Last updated on September 29th, 2022 at 10:15 am
Do you want to know how much can you withdraw from NSFAS Wallet? Congratulation if you’ve been approved for NSFAS funding.
Most of the students after their application for NSFAS funding is approved turn to ask how much money can you withdraw from their wallet?
This is one of the most frequently asked questions by students who are approved by the National Student Financial Aid Scheme to receive funding for their public university and TVET College education.
So, we’re going to walk you through this article and provide answers to the question of how much can you withdraw from NSFAS Wallet.
If you’re inquiring about this question, we assume you have been granted an NSFAS bursary and NSFAS has created your wallet for you.
Have you gotten your NSFAS Wallet? If no, then see How To Activate NSFAS Wallet for the step-by-step guide to activate your wallet.
Let’s now jump to the topics.
How Much Can You Withdraw From NSFAS Wallet?
You can withdraw all your cash from your NSFAS wallet once NSFAS disburses your allowances into your NSFAS E-Wallet as long as you’re the rightful owner of the wallet.
When you’re approved to get NSFAS funding for your education, you’re eligible to enjoy all the NSFAS packages including NSFAS paying your registration fees, tuition fees, accommodation, and receiving incidental/personal care allowances.
Once your personal care allowances are deposited into your NSFAS Wallet, it is yours and yours only to decide whatever you’ll want to do with it.
Again, you can spend all the cash in your wallet however and whenever you want, but you should spend wisely so that your allowances can cover you throughout the month if you survive on the NSFASthe allowances.
Always spend your NSFAS allowances wisely and try to cultivate money conciousness in your spending lifestyle.
universityonlineapplication.com
Now, let’s see some of the frequently asked questions related to how much you can withdraw from NSFAS wallet.
Can You Withdraw Cash From NSFAS Wallet At Once?
No, you cannot withdraw all your cash from NSFAS wallet at once. There are some restrictions on the amount of money you can withdraw from your NSFAS wallet at once.
Moreover, you cannot withdraw all the cash in your amount in one day. That is a smart way NSFAS can help you to manage how you spend your NSFAS allowances.
After all, the allowances are to cover you for the whole month before the next disbursements.
So, the reason is to control and help you to spend wisely and not go broke before the end of the month.
Lots of students depend on the NSFAS allowances to survive through the month and if NSFAS does not put spending measures on students’ NSFAS allowances, many will go broke before the month ends and may drop out of school.
NSFAS does not want you to drop out because you could not survive school without money.
universityonlineapplication.com
How Much Can You Withdraw From NSFAS Wallet Per Day?
The amount that you can withdraw from NSFAS wallet per day is R1000. You cannot spend more than the set amount from your NSFAS wallet per day.
Also, you cannot perform withdrawal from your NSFAS wallet if you have not activated your wallet.
You should therefore know What Happens After Activating NSFAS Wallet? so that, you have a fair understanding of how NSFAS works.
Do You Have To Create NSFAS Wallet Before You Can Withdraw From It?
Yes, your NSFAS wallet is created by the National Student Financial Aid Scheme (NSFAS). However, you’re required to activate the wallet from your end before NSFAS will disburse your allowances into your NSFAS E-Wallet.
You cannot withdraw your allowances if you do not activate your NSFAS Wallet.
universityonlineapplication.com
Why Can’t I Withdraw Cash From My NSFAS Wallet?
You cannot withdraw cash from your NSFAS wallet when your wallet is blocked/locked. Once the NSFAS system detects a wrongful activity in your wallet, they will automatically block it.
This means you will lose all access to your NSFAS wallet to cash out your allowances.
How Do You Unblock Your NSFAS Wallet?
Remember that once your wallet is blocked, the only option is to unblock it so that you can get access to your wallet and make withdrawals.
That is why we have this full article How To Unblock NSFAS Wallet which contains a detailed easy guide to help you unblock your NSFAS wallet.
Note that www.nsfas.org.za is the webpage of NSFAS.
We do hope this article on how much can I withdraw from NSFAS Wallet was helpful?
You can ask your questions in the comment.
