{"id":1099,"date":"2024-07-29T18:38:05","date_gmt":"2024-07-29T18:38:05","guid":{"rendered":"https:\/\/www.bursariesafrica.co.za\/tvet\/?page_id=1099"},"modified":"2026-09-16T21:33:19","modified_gmt":"2026-09-16T21:33:19","slug":"which-bank-does-nsfas-use","status":"publish","type":"page","link":"https:\/\/www.bursariesafrica.co.za\/tvet\/which-bank-does-nsfas-use\/","title":{"rendered":"Which Bank Does NSFAS Use?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">For 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&#8217;s choice, at any bank. NSFAS itself pays through its own internal banker, which it does not name. Details are on <a href=\"https:\/\/www.nsfas.org.za\/content\/mastercard.html\" target=\"_blank\" rel=\"noopener\">NSFAS&#8217;s bank account page<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Rules for your bank account<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The account must be in your own name.<\/li>\n\n\n\n<li>Give one active account only; inactive accounts cause failed payments.<\/li>\n\n\n\n<li>Normal bank fees apply.<\/li>\n\n\n\n<li>Only students with approved funding can submit bank details.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">How to add your bank details<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Log in to <a href=\"https:\/\/my.nsfas.org.za\/\" target=\"_blank\" rel=\"noopener\">myNSFAS<\/a>.<\/li>\n\n\n\n<li>Go to Profile Information.<\/li>\n\n\n\n<li>Open bank account details, enter your account and save.<\/li>\n\n\n\n<li>NSFAS verifies the details with the bank within seconds of submission.<\/li>\n<\/ol>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">Do not use the old NSFAS Direct Payment black card. It is no longer used for TVET allowances.<\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">What changed<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>Period<\/th><th>How TVET allowances were paid<\/th><\/tr><\/thead><tbody><tr><td>Before May 2024<\/td><td>Through direct payment service providers, including eZaga, Coinvest, Noracco and Tenet Technology<\/td><\/tr><tr><td>From 25 May 2024<\/td><td>Directly from NSFAS into students&#8217; own bank accounts<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The Western Cape High Court later found the contracts with those payment providers unlawful and invalid, according to an NSFAS and SIU statement.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">University students<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In 2026, university students receive allowances through their universities, not directly from NSFAS. Ask your university financial aid office which account details it needs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">See <a href=\"https:\/\/www.bursariesafrica.co.za\/tvet\/how-often-nsfas-pay-for-college-students\/\">how often NSFAS pays<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Frequently asked questions<\/h2>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1790100001099\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">Can I use any bank for NSFAS allowances?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Yes, for TVET students. NSFAS says allowances go into a bank account of your choice, with any bank, in your own name.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1790100001100\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">Can I use my parent&#8217;s bank account for NSFAS?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>No. NSFAS says the bank account must belong to you.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>For TVET college students, there is no single NSFAS bank. Since 25 May 2024, NSFAS has paid TVET allowances directly [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"_ba_keyfacts":"","_ba_provider_contact":"","_ba_provider_name":"","_ba_provider_type":"","_ba_provider_cat":"","_ba_writer":"thabo-mokoena","_ba_reviewer":"naledi-khumalo","iawp_total_views":25,"footnotes":""},"class_list":["post-1099","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.bursariesafrica.co.za\/tvet\/wp-json\/wp\/v2\/pages\/1099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bursariesafrica.co.za\/tvet\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.bursariesafrica.co.za\/tvet\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.bursariesafrica.co.za\/tvet\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bursariesafrica.co.za\/tvet\/wp-json\/wp\/v2\/comments?post=1099"}],"version-history":[{"count":1,"href":"https:\/\/www.bursariesafrica.co.za\/tvet\/wp-json\/wp\/v2\/pages\/1099\/revisions"}],"predecessor-version":[{"id":1537,"href":"https:\/\/www.bursariesafrica.co.za\/tvet\/wp-json\/wp\/v2\/pages\/1099\/revisions\/1537"}],"wp:attachment":[{"href":"https:\/\/www.bursariesafrica.co.za\/tvet\/wp-json\/wp\/v2\/media?parent=1099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}