Brits can save hundreds of pounds next year with Monzo's 1p challenge

ok.co.uk:

Monzo is launching a nifty new saving challenge for 2025 that promises to help UK savers effortlessly build a tidy sum of over £600 by the year's end.

With more than 11 million users, Monzo says it is the first bank in the UK to offer a fully automatic version of the popular 1p saving challenge.This savvy savings plan gradually sets aside pennies each day—starting with just 1p and increasing daily by another penny—culminating in a total stash of £667.95 after a full year.

By day 30, participants will have amassed £4.64 and halfway through they'll be looking at £168.36 in their savings pot. Monzo, hailed as the UK's seventh-largest bank, has encouraged this method for some time, but 2025 marks a significant moment when customers can join the challenge directly via the Monzo app.

New and existing Monzo members have until January 31 to sign up for this auto-saving feature that transfers spare change from their primary account into a special "challenge pot" daily.