Can You Withdraw NSFAS Money?

Can You Withdraw NSFAS Money?

If you’re a South African student receiving financial support from the National Student Financial Aid Scheme (NSFAS), you might be wondering if it’s possible to withdraw the money that has been allocated to you. NSFAS provides students with a digital wallet known as the NSFAS Wallet. This wallet is where your funds are deposited, and it gives you access to your allowance for things like food, travel, personal care, and other approved expenses. You can use the NSFAS Wallet to withdraw cash or pay for items at registered merchants who accept NSFAS payments.

It’s vital to remember that NSFAS funding is designed to help you cover essential study-related expenses. These include tuition fees, accommodation, transport, meals, and other basic needs while you study. Although you can withdraw the money, it’s meant to be used responsibly. The system does not urge students to take out cash for personal or non-educational reasons.

However, in certain situations where you may need cash—such as buying food from vendors who don’t accept digital payments—you are allowed to withdraw. Just make sure you use your funds wisely so you don’t run out of support before your next allowance is paid. Always keep in mind that NSFAS is there to help you succeed in your studies, so make financial decisions that support that goal.

General NSFAS Wallet Information

• When your NSFAS Wallet account is created by NSFAS, you will receive a “Welcome” SMS advising you to verify your account.
• Ensure at ALL times that you have access to the cell phone number you provided to NSFAS upon application, as this is the number we will use to deposit your funds.
• Should you wish to withdraw cash, you may do so at any of our cash withdrawal merchants, Checkers, Boxer, U-Save and select Spar stores. Note that these stores have daily cash withdrawal limits of R200 – R1000 per day.
• Spending at a registered store has no limit, i.e. you can spend up to the maximum value of your cash wallet.

NSFAS Money Withdrawal

Your NSFAS Wallet will enable you to withdraw cash and/or spend it at any NSFAS-registered business. Allowance amounts are decided by institutions and sent to NSFAS when you enrol. To withdraw your NSFAS money, you need to create your NSFAS wallet account. Follow the steps to create your wallet account.

How to get started (1st time users)?

• Receive an SMS welcoming you to the NSFAS Wallet
• Verify your account by dialling *120*176# and replying with your ID number
• Receive a password that you will use when transacting. Note that you need to keep this password secure at all times, as anyone with access to your password may access or spend your money. It is advisable to log in to Celbux.appspot.com with your 5-digit password and update your password to something more secure and memorable.
• Do not keep or save your password on your cell phone, and always keep your cell phone’s screen locked with a password or PIN.

Can You Withdraw NSFAS Money?

Required Documents To Receive Your NSFAS Allowance 

Provide the following to receive your allowance via your wallet;

• Your cell phone and a valid SIM card
• You must sign your NSFAS Bursary Agreement if you are a new student to NSFAS
• You will not need to withdraw cash to pay your landlord or any registered merchant.

Contact NSFAS

NSFAS Virtual Contact Centre

We are available to assist through the following channels:

• Email: info@nsfas.org.za
• Facebook: National Student Financial Aid Scheme
• Twitter: @myNSFAS
• Instagram: @myNSFAS
• WhatsApp: +27 78 519 8006
• USSD:*120*67327#

For general, student and NSFAS Wallet enquiries

• For all other queries regarding students:
• Tel No.: 08000 67327
• Email: info@nsfas.org.za

Physical Address

• The Halyard, 4 Christiaan Barnard St,
• Cape Town City Centre,
• Cape Town, 8001

Visit the official website of NSFAS for more information. I hope the provided information is helpful. Share your thoughts below in the comment section.

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