NSFAS assists several South African students with financial support for their tertiary education.
Part of this support comes in the form of an NSFAS Wallet, which allows you to manage your allocated funds electronically.
However, you might need to convert some of these funds to cash at some point.
This article will guide you through the process of converting your NSFAS voucher to cash safely and conveniently.
What is an NSFAS voucher?
An NSFAS voucher is a digital code generated through your NSFAS Wallet that represents a specific amount of money.
You can use this voucher to withdraw cash at partnered merchants or pay for approved purchases directly from your wallet.
How do I convert my NSFAS voucher to cash?
Converting your NSFAS voucher to cash is a simple two-step process:
- Generate a Cash Voucher: You can generate a cash voucher through your NSFAS Wallet using either a USSD code or the NSFAS mobile app. Here’s a breakdown of both methods:
- USSD Method: Dial 134176# on your cellphone and follow the prompts. Enter your NSFAS Wallet password and select option 1 for “Cash Voucher.” Then, enter the desired withdrawal amount and confirm the transaction. You’ll receive a unique voucher code via SMS.
- Mobile App Method: Download and log in to the NSFAS mobile app. Go to the “Wallet” section and select “Generate Cash Voucher.” Enter the withdrawal amount and confirm the transaction. The app will display your unique voucher code.
- Withdraw Cash at a Partnered Merchant: With your generated voucher code in hand, visit any participating Shoprite, Usave, Checkers, SPAR, Choppies, or Boxer store. Locate the Money Market counter and present your voucher code to the cashier. You’ll receive the cash equivalent of your voucher amount, minus any applicable withdrawal fees.
Remember that participating merchants may have daily withdrawal limits ranging from R200 to R1,000.
Can you withdraw NSFAS voucher from ATM?
Yes, you can directly withdraw your NSFAS voucher funds from an ATM. But keep in mind that the system is designed for withdrawals at partnered merchants only.
How does NSFAS voucher work?
Your NSFAS Wallet acts as a virtual account linked to your NSFAS funding. Any allocated funds for approved expenses may be deposited into your wallet.
You can then manage these funds through the mobile wallet app or USSD code.
These are some of the functionalities:
- Generate Cash Vouchers: You can convert your wallet balance into cash vouchers for withdrawal at partnered merchants.
- Direct Payments: Pay for approved purchases directly from your wallet at merchants with NSFAS Wallet integrations.
- Track Transactions: View your transaction history and monitor your wallet balance.
Does NSFAS voucher expire?
No, NSFAS vouchers do not expire. If you do not withdraw the total amount of your voucher, your change will just be added to your cash balance.