Children's isa no longer eligible for higher interest rate

Chrisman70

I have set up a child's isa for my son, and my wife and I have been saving in that account since he was born in 2012. We have just received a letter from Halifax to say he was not eligible for the higher rate of interest since 2017. They have only just sent the letter within the last 3 months.
Are we able to claim from Halifax as they have just advised us in 2020 for the loss of interest on that account and what are the next best options for transferring to a different account?

masonic

Why is he not eligible for the higher rate of interest?

xylophone

Do you mean that you were not advised of a change in the interest rate?
https://www.thisismoney.co.uk/money/saving/article-2820932/Halifax-cuts-junior-Isa-third.html
I think the rate was always variable?
https://www.thisismoney.co.uk/money/saving/article-1583863/Best-savings-rates-Junior-Isas-children-s-accounts.html

Chrisman70

The first I have heard about it was from the letter we have received from Halifax. I have no issue with the rate being variable, I have though an issue with only being advised of this nearly 3 years later.