Millions of households across the UK are set to experience a series of financial changes this June, as new regulations, benefit adjustments, and service fees come into force.
From Universal Credit uplifts to alterations in bank account charges and energy billing procedures, the impact will be widely felt by individuals managing tight budgets amid continued economic uncertainty.
These developments reflect broader shifts in public policy, cost-of-living support, and consumer service models. Whether through increased benefit payments, incentives to update legacy systems, or price recalibrations across essential sectors, the changes underline the importance of staying informed and taking timely action to avoid unexpected charges or missed entitlements.
Universal Credit Payment Increases Now Rolling Out
Universal Credit recipients can expect to see increased payments from mid-June, following the benefit uprating that took effect in April. According to the UK Government, benefit rates were raised by 1.7% from 7 April 2025, in line with the Consumer Price Index (CPI) for September 2024.
However, due to the monthly assessment structure of Universal Credit, many claimants will not see the updated amount until their first full assessment period concludes after the April date.
Those whose assessment began on or after 7 April may have already received the increased payment from 13 May, while others will see the adjustment reflected by 12 June, depending on their individual assessment cycles.
This staggered rollout ensures that the increase is applied accurately in line with the claimant’s circumstances during their designated assessment period. The Department for Work and Pensions has advised claimants to check their Universal Credit journal for updated award notices reflecting the new rates.
Energy Billing Updates and Banking Fee Adjustments
Significant developments are also expected in the banking and energy sectors, with changes taking effect from early June. Lloyds Bank will raise the monthly fee for its Club Lloyds current account from £3 to £5 on 2 June.
The fee remains waivable for customers depositing at least £2,000 monthly, but the change could cost up to £24 more annually for those who don’t meet the threshold. The increase also affects customers on Club Lloyds Silver and Platinum accounts, who are charged this fee in addition to their respective account premiums.
Meanwhile, HyperJar, a budgeting app offering prepaid cards, will implement a £3 inactivity fee from 3 June. The charge applies to accounts inactive for 12 months or more but can be avoided through any form of account activity, such as purchases or transfers.
In the energy sector, the upcoming price cap adjustment set for 1 July means customers without smart meters are being urged to submit meter readings by 30 June.
According to Ofgem, the new cap will reduce average annual energy bills from £1,849 to £1,720, a 7% decrease. Providing an accurate meter reading ensures billing reflects actual usage before the lower rates apply.
Additional changes include the Radio Teleswitch Service switch-off and the closure of the Government’s mortgage guarantee scheme, both occurring on 30 June, potentially impacting thousands more households.
