The National Student Financial Aid Scheme is an important resource for South African students as it supports them financially and enables them to continue their education.
Many students enquire about transferring funds directly from NSFAS to a personal bank account.
This article will share the NSFAS disbursement methods and offer alternative solutions for managing your NSFAS allowance.
Does NSFAS send money to my bank account?
Currently, NSFAS does not directly deposit funds into student bank accounts.
There are two main methods NSFAS utilizes to disburse allowances:
- NSFAS Wallet: This cellphone-based system allows students to receive and manage their funds. NSFAS sends a welcome SMS to students upon account creation, guiding them through the verification process. Once they’re verified, students can use their NSFAS Wallet for various purposes, including:
- Withdrawing cash at partnered stores (Checkers, Boxer, U-Save, and select Spar locations).
- Making in-store purchases at registered merchants.
- NSFAS Bank Account (Pilot Program): A pilot program is underway offering some university students a virtual card with “Tap to Pay” functionality and the ability to perform Electronic Funds Transfers (EFTs) through a partner bank’s mobile app. This option is not yet widely available, so students should check with NSFAS directly to see if they qualify for the pilot program.
How do I transfer money from NSFAS to bank account?
Since the NSFAS Wallet doesn’t directly transfer funds to external accounts, students cannot perform traditional bank transfers from their NSFAS Wallet.
However, students can still access their NSFAS funds through withdrawals or in-store purchases.
What is the wallet number for NSFAS?
There isn’t a single wallet number for NSFAS in the general bank account sense. The NSFAS Wallet is linked to your cellphone number used during registration.
This phone number acts as your primary identifier for accessing your account balance and performing transactions.
How do I check my NSFAS allowance balance?
There are two ways to check your NSFAS allowance balance:
- USSD Code: Dial 134176# on your cellphone and enter your password. You’ll then have the option to view your cash balance and recent transactions.
- Online Platform: Visit https://celbux.appspot.com/ and log in using your cellphone number and password. This platform offers a more detailed view of your account activity.
How do I withdraw money from NSFAS without a card?
Since NSFAS mainly uses the NSFAS Wallet system, students can withdraw cash without a debit or credit card. This is the process to follow:
- Generate a Cash Voucher: Through USSD (134176#) or the online platform, choose the option to create an NSFAS cash voucher. Specify the amount you wish to withdraw.
- Visit a Participating Store: Go to a partnered store like Checkers, Boxer, U-Save, or select Spar locations. Present the generated cash voucher to the cashier.
- Receive Cash: The cashier will deduct the voucher amount from your NSFAS Wallet balance and provide you with cash. It’s important to note that participating stores may have daily withdrawal limits.