An automatic transfer of 420 euros arrived in a few days for 3 million French people

2024-08-03 05:04:12

This budget promotion will be available regularly during the holidays.

This is good news that will be good for the budget. While the summer holidays are often associated with additional spending compared to the rest of the year, the finances of three million French people will soon improve thanks to the upcoming move. This will automatically reach the bank account: (almost) no action will be required to see the amount read.

In a few days, many families will receive, at least, 416.40 euros, which they will be able to spend freely in the shops of their choice. The amount can even double or even triple, depending on the family composition. And there is no deadline for using this bonus.

This move, made possible by the Family Endowment Fund, comes under the traditional Back to School Policy. Each year, the State pays money to families in great difficulty in order to help them pay for supplies and various essential items for the coming year (clothes, sneakers, bags, etc.). The amount offered varies depending on the age of the children and their number in the household.

For each child in primary school (6 to 10 years), 416.40 euros will be paid. This will amount to 439.38 euros for each child in middle school (11 to 14 years), then 454.60 euros for each child in high school (15 to 18 years). These amounts benefit from a renewal of 4.6%, compared to 2023, or almost 20 euros per level.

The Back to School Allowance is automatically paid to all (eligible) parents of children aged 6 to 15. For those whose children are aged 16 to 18, they must confirm their school with Caf. Also, if the child enters CP before the age of 6, the school certificate must be sent to Caf to receive the money.

It is important to note that ARS is not paid to everyone. It is based on income two years ago. To receive assistance in 2024, the reference tax (RFR) for 2022 must not exceed 25,775 euros for a dependent child, 31,723 euros for two children or 37,671 euros for children three.

To find out if you qualify, consult your 2022 tax notice and check the “Indicative tax income” line. If this income is below the ceiling, you will receive the Back to School Grant. In addition, if you are already a Caf beneficiary, no additional steps are necessary for children aged 6 to 15, the allowance is paid automatically.

As planned in the schedule, the payment will arrive in the accounts on Tuesday August 20 for many eligible people. On the other hand, it will arrive earlier, at the beginning of August, for the interests based in Reunion and Mayotte.