Nsfas

NSFAS MasterCard

September 5, 2023
Laye

What is NSFAS MasterCard

What is NSFAS MasterCard – NSFAS Mastercard provides students with an easy way to manage their financial aid funds. Students can access their funds conveniently and securely with a debit card linked to their NSFAS accounts.

Students can use the NSFAS Mastercard at merchants that accept MasterCard to withdraw cash, make purchases, and pay bills. Managing tuition fees, books, and other educational materials can help students manage their expenses related to their studies.

Students can access their NSFAS Mastercard funds securely and easily online or through the NSFAS Mastercard mobile app, as well as check their account balance and transaction history.

NSFAS Mastercard aims to ease the burden of managing one’s finances and allow students to focus on their studies rather than managing their finances.

NSFAS MasterCard

  • NSFAS will provide the following benefits to its beneficiaries:
  • A variety of value-added services are available
  • Value-for-money rates that have been negotiated.
  • Freedom from financial constraints.
  • You can make purchases and transactions online.
  • Using the mobile app of the allocated partner, perform EFT transactions,
  • Tap To Pay and virtual cards can be used to make secure payments at merchants,
  • They will receive an SMS notification when a transaction is made through their account.

Beneficiaries will gain a sense of financial responsibility and control over their finances through all of these measures. Non-owners can’t use the card fraudulently since it’s pin-enabled.

In addition to food and transportation allowances, NSFAS students receive living expenses allowances. By using this solution, they will learn financial responsibility and how to manage their finances effectively. There are plans in place to prepare the students for this big change and equip them with the tools they need to succeed.

The Benefits of NSFAS MasterCard

The NSFAS MasterCard offers a range of benefits that make it an invaluable tool for students. The system enables them to receive and manage their NSFAS funds in a secure and convenient manner. Students can access funds instantly using the MasterCard platform, eliminating the need for cumbersome manual processes.

A second benefit of the NSFAS MasterCard is that it is multifunctional. The card can also be used for online and offline purchases in addition to receiving financial aid. In addition to meeting basic needs, students are able to develop responsible financial habits through this versatility.

Eligibility Criteria

Students must meet certain criteria in order to be eligible for the NSFAS MasterCard. South African citizenship, registration at a recognized South African tertiary institution, and financial need are all requirements. In order to ensure that students meet the criteria, it is imperative they review the latest guidelines.

Distributing Partners

  • coinvest
  • zaga Norraco Tenet
  • Technology
How do I activate the NSFAS Mastercard?
  1. Download the Tenetech NSFAS app.
  2. Register your student number.
  3. Fill out and complete your personal details.
  4. Upload a photo of your SA ID for verification.
  5. Upload a selfie while holding your SA ID.
  6. A bank account number will be assigned to your student number.

Where can I use my NSFAS Mastercard?

  • Nedbank ATMs.
  • Pick n Pay stores.
  • Shoprite stores.
  • Checkers stores.
  • Boxer stores.
  • Usave stores.

How much is NSFAS allowance for 2023?

NSFAS 2023 Allowances for University students
Students who are managed by a university, but self-cater will receive a learning materials allowance valued at R5 460, a living allowance of R16 500 per annum, and an accommodation allowance at a capped amount of R45 000.

How do I withdraw money from my NSFAS Mastercard?

How To Withdraw NSFAS Money On The App
  1. Log into the eZaga mobile app.
  2. Tap on “Withdraw Zaga”.
  3. Tap on “Nedbank ATM”.
  4. Enter the amount you’d like to withdraw and process.
  5. A voucher code will be sent to you within an hour.
  6. If you have not received the voucher code within an hour, dial *120*001 and select “Get Voucher”.

What bank can I use Mastercard?

Editorial and user-generated content is not provided, reviewed or endorsed by any company. Banks with cards on the Mastercard network include Bank of America, Capital One, and Citibank. These three banks, along with several other major banks, offer credit cards and debit cards on the Mastercard payment network.

How to activate your NSFAS MasterCard credit card online

Online card activation is often the fastest way to start using your card, but you’ll first need an online account with your provider. If you don’t yet have one, enroll by providing personal information such as your Social Security number and date of birth, then:

    1. Log in to your card provider online account.
    2. Find your new credit card under Accounts.
    3. Enter your credit card information, such as your card number, expiration date and CVV/CVC.
    4. You may need to verify your ID with information like your date of birth and Social Security number.
 For more information, visit www.nsfas.org.za.