Reserve Bank Governor Lesetja Kganyago has announced that Nedbank will from this Friday be helping retail customers to access their cash at the embattled VBS bank.
Retail depositors will have as much as three years to withdraw their funds.
However municipalities and companies will not be able to use the facility.
The Reserve Bank governor says a probe into alleged irregularities at VBS is on-going.
VBS is accused, as a mutual bank, of illegally accepting deposits from municipalities among other things.
Kganyago says the involvement of Nedbank will help ease the problems being experienced by retail depositors.
Kganyago, says they will facilitate the repay the deposits of VBS Mutual bank retail depositors.
Retail depositors refer to individuals, funeral schemes, burial societies, savings clubs and stokvels.
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