VP Bank – Over $143K In Dormant Accounts!

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(PLTM) - More Than $143,000 is currently sitting dormant in four accounts at VP Bank.

The Main Street-based bank, via a notice released in the Virgin Islands Official Gazette recently, said account holders have a period of three months to rectify the issue before the next steps are taken.

“In accordance with Section 6 (2) (ii), (iii) & (iv) of the British Virgin Islands’ Abandoned Properties and Dormant Accounts Act, 2009 (“Dormant Accounts Act”) if no transaction or related activity is effected in respect of the dormant accounts listed above by the account holders within 60 days of the publication of this notice, the assets in the respective accounts shall be transferred to the Dormant Accounts Fund established under Section 13 (1) of the Dormant Accounts Act,” the bank stated.

It continued: “Assets transferred to the Dormant Accounts Fund can still be reclaimed in the future; however, it will require additional processing involving the British Virgin Islands Financial Secretary.”

Furthermore, the bank is asking interested persons to contact VP Bank (BVI) Ltd to prove ownership of the account.

“Please note that an account holder is entitled to claim repayment of the assets in the dormant account from the institution, subject to any lawful charges agreed to by the dormant account holder and the institution,” it warned.

Dormant accounts

The following has been listed as dormant accounts: Euphorium Capital Corp TMF Place, P.O. Box 964 Road Town, Tortola VG 1110 British Virgin Islands Account total $ 25,399.83

15.210.640 Bird & Co. Ltd. Frejgatan 13 11479 Stockholm Sweden Account total $108,451.34

15.211.510 NN Advanced Directional HY S.A. Mossak Fonseca & Co. (BVI) Ltd. 24 De Castro Street Road Town, Tortola VG1110 British Virgin Islands Account total $3,474.14

15.212.660 Strategic Investment Capital Ltd Global Cap AG Bellerivestrasse 8008 Zurich Switzerland Account total $6,502.57

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