All NSFAS Beneficiaries Need to Know About The NSFAS Bank Card Before Universities And Colleges Reopens
Essential Update on NSFAS Bank Card for Students
Stay informed about the latest changes to the NSFAS bank card system and how you receive your allowances.
Hey there, students! Big news from NSFAS: they’ve made some important changes to how you’ll receive your allowances. Previously, NSFAS introduced a bank card system for disbursing funds. However, this system faced challenges, including high bank charges and delayed allowances.
As a result, NSFAS has decided to discontinue the bank card system. Now, TVET college students can receive their allowances through a bank account of their choice with any bank.
University students will have their allowances paid directly by their institutions until the end of July.
To ensure a smooth transition, TVET students should open a bank account if they haven’t already. Once you have an account, log in to your myNSFAS portal, navigate to ‘Profile Information,’ and enter your new banking details. This will help NSFAS process your allowances without any hiccups.
For university students, keep an eye out for communications from your institution regarding the disbursement of your allowances. Each university may have its own process in place, so it’s crucial to stay informed to avoid any delays.
In summary, while the NSFAS bank card system is being phased out, these new measures aim to provide a more efficient and cost-effective way for you to receive your funds. Make sure to update your banking details and stay in touch with your institution to ensure a seamless experience.
