Monzo 1p Saving Challenge gives customers a final reminder to join, offering a total of £667.95 in savings by the end of 2025.
Monzo 1p Saving Challenge gives customers a final reminder to join, offering a total of £667.95 in savings by the end of 2025.
Monzo 1p Saving Challenge gives customers a final reminder to join, offering a total of £667.95 in savings by the end of January. With the deadline approaching on January 31, the bank is urging new and existing customers to participate in this simple and automated savings challenge. Over a million people have already signed up, including more than 228,000 new to saving with Monzo.
The 1p Saving Challenge, as the name suggests, starts with saving just 1p on day one. The amount increases daily, adding 1p until the total reaches £667.95 after 365 days. The automated process is handled directly through Monzo app, makes saving effortless. Users can easily set up the challenge in their personal or joint accounts, where small amounts are automatically transferred into a designated “Challenge Pot” daily. There’s no manual input required, and users can pause, stop, or withdraw their savings at any time.
AJ Coyne, VP of Marketing at Monzo, emphasized that the bank is responding to customers’ desire for simple, automatic ways to save. “We know our customers love saving with us,” Coyne said. “This year alone, our customers saved over £220 million through automated round-ups. The 1p Saving Challenge is another way for them to save without hassle and no major commitment. It’s perfect for those looking to start saving or looking for a fun, effortless competition.”
In addition to the savings, Monzo is offering some exciting rewards. One lucky participant who completes the challenge will win a grand prize of £10,000. Additionally, ten more Monzo customers with Extra, Perks, or Max accounts will receive £100 each in monthly prizes.
For those considering joining, Monzo 1p Saving Challenge provides an easy and accessible path to kickstart their saving journey. The challenge’s automated nature makes it a great entry point for beginners and a rewarding experience for seasoned savers. The clock is ticking, and with January 31 fast approaching, it’s the last chance to join and secure those savings.
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