Overview
- The challenge automates daily transfers of 1p, 2p, 3p and so on into a dedicated pot, reaching £667.95 in 365 days, excluding interest.
- Paid plans (Extra, Perks, Max) add 2x or 4x saving levels to build up to £2,671.80 a year, plus 5% interest on the Challenge Pot and monthly £100 prize draws for members.
- Completing the 365 days enters customers into prize draws including a £10,000 prize, with eligibility requiring a Monzo personal account, UK residency, age 18+, a start by 11:59pm GMT on 31 January 2026, and at least £667.95 (excluding interest) in the pot at 11:59pm on day 365.
- Participants can pause the schedule, make up missed days, withdraw money, or stop the challenge at any time within the app.
- Monzo reports around 1.7 million people joined last year, saving over £360 million by November 2025, and a widely shared Reddit post described using partial savings to replace a broken phone within a £562 budget.