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How To Withdraw Cashless With NSFAS Card

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How To Withdraw Cashless With NSFAS Card, Less and fewer of us are comfortable with cash transactions as the digital era begins. Fortunately, NSFAS is constantly working to make it simpler for students to use its services. They only unveiled a new payment mechanism this year to help students with cashless withdrawals. What you need to know about this new offering is as follows.

How To Withdraw Cashless With NSFAS Card

Until now, those who receive an NSFAS allowance for living expenses and other related student costs have only had access to their eWallet account. It’s possible that you had to withdraw money to pay for your necessities. Now, you will be given an NSFAS Mastercard. This not only enables cashless allowance withdrawals but also offers you more freedom and advantages than the previous arrangement. It will be called eZaga. A cardless withdrawal option is also available by SMS (USSD) code. The *134*7772# prompt on your phone, which is connected to your NSFAS account, can be used to take this step.

  • Log in to your eZaga account.
  • Choose ‘Withdraw Zaga’
  • Select the Nedbank ATM option, or choose one of the participating stores (Pick & Pay, uSave, Boxer, Checkers, and Shoprite)
  • Enter the amount you need
  • You will receive a code within one hour

Use *120*001# and the ‘Get Voucher’ option if you don’t get the code within an hour. The SMS will contain the code. This service won’t require any airtime to utilize. The launch of a call center for this service is imminent.

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How will NSFAS Mastercard work?

The NSFAS Mastercard functions similarly to other debit cards, with a few extra features and restrictions unique to the NSFAS program. You must activate your NSFAS Mastercard by following the instructions once you have received it. Calling a customer support number will be necessary to confirm your identification in this situation.

Your NSFAS funds will be loaded onto your card, and you can use them to cover your tuition, lodging costs, and other study-related costs. The card can be used to make purchases at shops that accept Mastercard as well as ATM withdrawals.

The NSFAS Mastercard has tight restrictions on its use. For instance, you cannot use it to buy cigarettes, alcohol, or gambling-related products. Also, you cannot use it to cover non-educational costs like entertainment or clothing. NSFAS may keep track of your spending and request that you provide receipts or other supporting documents to prove your outlays. This is done to make sure the money is used for what it is intended for.

You must apply for a new NSFAS Mastercard each year that you are eligible for financing because it has a shorter expiration period than other Mastercards. You must notify the NSFAS contact center right once if your NSFAS Mastercard is lost or stolen in order to stop unlawful use.

As the world shifts away from cash to card-based payment alternatives, the NSFAS Mastercard is created to make it simpler for qualifying students to receive support for their education and related expenses.

How do I Check the Balance on my NSFAS Card?

You can still check your eWallet balance via the *134*176# SMS code. However, as you now have your NSFAS Mastercard, you can also check it the same way you would check the balance on a traditional bank account. Insert the card into a participating ATM and enter your PIN, then choose the ‘Check Balance’ option. The ATM will show the funds available to you on the screen.

How do I Withdraw my NSFAS Cash Voucher?

In the last section, we looked at how to create an NSFAS cash voucher on your phone. For specific reasons, NSFAS may also issue you a cash voucher. By selecting “cardless withdrawal” and completing the onscreen instructions, including entering your voucher number, you can use this coupon code at Nedbank ATMs. It is fairly comparable to the current cardless withdrawal options offered by Standard Bank and FNB. Instead, you might stop shopping at participating stores. How? Read on.

  • Use a Boxer, Shoprite, Checkers, Pick & Pay, or Usave store that has a Money Market counter that is able to process NSFAS cash vouchers.
  • Visit the store with your voucher and a valid form of identification, such as your South African ID or passport.
  • Present your voucher and ID to the Money Market cashier and request to withdraw the funds.

The cashier will check your information before completing the transaction. You will be given the voucher’s cash value less any transaction fees. Several of these merchants charge no withdrawal fees. Save your receipt as proof, please. NSFAS cash vouchers are only good for a short period of time and can only be used at the above-mentioned approved stores.

This is a fantastic invention because it will make managing your NSFAS allotment faster and more easy for you.

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