Volt Bank’s Closure: A Heartfelt Decision to Return All Customer Deposits
Australia’s Volt Bank, which is in the process of shuttering its services, has returned the deposits of all of its customers, the Australian Prudential Regulation Authority (APRA) announced on Monday. Volt, which was among the first Australian neobanks, cited funding woes behind its decision to shut down its services in late June. Then, it was…