The Reserve Bank announced that VBS depositors will be able to withdraw a maximum of R100 000 from Nedbank from Friday.
Hundreds of VBS customers started queuing outside all Nedbank branches and Boxer supermarket outlets in Thohoyandou, Limpopo from as early as 3am on Friday to make sure that they are the first to get their cash.
Earlier this week, the Reserve Bank announced that R330-million had been given to the bank to pay VBS customers who would like to withdraw their money.
Each customer will be allowed a R100 000 maximum withdrawal.
One of the customers says: “I arrived here at 04:25 am, I am number 12 in the queue. I arrived early so that I can fall within the first 20 clients who will be assisted. I want to transfer my money from this bank to another bank.”
Since the announcement by the Reserve Bank, 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.