Hi there, My son is 16 and just got offered a bank account I had to discourage him from opening. It has high interest but when I read the fine print, you get charged £3 a day if you go overdrawn, and £5 fee if you don't deposit the minimum payment of £250 that must be paid into the account each month. It looked like a good savings plan for young adults to him, but kids dont read the small print too often! So before your child takes out an Alliance and Leicester Premier 21 Account, or in fact any savings account, make sure they know the facts!