Nedbank says it’s all system go to assist thousands of VBS customers whose accounts have been switched to it after VBS was placed under administration.

This follows the Reserve Bank’s announcement that VBS depositors will be able to withdraw a minimum of R100 000 from Nedbank from Friday.

Since the announcement, Nedbank has been holding sessions at its Thohoyandou and Louis Trichardt branches to help customers.

Spokesperson David Schwegmann says mobile banks will also be dispatched outside those branches to assist.

He says the bank has extended trading hours during the week. They will be trading until 18h00 in the evening and on Saturday until 15h00 in the afternoon.

He says: “This is to support and enable VBS depositors, who are now going to be Nedbank clients, to be able to gain access to their deposits. We have got 16 ATMs between Thohoyandou and Makhado to support clients. We have also brought in additional staff to assist.”

Schwegmann has also advised VBS depositors not to withdraw huge sums but use banks and automatic money transfers. He says customers have a choice to either have an account with Nedbank and keep their money there or leave to any bank of their choice.

“We strongly urge customers not to take large sums of cash as there is a risk associated with this. We will prefer for their safety and security to not withdraw large sums of cash.”

“If they need to transfer funds, there is the optional digital platform like internet banking and our money app. If it is the client’s choice not to remain with Nedbank, we will absolutely honour and respect that choice, however we would like to retain as many of those customers as possible,” adds Schwegmann.

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