The National Student Financial Aid Scheme (NSFAS) provides students with a NSFAS wallet which allows NSFAS-funded students at certain tertiary institutions, to withdraw cash or spend it at any merchant registered by NSFAS.
To receive NSFAS Allowances through NSFAS Wallet students will need the following:
- Your own cell phone and valid SIM card
- You must sign your NSFAS Bursary Agreement if you are a new student to NSFAS
- You will not need to withdraw cash to pay your landlord or any registered merchant.
Students must ensure that they have access to their cellphone number that they provided to NSFAS when applying for funding. This is because that number will be used to deposit their funds.
If you are a first time user, the process may seem daunting at first but it is pretty simple. Here is the steps on how to get started with your NSFAS Wallet:
- You will receive an SMS welcoming you to NSFAS Wallet
- Once you receive SMS, open it and verify your account by dialing *134*176# and reply with your ID number
- You will then receive a password that you will use when transacting. Note that you need to keep this password secure at all times!
- Do not keep or save your password on your cell phone and always keep your cell phone’s screen locked with a password or pin.
You can withdraw cash at participating stores such as, Shoprite, Usave, Checkers, SPAR, Choppies or Boxer. These stores do however have a daily cash withdrawal limit of R1000 per day.
You may also pay for goods at participating stores which include, Shoprite, Usave, Checkers, SPAR, Choppies, Boxer, Van Schaiks, Nando’s, Romans Pizza, McDonalds, Burger King, Spur, Hungry Lion, Debonairs, Rocomamas and John Dorys, amongst others. There is no limit for spending at these stores and students may spend up to the maximum value of their cash wallet.
