VOLT IS MOVING YOUR DEPOSITS TO NAB

Volt Bank Limited (Volt Bank) began returning deposits to its customers on 29 June 2022, after announcing it intended to close its deposit taking business and hand back its authorised deposit-taking institution licence to the Australian Prudential Regulation Authority (APRA).

APRA has closely monitored the return of deposits process, which saw all but a small percentage of Volt Bank deposits transferred to other banking institutions. For customers that have not withdrawn funds from Volt Bank, the funds will be moved to National Australia Bank Limited (NAB), subject to final regulatory approvals.

Volt Bank customers whose deposits will be moved to NAB will shortly receive correspondence regarding the next steps in the transfer of deposits process and how to contact NAB for assistance.