Good morning guys,
I have a question, which will once again put banks in the limelight:
Are savings accounts' interest rates not supposed to increase automatically the moment the prime rate changes (upwards or downwards)?
I have a business account at FNB, a Money Market account at FNB, a credit card at ABSA, and a savings account at Capitec.
All banks have increased their rates last month, as the prime rate increased with 0.25, but Capitec hasn't?