Thousands of Kiwis who are eligible for the government's $350 cost of living bonus payments could miss out

More than 164,000 people could miss out on the government's $350 cost of living bonus payments because the Inland Revenue Department does not have their bank account details.

The first of three $116 instalments from the government to help with the cost of living is due on Monday for an estimated 2.1 million people who are eligible.

The payments were announced in this year's budget, for those who earn $70,000 a year or less, are New Zealand tax residents aged 18 and over and who are not entitled to the winter energy payment.

But IRD needs their current bank account details to be able to make the payment.

Revenue Minister David Parker said IRD already had the details of more than 90 per cent of those eligible for the payments. 

"The most common way that people update their details with IRD these days is on the internet, [through] myIRD, but we do have telephone services and we have many hundreds of people that are engaged with this task," he said.

Parker said anyone who did not supply their bank account number by the time the payments were made could still claim them until the end of March next year.