Overview
- Monzo confirms the challenge’s return for 2026 and will award £10,000 to one person who completes it.
- The plan increases deposits by a penny a day, resulting in £667.95 saved over 365 days.
- Extra, Perks and Max customers can choose higher starting increments with potential to save up to £2,671.80, earn 5% interest on Challenge Pots, and enter £100 monthly prize draws with 100 winners.
- Monzo says 1.7 million customers took part in 2025, collectively saving more than £360 million by November.
- MoneySavingExpert and banks such as NatWest are promoting the challenge, while reports differ on which providers fully automate transfers, with some naming Monzo alone and others also citing Plum.