Monzo is giving its customers a final opportunity to participate in its popular 1p Saving Challenge, which could see them accumulating £668 by the end of the year. Over one million users have already signed up to the automated savings program, with over 228,000 new savers joining the initiative. The challenge is designed to help individuals save effortlessly by incrementally adding small amounts of money to a designated pot each day, starting with 1p and gradually increasing.
Monzo is urging individuals to seize their 'last chance' to participate in a savings challenge that could see them pocket £668 by the end of the year. The bank has reported that over one million users have already committed to its automated 1p Saving Challenge. The final day to get involved is Friday, January 31. Available to new and current customers of Monzo , this 'effortless' challenge aims to help savers accumulate £667.
95 across 365 days beginning with a mere 1p on the initial day and escalating from that point onwards. The concept is designed to simplify saving money throughout the year. Monzo announced that over 228,000 fresh savers have joined the initiative. Understanding the Monzo 2025 1p Saving Challenge Utilising Monzo's app, the daily savings process is automated, where trivial sums are transferred from clients' primary or joint accounts into a designated Challenge Pot without any need for manual interaction. This challenge continues for a full year starting from when you deposit your first penny, reports Lancs Live. There's flexibility to access the funds or to pause or cease the challenge whenever necessary. For more information or to sign up, check out the Monzo website. Additionally, Monzo is offering a windfall of £10,000 to one fortunate challenger who sees the challenge through to completion, and there are further rewards including 10 monthly prizes of £100 each exclusively for those subscribed to Monzo Extra, Perks, and Max, with certain conditions applied. AJ Coyne, VP of marketing at Monzo, commented: 'We know our customers love saving with us; this year they racked up over £220m alone in automated round-ups. Many of them will also be looking to make habitual changes in January, and we know that putting away smaller amounts over time works well for them.' He further explained, 'That's why we're now offering another automated solution that turns small change into big savings. This challenge is a great entry point for those at the start of their journey and a fun competition for those who are already in the habit.' For more information, visit https://monzo.com/features/1p-saving-challenge. Get all the latest and breaking news in Yorkshire by signing up to our newsletter here
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