Register NSFAS Bank Account

Once a South African student has been awarded a bursary, they must register their bank account with the National Student Financial Aid Scheme (NSFAS). Once your NSFAS bank account is registered, you may manage your financial assistance more effectively and guarantee an easy move of cash.

All authorized participants of the National Student Financial Aid Scheme are advised to activate their NSFAS bank accounts. Applicants of NSFAS are the only ones eligible to open an NSFAS Bank Account. All students who receive funding from NSFAS can open this account provided by eZaga.

This is a step-by-step tutorial to help you get through this process without any problems:

What are the benefits of an NSFAS bank account?

Students who open an account can profit greatly from financial freedom. Applicants who register for a #NSFASBankAccount will obtain a real or electronic card that will let them take benefit of features like:

Withdrawing cash from ATMs and selected retail stores.
Making electronic transfers as with normal bank accounts.
They will be able to make online transactions and purchases from online stores.
The card is secure as it comes with a personalized identification number.
Download the allocated partner’s mobile app and perform EFT transactions.
Beneficiaries will own a virtual card with a ‘Tap to Pay’ functionality.
Beneficiaries will have complete visibility of all transactions and balances via different approved
platforms (preferably online, mobile application, and USSD).
An SMS will be sent to them each time a transaction is performed. They still urge all university students whose NSFAS funding for the 2024
academic year has been approved to register for an NSFAS bank account to receive their allowances and have a smooth academic journey.
SMSes and Emails were sent out to university students requesting them to register for their NSFAS Bank Accounts. Click on the link in the messages and register now to avoid delays with receiving your allowance.

Eligibility Criteria to register for NSFAS Bank Account

SASSA grant recipients
South African citizens or permanent residents
Candidates whose annual gross household income combined is not greater than R350 000
individuals with disabilities whose annual gross family income is not greater than R600,000.
Both a cell phone number and email address are required.

NSFAS Card Application

Step-by-Step Guide to Registering Your Bank Account with NSFAS

Log into the NSFAS Online Portal:

Visit the official NSFAS website and log into your account using your username and password. If you don’t have an account, create one by following the registration process.

Access the Bank Account Registration Section:

Once logged in, navigate to the bank account registration section. This section is specifically designated for students to provide their bank account details.

Fill in the Required Information:

Carefully fill in the necessary information, including your bank’s name, branch code, account number, and account type (e.g., savings or current account). Double-check the accuracy of the details before proceeding.

Upload Supporting Documents:

To validate your bank account registration, you may be required to upload certain supporting documents. These might include a bank statement, a stamped bank letter, or any other document specified by NSFAS. Ensure that the documents are clear and legible before uploading them.

Review and Submit:

Thoroughly review the information you provided and the uploaded documents. Make any necessary corrections or adjustments. Once you are satisfied with the accuracy of the details, submit your bank account registration.

Confirmation and Verification:

After submitting your bank account registration, you will receive a confirmation message indicating the successful completion of the process. NSFAS may conduct verification checks to ensure the validity of the provided bank account details. NSFAS Card Application

How to update your Contact Details

Enter your username (email address) and password to access your myNSFAS account and change your phone number or email address. Click Personal Details at the top of the screen after logging in. After that, you’ll be able to change your email address and phone number.

SEARCH MORE: Which Bank Does NSFAS Use

The first essential step in guaranteeing the seamless flow of financial aid throughout your academic journey is registering your bank account with NSFAS. You create the path for prompt payments and simple financial transactions by carefully following these instructions and giving precise information.

NSFAS Contact Details