VBS Mutual Bank depositors can withdraw monies at Nedbank

VBS bank ATM
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VBS depositors say they are ready to go and withdraw or transfer their money from the troubled VBS Mutual Bank to Nedbank as decided by the Reserve Bank.

They have been visiting Nedbank branches and mobile bank vans around Vhembe District in Limpopo for inquiries ahead of Friday.

VBS depositors have for months been camping outside the bank branches queuing to withdraw a minimum of R1000 per day since VBS was put under curatorship.

Emily Nepfumbada from Itsani village visited Nedbank’s mobile bank.

“I am here at the indoor sport centre to get information. I am happy because we have been suffering going up and down trying to withdraw our money from VBS and we were only allowed to take R1000. We are thankful that government made this arrangement. We will get all our money; we need to take along our proof of residents and a letter from the tribal authority. The process is starting tomorrow but that does not mean we should all come tomorrow, one can come at any given day even time if it’s not now.”