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Join the 1p Saving Challenge this January

Start with a penny. End up with £667.95 and a chance to win £10,000.

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Personal Current Account required. UK residents. 18+. One entry per person. Ts&Cs apply. For a chance to win £10,000, start by 11:59:59 pm on 31 Jan 2026 and have at least £667.95 in your Challenge Pot and have caught up on all your daily savings at 11:59pm on day 365 of your challenge.

How to get your money moving

You'll need to have a Monzo personal account to join the Saving Challenge. Your challenge will last for 365 days from the day you start saving. You can stop, pause or withdraw money anytime.

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  • Set it and forget it

    On day 1, we’ll move 1p from your personal account to your Challenge Pot. Day 2, 2p. Day 3, 3p. You get the picture.

  • Halfway through, go you!

    It's day 183. Ping! £1.83 just dropped in, so you've saved £168.36. Just 6 months to go until £667.95.

  • Challenge complete

    Is that a superhero cape you’re wearing? Because you’ve just saved your way to £667.95. And because you stuck at it, you could win £10,000.

  • A phone with "Good to know" on the screen

    Pause or withdraw

    Pause your daily savings at any point, then add money to catch up for missed days. You can also stop anytime, and access your savings whenever you need to.

Startsmall,Savebig

Saving can feel big and scary. So start small with the 1p Saving Challenge in January and get your money moving. We’ll put a little aside each day until you have £667.95 saved.

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Tap me

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One pence saving challenge pot green background

Ditch your piggy bank

Ditch the pen, paper and piggy bank – because we're the first UK bank to launch an automated 1p saving challenge.

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Let the app do the saving

Track your progress

Pause or withdraw whenever

A selection of pots which users are saving up for

*Just a few of the moments people save for

Keep saving for a shot at £10,000

Vet bills? Travel thrills? Whatever you're saving for, think of every penny as a small step toward it. And if you have £667.95 by the end of your challenge, you’ll be in with a chance to win £10,000.

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Want to be in the £10,000 prize draw?

You’ll need to:

  • Have a Monzo personal current account or one of our paid plans: Extra, Perks or Max (Ts&Cs apply)

  • Be 18+

  • Be a UK resident

  • Start the Saving Challenge by 11:59:59pm (GMT) on 31 January 2026

  • Have at least £667.95 (excluding interest) in your Challenge Pot at 11:59pm on the 365th day of your challenge

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Take your savings to a whole new level

Upgrade to Monzo Extra, Perks or Max to unlock new challenge levels, bigger savings, and monthly prize draws.

Plans start from £3 a month • UK residents aged 18+ (18-69 for Max) •Ts&Cs apply.

One hundred £100 prizes each month*

Level up to save up to £2,671.80

Explore our plans

*Start your challenge by 11:59:59pm on 31 January 2026. One hundred £100 prizes are up for grabs each month between February 2026 to January 2027. To be in with a chance, you'll need to have caught up on all your daily savings by the end of the month. UK residents • Aged 18+ • You must have Monzo Extra, Perks, Max or Max + family (excluding free trials) • Ts&Cs apply.

Doable daily saving

  • Multiple bowls with different coloured marbles

    Start a savings habit that’ll stick

    'Quit this.' 'Cut back on that'. Saving's hard enough without everyone's 'hot takes'. So instead of stopping something for a bit, try a habit that'll stick.

  • Glass bowl full of colourful marbles

    Get into the rhythm

    There’s a rhythm to saving. It’s less ‘BISH, BASH!’, more ‘clink, clink, click’. So save a bit today, a bit more tomorrow. Keep the beat, and you'll be on a roll.

  • Ice cream with a cherry on top

    Every penny’s a win

    Wedding do. A new loo. Everyone's on a savings quest. If you don't get there, treat every penny saved as a win. If you do? That’s the cherry on top.

Financial Services Compensation Scheme Protected

Your eligible deposits in Monzo are protected by The Financial Services Compensation Scheme (FSCS) up to a value of £120,000 per person.

Open a free Monzo account to start the challenge

It takes just 10 minutes to apply for a free Monzo current account.

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Manage your money with a fully-licensed UK bank

Count on industry-first security features

Budget and save in clever new ways

Questions, meet answers

Do I have to start the 1p Saving Challenge by 31 January 2026?

If you want to be eligible for our £10,000 prize draw, you’ll need to start by 11:59:59pm on 31 January 2026. You’ll need to have at least £667.95 (excluding interest) in your Challenge Pot and have caught up on all your daily savings at 11:59pm on day 365 of your challenge. If you’re saving 2x or 4x, your saving goal will be higher.

You can do the Saving Challenge in the app from the 1 February 2026, but only if you’ve got Monzo Extra, Perks, Max or Max + family. The £10,000 prize draw won’t be available from that date.

How do I enter the £10,000 prize draw?

For a chance to win £10,000, start by 11:59:59pm on 31 January 2026. You’ll need to have at least £667.95 (excluding interest) in your Challenge Pot and have caught up on all your daily savings at 11:59pm on day 365 of your challenge. If you’re saving 2x or 4x, your saving goal will be higher. The prize draw will be on 1 Feb 2027.

UK residents • Aged 18+ • One entry per person • You must have a Monzo personal account • Challenge and prize Ts&Cs apply.

How much money will I save?

If you keep at it for 365 days, £667.95 (excluding interest).

If you are a Monzo Extra, Perks, or Max subscriber you can take things to the next level. This year you can 2x your daily savings to reach £1,334.90. Or 4x your daily savings to reach a huge £2,671.80 (excluding interest).

How long does the Saving Challenge last?

Your challenge will last for 365 days from the day you start it. You can pause your daily savings and catch up later by adding money for missed days. And you can end your challenge anytime, too.

You can also take money out of your Challenge Pot whenever you want and add it back later.

Can I withdraw money from my Challenge Pot?

Yes, anytime. And you can add money later to get back on track.

Can I pause or end the challenge?

Yes, you can pause your daily savings and catch up later by adding money for missed days. You can also end your challenge anytime.

Can I start the challenge after 1 February 2026?

Yes, but only if you’ve got Monzo Extra, Perks, Max or Max + family. You won’t be able to enter the £10,000 prize draw or the £100 prize draws. But you will earn interest on your Challenge Pot savings.

Is my money protected in the Challenge Pot?

Your eligible deposits in Monzo are protected by The Financial Services Compensation Scheme (FSCS) up to a value of £120,000 per person.

How do 2x and 4x levels work?

If you’ve got Extra, Perks, Max or Max + family, you can stick to saving 1p more each day and reach £667.95 by the end of the year – or take things to the next level. This year you can 2x your daily savings to reach £1,334.90. Or 4x your daily savings to reach a huge £2,671.80. Switch levels at any time – your new level will start from the next day. So if you switch to the 2x level on day 10, you’ll save 22p on day 11.

Can I start the 2026 Challenge if I’m still completing the 2025 Challenge?

You can start your challenge from 1 January 2026, or wait until your 2025 Saving Challenge is finished. Just make sure you join the 2026 challenge before 31 January.