How much money will I save?
If you keep at it for 365 days, you'll end up with £667.95 (excluding interest).
If you're 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 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 whenever I want?
Yes, but only if you've got Monzo Extra, Perks, Max or Max + family.
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 this year’s Saving Challenge if I’m still completing last year’s Saving Challenge?
Yes, you can start your next challenge now, or wait until your current challenge is finished.