How To Withdraw Cashless With NSFAS Card

By | July 19, 2023

How to Withdraw Cashless with NSFAS Card

The National Student Financial Aid Scheme (NSFAS) in South Africa provides financial assistance to students pursuing higher education. To enhance convenience and security, NSFAS has introduced cashless disbursements through the use of NSFAS cards. These cards allow students to access their funds electronically without the need for physical cash. In this article, we will guide you on how to withdraw cashless with an NSFAS card.

  1. Activate Your NSFAS Card: Before you can withdraw funds, you need to activate your NSFAS card. This can be done by visiting the NSFAS website or contacting the NSFAS helpline for assistance. Follow the instructions provided to activate your card, which usually involves linking it to your bank account.
  2. Identify Accepting Merchants: NSFAS has partnered with various merchants who accept the NSFAS card as a form of payment. These merchants include supermarkets, retail stores, and other authorized points of sale. Look for the NSFAS logo or inquire with the merchant to confirm if they accept the card.
  3. Make a Purchase: Once you have identified a participating merchant, you can make a purchase using your NSFAS card. Select the items you wish to purchase and present your card at the point of sale. The transaction will be processed electronically, deducting the purchase amount from your NSFAS card balance.
  4. Cashback Option: Some merchants offer a cashback option, allowing you to withdraw a portion of the transaction amount as cash. When making a purchase, inquire if the merchant offers cashback and specify the desired cashback amount. The cashback amount will be added to your total transaction, and you will receive the cash along with your purchase.
  5. Check Your Balance: It is important to regularly check your NSFAS card balance to ensure you have sufficient funds for purchases. You can check your balance at an ATM or by using the card’s online portal or mobile app, if available. Keeping track of your balance helps you manage your expenses and avoid any potential overdraft situations.

Remember to handle your NSFAS card with care and keep it in a secure location. Report any lost or stolen cards immediately to NSFAS to prevent unauthorized use.

In conclusion, withdrawing cashless with an NSFAS card offers convenience and security for students receiving financial aid. Activate your card, identify participating merchants, make purchases using the card, and inquire about cashback options. Regularly check your balance to manage your funds effectively. By following these steps, you can easily access your NSFAS funds and use them for your educational and living expenses.

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