Overview
- The automated challenge moves 1p on day one, 2p on day two and so on, totaling £667.95 after 365 days before interest.
- Prize draws include a top award of £10,000, with eligibility requiring a Monzo personal account, age 18+, UK residency, an opt-in, a start by 11:59pm GMT on 31 January 2026, and at least £667.95 in the pot at day 365.
- Paid plans (Extra, Perks, Max) add 2x or 4x saving levels, 5% interest on Challenge Pots, and monthly £100 draws with 100 winners.
- Monzo cites strong prior uptake, with about 1.7 million participants saving over £360 million by November 2025.
- A Reddit user reported covering most of a £562 phone using their challenge savings, highlighting practical outcomes for participants.