The payment will be made by bank transfer linked to the IBAN provided to the tax authorities. The tax (AT) portal has created a shortcut where you can quickly confirm your IBAN and, if necessary, register and update your bank account number. If the IBAN is “confirmed” then it will be valid to receive the payment or you can choose to change the number.

The measure is included in the support package for families announced by the Government at the beginning of September, valued at 2.4 billion euros. In question is a payment of 125 euros for eligible citizens, regardless of their family situation, with a gross monthly income of up to 2,700 euros, which corresponds to 37,800 euros per year.

In practice, this support will apply "to all those who are taxpayers in the IRS, to those who, depending on their income, are exempt from paying IRS or submitting an IRS declaration", as well as to beneficiaries of minimum social benefits, such as unemployment benefit and sickness benefit.

At the same time, the Government has also provided an extraordinary support of 50 euros for each dependent, up to the age of 24 (no age limit for dependents with disabilities). This means in practice that in the case of a couple with two children and where both have an individual income of up to 2,700 euros per month, they will now receive an extra payment of 350 euros.

Payment is made automatically, in one go and made by bank transfer through the Tax Authority (AT) or Social Security (in the case of those who receive minimum social benefits). Payments will be made at a rate of 500,000 payments per day, starting this Thursday, and Fernando Medina estimates that the processing of the measure should be completed in 10 days.