NSFAS Wallet: Everything You Need To Know
NSFAS Wallet is an allowance for college-funded students by NSFAS.
Students receive allowances directly from NSFAS to withdraw or spend at any trader that's partnered with the organization.
Let us show you how it works.
The NSFAS Wallet Application
The application process is very simple and straightforward, even first-time users find the process easy to follow.
When you apply, the institution(college) will determine your wallet payment in consultation with NSFAS.
You'll receive an SMS notification welcoming you to the system and verifying your account.
You'll then need to dial *134*176# for a password to access your wallet transactions online. You must ensure to keep your password very safe at all times.
A registered and working cellphone number will be required for depositing your funds. The system works more like the FNB eWallet whereby you'll use your phone number to withdraw or access the money sent to you.
Finally, you'll need to sign your NSFAS Bursary Agreement for terms and conditions if you are a new student.
If you forget the password or change the number, contact the NSFAS Centre - it can happen to anybody.
How to spend your wallet
- Withdraw cash
- Spend at a registered store
Withdraw Cash - You could withdraw your NSFAS wallet at any of the following stores:
- Selected Spar stores
Each of the above-mentioned stores has a daily cash limit of R1000.
Spend At A Registered Store - Here, you have no limits. You could spend your wallet balance at any merchant registered by NSFAS.
Balances And Transactions
Before spending anything, check your balance to avoid reckless spending and penalty fees.
Here's how you do that:
On your cellphone:
- Dial USSD *134*176#
- Enter your password
- Select option 2. Query
- View your NSFAS wallet balance and transactions
- Log in to your account
- Click more, then transactions
- View transactions
Visit www.nsfas.org.za for more information.