A MAJOR boost is set to hit thousands next month with six money changes announced.
However, it’s not all good news with the price of a pint set to rise once again in February.
There will be some benefits seen during the 28 day month that were announced as part of Budget 2025.
There are also some banking changes that will see cashback in the pockets of Irish bill-payers.
And a new instalment credit card payment scheme is also on the cards.
Social Welfare recipients will also see a change to their payment dates next month.
Here are the key February changes you should know:
PINT PRICE RISE
There’s bad news for anyone hoping to enjoy a pint after dry January, as it’s going to be much harder on the pocket.
This will push the cost of a pint in most Dublin pubs over €7.
Diageo will increase the price of some of their beverages by 6 per cent excluding VAT from February 3.
This will hit Guinness, Harp, Smithwicks and Hophouse 13.
ELECTRICITY CREDIT
It was announced as part of Budget 2025 that every household in Ireland would be receiving two lump sums towards their electricity.
This payment is automatically applied to your energy bill in the form of two €250 amounts.
The first payment was made in the last few weeks of 2024.
The next lump sum amount will be paid out to Irish customers before the end of February.
SOCIAL WELFARE PAYMENT DATES
Social Welfare recipients will see a change to their payment dates in February as a result of the new February bank holiday.
Payments will not be made on Monday February 3 due to this bank holiday.
Child Benefit and other payments will be made available from Friday January 31 instead.
BANKING CHANGES
A number of banking changes were made in late January, with customers starting to see the changes throughout February.
Last week on January 23, AIB slashed their saving and deposit rates.
They have reduced the rate on two of their fixed-term deposit accounts by 0.25 per cent.
AIB have also reduced the minimum amount required to open one of its fixed-term accounts to €5,000, down from €15,000.
And last week PTSB began offering 2 per cent cashback on monthly mortgage repayments to their existing mortgage customers.
The move could see customers receive €30 back a month on a monthly mortgage repayment of €1,500.
And it will be available until 2030.
REVOLUT CREDIT CARDS
Another change Irish people will reap the benefits of next month is the introduction of Revolut’s credit card repayment feature.
Repayments of three, six, nine and 12 months are now available at a lower rate than their standard annual percentage rate.
These repayment schemes for eligble purchases can be set up in the app.
And Irish spenders will not incur any extra charges for using the feature.
There is a key payment date change[/caption]
