Neobank Volt to shut down, return deposits to customers after funding struggles

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Neobank Volt to shut down, return deposits to customers after funding struggles | simonefoxkoob

, Volt was urging all customers to withdraw their funds from their Volt bank accounts before July 5.

“In reaching this difficult decision we have considered all options but ultimately, we have made this call in the best interest of our customers,” Volt chief executive Steve Weston said. Volt said it has executed a transaction to sell its mortgage portfolio and started returning all deposits to customers in full.

 

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