applied to your Smarter PAYG meter from January 1, 2025.

Standard Pay As You Go meters

The Government has stated that the credit will be a €250 (inc. VAT) and will be available in two instalments of €125 (inc. VAT).

The first credit instalment of €125 will be available from November 1, 2024.

The second credit instalment of €125 will be available to customers from January 1, 2025.

"Our standard PAYG meters have limitations that do not allow us to apply the credit automatically," Electric Ireland said.

"The steps required to avail of the electricity credit are outlined below. There is no expiry date on the vend codes, so you can vend when it suits you to collect the credit.

"Topping up is easy and there are multiple flexible ways to Top Up your PAYG meter.

1. Buy a €10 electricity top up. This purchase will provide you with a vend code.

2. Go to your PAYG meter and input your vend code, this code will add €125 government credit and your €10 top up to your account (total €135).