How To Withdraw With NSFAS Mastercard

How To Withdraw With NSFAS Mastercard. NSFAS cash vouchers play a pivotal role in facilitating financial transactions for students utilizing the NSFAS Wallet. This digital platform is especially designed for TVET College students funded by NSFAS, providing a convenient location for their allowances and easing withdrawals and payments for personal needs. Check Also: NSFAS Online Application 

NSFAS Cash Voucher Usage

• Merchant Transactions: Utilize cash vouchers at various merchants and participating stores without incurring charges.
• Withdrawal Fee: While no charges apply for purchases, a R10 fee is deducted when withdrawing cash using a cash voucher from a cashier, serving as a transactional fee by participating stores.

How to Withdraw Cash From Your NSFAS Wallet

1. Ensure you have been granted a NSFAS bursary.
2. Dial 120176# and follow prompts to verify and authenticate your account.
3. Set your password during Step 2 for account access (never share your password).
4. Access your account by dialing the shortcode.
5. Withdraw cash from participating stores like Shoprite, Usave, Checkers, SPAR, Boxer, or Pick n Pay.

How to Transfer Balance From NSFAS Wallet to Bank Account

NSFAS doesn’t allow direct transfers, but you can transfer your wallet balance to your bank account using a two-step process:

1. Create a cash voucher for withdrawal.
2. Withdraw cash from a merchant store and deposit it into your bank account.

Checking Voucher Transactions and Balances

Total Vouchers Generated:

• Dial 120176#.
• Enter your password.
• Select Option 3 (Vouchers).
• View and read the voucher number to the cashier.

View Wallet Transactions:

• Dial 120176#.
• Enter your password.
• Select Option 2 (Query).
• View cash balance and recent transactions.

Making Payments to Informal Merchants

• Dial 120176#.
• Enter your password.
• Select Option 4.
• Enter the merchant code, amount, and click Send.

Note: Each step must be completed within 20 seconds, and a R10 withdrawal fee applies when withdrawing cash through the voucher system.

Conclusion

The NSFAS Cash Vouchers and Wallet offer students a seamless way to manage their allowances, make purchases, and withdraw cash. Regularly checking transactions and balances ensures students stay informed about their financial status and spending patterns. For any queries or issues, refer to the designated NSFAS helpline or support services.