Monzo 1p Saving Challenge Pot Prize Draw Rules

Before we start, as we’re the promoter of the prize draws, legally we have to give you our address. So it’s: Monzo Bank, Broadwalk House, 5 Appold Street, London, EC2A 2AG.

There are two prize draws. One where you could win a £10,000 cash prize (£10k Prize Draw), and one where you could win one of ten £100 cash prizes each calendar month (Monthly Prize Draw).

Our prize draws are open to all UK residents aged 18 or over, except Monzo employees.

To enter the prize draws you’ll need to opt in, and accept these terms through the Monzo app. You can enter the prize draws from 7 January 2025 to (and including) 31 January 2025.

Once you’ve opted in you’ll be entered into the prize draws if you meet the eligibility criteria. It’s one entry per person for the £10k Prize Draw and one entry per person each calendar month for the Monthly Prize Draw.

To be eligible for the £10k Prize Draw, you must:

To be eligible for the Monthly Prize Draw, you must:

The 1p Saving Challenge is all about saving each day. If we believe you've not saved in this spirit, we may disqualify you from winning the £10k Prize Draw and/or the Monthly Prize Draw. For example, if you've started the challenge, paused it shortly after, then added £667.95 to your 1p Saving Challenge Pot on or close to the 365th day of your 1p Saving Challenge, we may disqualify you from winning the £10k Prize Draw. Similarly, if you've constantly stopped and restarted your Extra, Perks or Max plan, we may disqualify you from winning the Monthly Prize Draw.

For the £10k Prize Draw, we’ll choose one winner at random by midnight on Monday 2 February 2026. For the Monthly Prize Draw, we’ll choose ten winners at random on the first working day of each calendar month starting from February 2025 to (and including) January 2026. We’ll let all winners know (by email or in the Monzo app) and give the prize within 30 days. All prizes will be paid into the winner’s Monzo’s personal account and if the personal account is in the process of or on notice to be closed, another winner will be chosen at random.

You can’t exchange your prize or ask for an alternative (why would you anyway!?). And so you know, we have the right to replace the prize with a different one of the same value or higher.

All our decisions on any aspect of the prize draws are final, binding and we won’t respond to queries about it.

We’re legally required to publish or make available information that indicates that a valid award took place. So we’ll share the surname and county of winners to anyone who emails help@monzo.com within 30 days after the prize draw. You can object to your surname and county being published or made available by emailing us at help@monzo.com. We’ll still need to share this information with the regulator, Advertising Standards Authority, on request.

If you enter, we have to assume that you’ve read and agreed to these rules. And so you know, we have the right to refuse entry or the prizes to anyone who’s breached these rules.

We’ll end or temporarily close the prize draws if we suspect any fraudulent, abusive or suspicious behaviour. We can also amend or add to these rules if necessary.

We’ll collect, store and process the data for everyone who enters the draws in line with our privacy notice.

And the last thing from us: English law applies to the prize draws and these rules. Anyone who enters it, submits to the exclusive jurisdiction of the English courts.