Alliance & Leicester First Saver Children's Saving Account Review

Good Points
An excellent rate of interest of 5.25%.
Good access
Very friendly and helpful people

Bad Points
Account it to be discontinued and the interest rate is being reduced dramatically from 5.25% to 3.65%

General Comments
Good service and helpful people enabled me to open the account for my child. Good rate of interest at the time and access arrangements.

The interest rate will be reducing on this account from July to 3.65% gross and the A&L are discontinuing the account. Not fantastic. It was difficult to organise a standing order to the account on a regular basis, the account number is very long and took some time to sort out getting a regular payment set up. I will be closing this account and looking elsewhere because of the reduction in interest rates.