How Do I Create a NSFAS Coinvest Account?

The National Student Financial Aid Scheme (NSFAS) offers various financial aid disbursement methods for funded students.

One of these options is the NSFAS Coinvest Account, a safe and convenient way to receive and manage your allocated funds. 

What is a NSFAS Coinvest Account?

A NSFAS Coinvest account is a free student bank account specifically designed for NSFAS beneficiaries. 

Coinvest is a financial technology company that partners with NSFAS to provide students with a secure and convenient way to receive and manage their allocated funds.

How Do I Create a NSFAS Coinvest Account?

Creating a NSFAS Coinvest account is a straightforward process. Here’s a detailed guide:

1. Visit the Coinvest Website: Go to the Coinvest Africa website at https://www.coinvest.africa/.
2. Pre-Registration (Optional): While not mandatory, pre-registering allows Coinvest to streamline the account creation process. Click on “Pre-Registration” and enter your basic information.
3. Sign Up: Click on “Sign Up” and choose the “NSFAS Student Account” option.
4. Enter Your ID Number: Coinvest will verify your eligibility with NSFAS using your South African ID number. If your application is still being processed, you may encounter an error message. In such cases, try again after some time.
5. Mobile Number Verification: Enter your valid South African mobile number. You will receive a one-time password (OTP) via SMS for verification.
6. Create Login Credentials: Choose a username and a strong password for your account. Avoid using easily guessable information like your birthdate or full name.
7. ID Verification: Take a clear picture of your South African ID card using your phone’s camera. Make sure all the details are visible.
8. Review and Submit: Take your time to review all the entered information before submitting your application.

Once submitted, Coinvest will process your application. You’ll receive a notification upon successful account creation.

How do I get a Coinvest Card?

A Coinvest card is not mandatory, but it offers added convenience.

You can order your card within your Coinvest account dashboard after successful registration. 

There may be a delivery fee associated with the card, so check Coinvest’s website for current charges.

Does Coinvest have an App?

Yes, Coinvest offers a mobile app available for download on both Android and iOS devices.

The app allows you to manage your account on the go, check your balance, view transactions, and make payments easily.

How much does Coinvest charge for NSFAS?

There are no monthly account maintenance fees associated with a NSFAS Coinvest account. 

However, charges may apply for specific transactions like ATM withdrawals, interbank transfers, or point-of-sale swipes with your Coinvest card. 

It’s important to review Coinvest’s fee schedule before using your account to avoid any unexpected charges.