Young Money Savers

villafan10

Alliance and Leicester have just opened a current account aimed directly at 16-21 year olds new to employment. This account offers a mammoth 10% on balances up to £1,000. Surely the market leader for 16-21 year olds?

I've been reading a lot of people's opinions on Alliance and Leicester, that being their customer service is poor. To be Devil's Advocate I feel I have to say a few months ago I applied for the Premier Direct and applied for Premier for my mother. In both cases they have been extremely helpful and constantly update you through every process and no problems with the switching service either. So it's a :T for me and I'll seriously be recommending this account to any 16-21 year olds I know.

Lokolo

This account is mentioned a lot on Savings and Investments and Student Moneysaving area.... its not that new....

villafan10

Apologies, I didn't check that area as surely it's a current account.. Never mind.

ADMIN DELETE PLEASE

Lokolo

You can also get £50 when you recomment a friend from it.

Only thing is it requires a minimum amount going in every month, however, its a bit silly, because when you open the account it seems you set the amount. So you can set it to £1! ha. :cool:

[edit] - technically it is a current account, but because of the 10% bit, people see it for savings rather than a current.

TheEffect

I opened this account, received the £50 free, then realised how terrible A&L are and closed the account. Yes, you get 10% interest, but remember it's for the first 12 months, then it goes to base rate.