John Louw, the curator of Saambou Bank, is considering unfreezing funds for the elderly and depositors who are destitute and sick.
Louw says he has paid out R15 million to depositors who are experiencing particular financial hardship following the bank's collapse on February 9. About 8 000 hardship applications have been received so far.
If you have a desperate need to access your money, you can apply in writing (with supporting documents) to Saambou Bank, Hardship Committee. The fax numbers are (011) 421 5116 or (011) 388 3046. The postal address is PO Box 74127, Lynnwood Ridge, 0040.
Louw is systematically making funds available to depositors following the freeze on all accounts two weeks ago.
Last week, Louw announced that certain depositors could access some of their money based on the balance in their accounts:
- Up to R4 000 can be withdrawn from funds in the following accounts, irrespective of the account balance: Money Manager, S-Card, Carry On, Tempo, Kolskoot, Savings Account and Q Card, as well as the 20Twenty account; and
- Up to R4 000 can be withdrawn from the following accounts, but only if your balance is R4 000 or less: call accounts (Moneymarket, Group Investment, Wealth Manager and Prime Plus); notice accounts (Dinkum, 32-Day Call, 88-Day Moneymarket); and term accounts (Fixed Deposit, 3Y Profit Winner, Primelink II, Top-Up, Win Win 2000, Base Rate, Baby Bond, Prime Plus, Optimum Bonus).
So far, R148 million has been paid out to depositors. Louw says he cannot say at this stage when account-holders with more than R4 000 will be able to access their money.
This week, Louw gave permission for certain depositors to withdraw a maximum of R15 000 of the interest due from their accounts on March 1. This special concession applies only to the interest on deposits that are due on or before February 28 and to term deposits on which interest is paid out monthly, even though the deposit has not matured by February 28.
Any money paid into the bank after 1pm on February 9, when the bank was placed under curatorship, is available without restriction.
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