Overview
- Monzo’s automated 1p-a-day challenge moves rising daily amounts into a dedicated pot to reach £667.95 in 365 days, with a chance to win £10,000 for those who complete under set eligibility rules.
- For 2026, paid-plan customers can choose 2x or 4x levels (up to £2,671.80 a year), earn 5% interest on the Challenge Pot, and enter monthly £100 prize draws for 100 winners.
- Participants must start by January 31, 2026 to qualify for prize eligibility, and can pause or withdraw funds at any time without ending the challenge.
- Monzo reports around 1.7 million customers took part last year, collectively saving over £360 million by November 2025.
- Rivals promote alternatives, including NatWest’s £10-to-£120 monthly plan to save £780, Yorkshire Building Society’s 5p-a-day approach nearing £3,400, and a Barclays tip to set aside £5 on purchases over £20, with HSBC and Monzo supporting 1p transfers and automation.