VBS Mutual Bank completes transfer of guaranteed retail deposits to Nedbank Limited
Last Modified Date:
2021-04-01, 01:10 PM
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The VBS Mutual Bank (VBS) liquidator, Anoosh Rooplal, today announced that qualifying retail depositors, who had up to R100 000 in their VBS accounts, should redeem their funds at any Nedbank Limited (Nedbank) branch up until 8 July 2021. This is the date when the agreement between the liquidator, the Prudential Authority (PA) and Nedbank is due to end. In terms of this agreement which was concluded in 2018, depositors were guaranteed up to R100 000 per depositor and had three years to collect their money.