As we head into a new year, Monzo, the UK’s leading digital bank, is giving savers another reason to get their finances on track. Following a hugely successful run in 2025, Monzo has officially announced the return of its fully automated Saving Challenge for 2026, helping customers build healthy money habits — with the chance to win £10,000 along the way.
Last year, more than 1.7 million Monzo customers took part, collectively saving over £360 million by November 2025. Now, the UK banking-first feature is back, and customers can join the challenge for free any time up until 31 January 2026.
What Is Monzo’s Saving Challenge?
The Monzo Saving Challenge is designed to make saving feel effortless. Once you sign up, Monzo automatically creates a Challenge Pot, and from there, the app does the work for you.
Starting with just 1p on day one, Monzo moves an extra penny each day from your personal account into your Challenge Pot — 2p on day two, 3p on day three, and so on. The entire process is fully automated, helping customers save consistently without spreadsheets, piggy banks, or manual transfers.
By day 30, you’ll have saved £4.64.
Halfway through the challenge, that total grows to £168.36.
And by day 365, you’ll have saved £667.95 — all from spare change.
Best of all, customers who complete the challenge will be entered into a draw to win £10,000.
You can pause, stop, or withdraw your savings at any time, making it flexible enough to fit around real life.
Learn more about Monzo’s digital banking tools at: https://monzo.com
Extra Rewards for Monzo Extra, Perks and Max Customers
For 2026, Monzo is levelling things up for Extra, Perks and Max customers, introducing enhanced features designed to boost savings even further.
Level Up Your Challenge
Paid users can choose 2x or 4x saving levels, meaning you could save up to £2,671.80 over the year. That’s 2p or 4p on day one, doubling or quadrupling every daily contribution.
Earn 5% Interest
Customers on paid plans can earn 5% interest on their Challenge Pot, helping savings grow even faster.
Monthly Prize Draws
Each month, 100 winners will receive £100, giving savers extra motivation throughout the year.
More Flexibility
Paid users can join the challenge at any time, but must sign up by 31 January 2026 to be eligible for prize draws.
Monzo on Making Saving Simple
Marc Sfeir, Product Director at Monzo, said:
“Last year, we saw over a million people take part in the Saving Challenge, proving that small steps can lead to big wins. For 2026, we’ve made it even more rewarding — with new levels, higher interest on savings, and of course, we had to bring back the chance to win that £10,000. It’s all part of our mission to help people grow their money with confidence and build habits that make their money work harder.”
Monzo’s Top Money-Saving Tips for 2026
To help customers get even more from the challenge, Monzo has shared a few simple money-saving strategies:
Start small, save big
Begin with just 1p on 1 January 2026. By 1 January 2027, you’ll have saved £667.95 without noticing the impact day to day.
Pair it with roundups
Round up card purchases to the nearest pound and save the difference. This effortless habit can add £100+ to your savings over the year.
Beat the January blues with micro-saving rituals
Turn saving into a daily ritual. Try a weekly no-spend day or save £1 every time you skip a takeaway coffee — small wins that keep motivation high.
Take it up a level
Feeling confident? Opt for the 4x challenge and aim to save up to £2,671.80 by the end of the year.
Celebrate milestones
Whether it’s your first £10 or reaching the halfway point, celebrating progress helps keep momentum going.
Get Your Money Moving in 2026
Money left sitting still doesn’t grow — but put to work, it has real potential. Whether you’re starting fresh or returning after last year, Monzo’s Saving Challenge makes building better habits simple, personalised, and even fun.
Customers must join by 31 January 2026 to be eligible for prizes.
Terms and conditions apply.
Read the full details here.
