Monzo, the UK's seventh-largest bank, introduces a fully automatic 1p saving challenge, allowing users to effortlessly build over £600 by year's end.
Monzo is launching a new saving challenge for 2025 that will help UK savers effortlessly build over £600 by the end of the year. The bank, with over 11 million users, claims to be the first in the UK to offer a fully automatic version of the popular 1p saving challenge . This savvy savings plan gradually sets aside pennies each day, starting with just 1p and increasing by another penny daily, resulting in a total of £667.95 after a year.
New and existing Monzo members have until January 31 to sign up for this auto-saving feature, which transfers spare change from their primary account into a special 'challenge pot' daily. Participants can pause the plan, catch up on missed contributions, and watch their savings grow directly within the Monzo app. Monzo's vice president of marketing, AJ Coyne, announced an 'automated solution' designed to help savers turn their pennies into pounds. The bank is also offering a £10,000 prize for one lucky saver who completes the full 365-day challenge, alongside other rewards for monthly plan participants
Saving Challenge Monzo UK Bank 1P Challenge Automated Savings
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