VBS Mutual Bank claiming deadline looms

Former VBS Mutual Bank retail account holders have until July 8 to collect up to R100,000 at any Nedbank branch. 8TH July 2021 is the date when the agreement between the liquidator, the Prudential Authority and Nedbank is due to end. In terms of the agreement which was concluded in 2018, depositors were guaranteed up to R100 000 per depositor and had three years to collect their money. Retail depositors include individuals, burial societies, stokvels and saving clubs’ deposits in VBS. The guarantee does not cover municipal or corporate deposits. We spoke to Anoosh Rooplal, VBS Mutual Bank liquidator.