NSFAS allows students to receive their allowances via the NSFAS Wallet payment method. Students make use of the system to pay for monthly essentials as well as learning materials.
The National Student Financial Aid Scheme (NSFAS) introduced the NSFAS Wallet as a way for students to receive their monthly allowances. The NSFAS Wallet allows students to withdraw cash and/or purchase goods at any merchant registered by NSFAS.
Unfortunately, students are not able to transfer funds from their NSFAS Wallet into another bank account. However, the NSFAS Wallet is like a bank account.
Students may, however, create a cash voucher using their NSFAS Wallet. Students may then take the cash voucher to a participating store to receive the cash in return.
How To Transfer Money From NSFAS Wallet To Bank Account
These are the participating stores which redeem cash vouchers:
- Checkers
- Boxer
- USave
- Selected Spar stores.
There is no spending limit when withdrawing cash or purchasing goods from participating stores. You may spend up to the maximum value of your cash wallet.
When the student’s NSFAS Wallet has been created by NSFAS, they will receive a “Welcome” SMS asking them to verify their account. Once their account is activated, they will be able to gain access to their funds.
Students may set up their NSFAS Wallet by following these easy steps:
- Receive a Welcome SMS.
- Verify your account by dialling *120*176# and reply with your ID number.
- Receive a password that you will use when transacting. (Keep this password safe.)
- You may visit Celbux.appspot.com to change your password. (Use the above password you received to log in.)
There is no spending limit when withdrawing cash or purchasing goods from participating stores. You may spend up to the maximum value of your cash wallet.
