Thousands could receive £500 payment straight to their bank accounts

Thousands of households across the country could see a payment of £500 landing in their bank accounts.

Struggling families could be granted a payment of hundreds of pounds to help with the mounting cost of living.

It's all thanks to the Household Support Fund, which was launched back in 2021.

Funding - which is worth £421 million - is handed out to local councils, who distribute grants to households across various regions in the UK.

Brits could be entitled to a payment of up to £500. (Getty Stock Photo)

The amount you can access depends on where you live and your own financial circumstances as well as the benefits you are already entitled to.

The gov.uk website explains that the funding is aimed at 'anyone who’s vulnerable or cannot pay for essentials'. For example, struggling households in Luton can apply for a payment of £500 per household.

They also add that 'you do not have to be getting benefits to get help from your local council'.

How people receive their payments will depend on how they pay their council tax.

Those who are eligible for payments and pay their council tax by direct debit will see funds go directly into their bank accounts.

Payments could land in bank accounts. (Getty Stock Photo)

However, if you pay your council tax via cash payment, or by standing order or bank transfer - or if you do not have to pay council tax - you should receive a Post Office Payout voucher.

This can be cashed at any Post Office branch.

Part of the fund can also be paid in shopping vouchers, with the gov.uk website explaining: "£421m has been made available to County Councils and Unitary Authorities in England to support those most in need with the cost of essentials via the Household Support Fund.

"This funding covers the period 1 April 2024 to 30 September 2024 inclusive. Councils decide how to run their schemes. There may be differences in eligibility criteria, if or how you need to apply [and] who money is given to.

The payments are intended to help with the cost of living. (Getty Stock Photo)

"For example, some councils share out money through local charities and community groups and some limit household applications to one per year. Check with your local council to find out what support is available."

The deadline to apply for the Household Support Fund is 30 September 2024, so if you still need to find out if you're eligible, it's best to enquire sooner rather than later.

You can find out more information on the fund here.