VerifiedFor TVET college students, there is no single NSFAS bank. Since 25 May 2024, NSFAS has paid TVET allowances directly into a bank account of the student’s choice, at any bank. NSFAS itself pays through its own internal banker, which it does not name. Details are on NSFAS’s bank account page.
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Rules for your bank account
- The account must be in your own name.
- Give one active account only; inactive accounts cause failed payments.
- Normal bank fees apply.
- Only students with approved funding can submit bank details.
How to add your bank details
- Log in to myNSFAS.
- Go to Profile Information.
- Open bank account details, enter your account and save.
- NSFAS verifies the details with the bank within seconds of submission.
Do not use the old NSFAS Direct Payment black card. It is no longer used for TVET allowances.
What changed
| Period | How TVET allowances were paid |
|---|---|
| Before May 2024 | Through direct payment service providers, including eZaga, Coinvest, Noracco and Tenet Technology |
| From 25 May 2024 | Directly from NSFAS into students’ own bank accounts |
The Western Cape High Court later found the contracts with those payment providers unlawful and invalid, according to an NSFAS and SIU statement.
University students
In 2026, university students receive allowances through their universities, not directly from NSFAS. Ask your university financial aid office which account details it needs.
See how often NSFAS pays.
Frequently asked questions
Can I use any bank for NSFAS allowances?
Yes, for TVET students. NSFAS says allowances go into a bank account of your choice, with any bank, in your own name.
Can I use my parent’s bank account for NSFAS?
No. NSFAS says the bank account must belong to you.