How Aussies will get an extra $250 in their pocket

A handy $250 will start dropping into the bank accounts of more than 5 million Australians from next week.

A handy $250 will start dropping into the bank accounts of more than 5 million Australians from next week.

It will be the fourth payment as part of the Federal Government’s Economic Support for those eligible and be a welcome boost to many hip pockets.

Services Australia’s general manager Hank Jongen says the cash bonus will assist many Australians on low incomes who have battled during the pandemic.

“Services Australia has been at the forefront of the Australian Government’s response to the COVID-19 pandemic, providing support to millions of Australians — including the three Economic Support Payments that were delivered in 2020,” he says. “The Economic Support Payment of $250 will be automatically paid to customers living in Australia who received an eligible payment or held a concession card on 26 February, 2021.” The support package has delivered more than $10 billion to lower income earners including pensioners, other social security and veteran income support recipients and eligible concession card holders.

National Seniors chief advocate Ian Henschke says the $250 “will be a real help for people”.

“People are struggling and we know many older Australians are often relying on a little bit of extra work as well. For those relying on bank interest they’ve seen that disappear. This could mean being able to make a trip to the dentist, they’re the sort of things people put off if they don’t have extra money.”

Henschke says if you have received the previous three payments you should get this payment. The payment will appear in recipients’ Centrelink online accounts on their myGov account or Centrelink app about 48 hours before arriving in their bank account.

People should make sure their bank account details are up to date. Log into your Centrelink account and update details if necessary.