Payments to Habib Overseas Bank’s depositors on track

More than 63% of qualifying Habib Overseas Bank depositors have to date received their funds through the South African Reserve Bank guarantee payment mechanism. Picture: Karen Sandison/ANA

More than 63% of qualifying Habib Overseas Bank depositors have to date received their funds through the South African Reserve Bank guarantee payment mechanism. Picture: Karen Sandison/ANA

Published Jul 12, 2023

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The representative of PricewaterhouseCoopers of Habib Overseas Bank, Craig Du Plessis, yesterday announced that more than 63% of qualifying Habib Overseas Bank depositors had to date received their funds through the South African Reserve Bank (SARB) guarantee payment mechanism.

To date R43 million had been paid to 858 of the 1574 qualifying depositors. A further 183 meetings had been scheduled for eligible depositors to come into the selected First National Bank (FNB) branches to receive their funds, it said in a statement.

This follows an announcement made by the SARB on June 8 that eligible Habib Overseas Bank depositors would be paid up to R100 000 each and that FNB would facilitate these payments.

Since June 12, FNB had been contacting eligible depositors through email and telephone to arrange time slots for these depositors to visit designated FNB branches to claim their funds.

Craig Du Plessis said: “We are pleased with the work done to date by the teams, to pay these funds of up to R100 000 to eligible depositors.”

However, he appealed to Habib Overseas Bank depositors who had not been contacted by FNB, “to please call FNB on 087 030 4561 so that they could check their eligibility and arrange a time slot to visit a designated FNB branch to collect their funds”.

A depositor with more than R100 000 in their account would continue to have a claim against Habib Overseas Bank for the remaining balance after the payment of R100 000.

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