The 9 biggest November money changes - DWP benefit payments to 15 Lloyds bank closures

Bank closures and winter fuel payments are just some of the things that Brits need to be aware of when it comes to money changes in November. The month ahead sees a number of things being introduced and new policies being announced, particularly as the autumn budget edges ever closer. Some Brits are busy sorting their finances around this time of the year, especially as we approach Christmas.

Meanwhile, dropping temperatures mean higher energy bills as households crank up their heating systems to stay warm. This is only made more expensive after Ofgem's upping of the energy price cap from the beginning of October. Knowledge is power, and as we approach winter, a time when money can be a little tighter for many households across the country, it's important to know what changes are happening to help you manage your money better. Here are 10 money changes happening in November that you need to know.

Bank of England interest rate change (November 6)

The Bank of England's Monetary Policy Committee (MPC) will meet to make a decision on central interest rates. Many economists predict the MPC will hold the Base Rate at 4%. The decision will be announced on Thursday, November 6.

Lloyds Bank branches closing (throughout November)

Lloyds is among the UK banks that have been shutting branches in towns and cities across the country. In November, the bank plans to shutter 15 branches nationwide. They are:

• Blandford Forum: November 10
• Bristol - Bishopsworth, Church Road: November 6
• Chard: November 11
• Coventry - Foleshill: November 4
• Debden: November 12
• Dunstable: November 4
• East Grinstead: November 12
• Feltham: November 4
• Ferndown: November 17
• Hexham: November 5
• Manchester - Newton Heath: November 5
• Plymstock: November 4
• Pontardawe: November 20
• Sheffield - Woodhouse: November 11
• Shipston-on-Stour: November 11

Warm Homes Discount (throughout November)

British households have been receiving letters this week detailing when they will receive a one-off £150 Warm Homes Discount payment to go towards their home energy bills. Labour expanded the Warm Home Discount to a further 2.7 million families last year to support more people with bills.

Most people will receive the payment automatically, but some will have to provide more information. Payments start in November and will all be paid by January 2026.

Winter Fuel Payments (throughout November)

Winter Fuel Payments will be handed out throughout November to most eligible households in the UK. If you haven't received a letter about this, you will likely get one in November. If you do not receive a payment in November, it will most likely happen in December.

The one-off sum will be distributed to all people aged over the state pension age (currently 66). However, those with an annual income exceeding the new £35,000 eligibility threshold will have their payment recouped through the tax system.

The payment amount ranges between £100 and £300 depending on a person's age. If you do not receive it automatically, then you might need to claim it, especially if this is your first time receiving it.

High street favourites to shut (throughout November)

Poundland, New Look, Sports Direct and The Original Factory Shop are among the high street staples that are shutting up shop in towns and cities across the country in November. Poundland has gone through significant changes after the retailer was bought out in June of this year.

Many high streets have seen their local Poundland disappear. Meanwhile, New Look is shutting a slew of shops in towns, cities and retail parks in the UK following a review of the business.

Black Friday (November 28)

Black Friday falls every year on the Friday after Thanksgiving, which is celebrated in the US. This year, Black Friday falls on November 28.

Brits will have access to all sorts of deals, from flight sales to supermarket discounts to slashed prices on electronics and home appliances. It's worth noting that many retailers, both online and in person, will begin their Black Friday sales earlier than the actual date, allowing customers a few days to get bargains.

Autumn Budget (November 26)

Brits are anticipating what changes Rachel Reeves might announce in the Autumn Budget. The budget will be announced on November 26, and it is thought that Rachel Reeves is going to raise taxes such as VAT to fill a multi-billion-pound hole in the UK economy.

This comes after she proclaimed that Britain is "not working well enough for working people". The Chancellor is expected to use the budget as an opportunity to introduce methods for economic growth. "Bills are high," she said. "Getting ahead feels tougher. You put more in, get less out. That has to change."

Ofgem sets next price cap (November 25)

Ofgem increased the energy price cap at the beginning of October, which will make many households feel the pinch when it comes to using their heating during what is expected to be a particularly cold winter. The next announcement will be made on November 25, setting the rate for the first quarter of the new year.

Cold Weather Payments (November 1)

Households in the lower-income bracket will be offered subsidies through the Cold Weather Payment scheme.

The payments from the DWP are made automatically to those eligible if the average temperature in the person's area is recorded as zero degrees or below for seven consecutive days, or forecast to be zero degrees or below.

The scheme runs from November 1, 2025, to March 31, 2026, and people are paid £25 for each seven-day period of cold weather.

To qualify, people may be receiving pension credit, income support, jobseeker's allowance, employment and support allowance, universal credit, or support for mortgage interest (SMI) loan.

Certain requirements with each benefit make a person eligible to receive payment, such as having a disability or a pensioner premium. To find out the full list of requirements with each benefit, visit the Government website.

People residing in Scotland cannot receive Cold Weather Payments; however, they might receive an annual Winter Heating Payment instead.