VBS Mutual Bank has completed the transfer of guaranteed retail deposits to Nedbank, giving depositors little more than three months to collect money guaranteed to them based on an agreement between relevant authorities.

The liquidator of VBS, Anoosh Rooplal, has advised qualifying retail depositors, who had up to R100,000 in their VBS accounts, to redeem their funds at any Nedbank branch by July 8, according to a joint statement by the Reserve Bank, Nedbank and the liquidator, issued on Thursday...

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