Reader TTS

CASH PAYMENTS ARE ON THE WAY FOR MILLIONS - BUT OTHERS WILL LOSE OUT 14:39, 02 Jun 2025 A number of money changes are happening during June, impacting the finances of millions of Brits. It

will be a crucial month as money enters bank accounts for some people, while millions of savers take a hit as interest rates fall. It can be hard to keep across what is happening when it

comes to finances, so we have put together a quick rundown of some of the important money changes happening this month. READ MORE: EXACT DATE £200 COST OF LIVING PAYMENT WILL BENEFIT MIDLAND

HOUSEHOLDS GET OUR BEST MONEY SAVING TIPS AND HACKS BY SIGNING UP TO OUR NEWSLETTER NATIONWIDE £100 BONUS PAYMENTS Article continues below Banking giant Nationwide has announced a major

cash giveaway for over four million customers. People who have a current account, as well as either a qualifying savings account or mortgage will get the £100 bonus payments, part of the

building society's Fairer Share scheme. Cash will be entering bank accounts for those eligible between June 18 and July 4. NATIONWIDE AND NATWEST CUTTING SAVINGS INTEREST RATES

It's not such good news for Nationwide savers, however. The building society has slashed interest rates on a number of its savings account, hitting how much savers make in returns. New

rates came into effect on June 1 and the decision came after Bank of England interest rate cuts. Rival NatWest has also reduced rates on some of its top savings account as of June 2. Savers

have been encouraged to look for better deals elsewhere which give them healthier returns. SUMMER COST OF LIVING PAYMENTS Local councils have received a further round of funding for hardship

payments, targeting low-income residents most in need of support. People can make applications for Household Support Funding cash to their local authority, with payments worth hundreds of

pounds potentially available. Birmingham City Council is reopening its application process during June and is offering £200 payments to those eligible. Those suffering financial hardship,

and struggling to afford basic essentials, will be treated as a priority. Full details can be found on your local council's Household Support Fund (HSF) pages online. LLOYDS HIKING FEES

ON TOP ACCOUNT Banking giant Lloyds has increased fees on its Club Lloyds account, from £3 a month to £5 This is unless you ensure £2,000 goes into the account every month. Then the monthly

fee is waived. Those who don't put £2,000 into the account will be hit by the hike, and may want to consider if the account is still right for them. PIP CUTS VOTE The Government is

proposing controversial reforms to Personal Independence Payments (PIP) which could see hundreds of thousands of claimants lose the support. Article continues below It will also become more

difficult for new claimants to qualify for the daily living element, currently worth up to £110 a week. While the changes aren't due to come into effect until November next year, a

crucial vote in Parliament is expected during June. It should pass given Labour's huge majority, but dozens of unhappy Labour MPs could rebel.