Delving into how the 2025 1p Saving Challenge operates, Monzo's savvy app does all the heavy lifting by transferring tiny sums daily from either personal or joint accounts straight into a designated Challenge Pot without any manual hassle.
Major UK bank announces 'last chance' for customers to get £668 'effortlessly' Monzo is calling out to savers, declaring it's their "last chance" to join a savings initiative that could top up their bank balance by £668 this year.
Both fresh faces and veteran Monzo users can dive into this "effortless" challenge which steadily builds savings of £667.95 across 365 days – beginning with a mere penny on the first day and doubling incrementally from there.
The digital bank reveals that over one million aficionados have already joined its automated 1p Saving Challenge and the clock is ticking with the final date to participate set for Friday, January 31.
On Monday, Monzo announced a surge in new savers, with more than 228,000 consumers new to Monzo saving through this scheme.
