ustralian bank collapses with thousands of customers told to withdraw funds IMMEDIATELY before it closes all accounts on Tuesday

Volt Bank announced it was closing its deposit taking business on Wednesday

The 140 staff will be left without a job once business shuts next Tuesday

Customers of the neobank have been urged to transfer their funds by July 5

Neobanks operate exclusively online without in-person branches

https://www.dailymail.co.uk/news/article-10967735/Australian-bank-Volt-collapses-140-workers-losing-jobs.html

https://www.reuters.com/business/finance/australias-first-neobank-volt-shut-deposit-taking-business-return-licence-2022-06-29/