Major financial changes are on the horizon for eBay sellers and homeowners in August, potentially impacting personal finances. eBay is set to implement quicker payment processes for sellers, while the Bank of England is gearing up for its upcoming interest rates announcement.
Additionally, university tuition fees in England are scheduled to increase from £9,250 to £9,535 starting August 1, marking the first fee hike since 2017. This adjustment will affect new students beginning their courses in September 2025 and existing students, with a rise also expected in university maintenance loans to cover living expenses.
For eBay sellers meeting specific criteria, faster payments will kick in from August 6, allowing quicker access to sales revenue. The Bank of England’s interest rates announcement on August 7 will shed light on potential changes to the current base rate of 4.25%, affecting borrowing costs for consumers.
Inflation data from the Office for National Statistics is due for release on August 20, providing insights into price fluctuations. Meanwhile, Santander is phasing out its 123 Lite current account on August 21, known for its 3% cashback on household bills with a £2 monthly fee.
Benefit recipients may receive payments earlier in August due to a bank holiday on August 25, potentially impacting payment schedules. Parents are reminded to renew Child Benefit claims by August 31 for children continuing education post-16, with specific guidelines on eligible education or training courses.
Furthermore, parents seeking 30 hours of free childcare funding for September 2025 must apply by August 31, ensuring timely arrangements with childcare providers. Stay informed about these financial changes and more by subscribing to our newsletter for exclusive updates and offers.