Monzo, one of Britain’s most popular banks, has launched a new online tool that could help customers save over £600 annually. The bank’s app now allows users to automatically participate in the 1p savings challenge throughout 2025.

This simple savings hack involves setting aside pennies each day, which gradually accumulate into pounds as the year progresses. By following the ‘1p savings challenge’, you could build up a handy savings pot worth £667.95 by December 31, 2025.

Even if you only…