Several studies have suggested that time monitoring is important for appropriate time-based prospective memory (TBPM). However, it is still unknown if people actively use internal timing processes to monitor the approaching target time, and whether they do so by tracking the duration between clock digits, or by counting and matching the numerical progression of clock ticks' digits with the target time. Therefore, in the present study, we investigated whether a manipulation of the external time affected time monitoring and TBPM performance. In two experiments, participants performed two identical TBPM tasks: a first TBPM block with no clock-speed manipulation followed by a second TBPM block, where the clock-speed was manipulated as faster or slower (experimental conditions) or normal (control condition). The results showed that only participants in the slower clock condition increased time monitoring in the second compared to the first TBPM block (d = 0.42 and 1.70); moreover, particularly in Experiment 2, participants in the faster clock condition checked the clock significantly less frequently than participants in the slower clock (d = -1.70) and in the control condition (d = -0.98), but only during the 4^th minute. No effect was found for TBPM performance. Overall, results suggested that people tracked the target time by counting and matching the numerical progression of clock ticks' digits with the target time. The findings are discussed considering the most recent theoretical advancements about the relationship between time perception and TBPM.