If you invest for a fixed term, be sure you know what your bank or investment house will do at the end of the term if it doesn't receive a new mandate from you.

A Stellenbosch pensioner was horrified to find her R330,000 investment with Absa had been reinvested for another 12 months and she would be charged a penalty of about R11,500 to get access to her funds before the end of the new investment term...

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