Students who are funded by NSFAS, are to know how to register for NSFAS Bank Card.
As part of the new payment system introduced by the National Student Financial Aid Scheme (NSFAS), all funded students are to have an NSFAS bank card.
In this article, you’re going to learn how to register NSFAS Bank Card to receive payment for your monthly allowances.
So, let me take you through the process.
How To Register For NSFAS Bank Card
- Go to www.tenetech.co.za/studentinfo/
- Click on NSFAS Students
- The SMS will contain a link to download the app
- Register your student number
- Fill out and complete your personal details
- Upload a photo of your SA ID to securely verify that it is you
- Upload a selfie while holding your SA ID to verify yourself further
- A bank account will be assigned to your student number
- A bank card will be given to you at your college campus
As part of the digital transformation at NSFAS, all NSFAS beneficiaries at universities and TVET colleges will start receiving their allowances and transacting through the NSFAS bank card as of the 2023 academic year.
After completing your nsfas bank care registration for NSFAS allowances payment, you’ll need to activate it before the card will be functional.
I recommend that you read How To Activate NSFAS Mastercard for the instructions to activate your NSFAS bank card.
What Are The Benefit Of The NSFAS Bank Card To Students?
With the new NSFAS direct payment via the NSFAS Mastercard, the system will help students in these ways.
- Access to value-added services.
- Value for money-negotiated rates.
- Banking freedom.
- Make online transactions and purchases.
- Download the allocated partner’s mobile app and perform EFT transactions.
- ‘Tap to Pay’ functionality and virtual card to pay securely at merchants.
- Receive an sms each time a transaction is carried out via their account.
- The card will be pin enabled which will make it difficult for non-owners to use it fraudulently.
- All these will afford beneficiaries control over their finances and teach them financial responsibility.
To guarantee a pleasant student experience and that student allowances are used for what they are intended for, NSFAS has taken precautionary measures, and the system will be secure and easy to use.
Here is how it will be done.
- Students will be issued a physical and a virtual card.
- The new system will be able to restrict transactions to allowable commodities.
- Students will receive third-party customer rewards as part of the value-added.
- The use of student data will be in line with the Protection of Personal Information Act (POPIA).
- There will be a call Centre facility and several query resolution mechanisms to support students nationally, anywhere in the country.
- The solution will allow students to capture, validate and update their personal details through a secure validation mechanism.
- The solution meets all financial sector regulatory standards and can stop payments, and block/unblock and flag accounts in cases of fraud, death, etc.
- Students will receive essential messages via SMS, email, or other platforms at different points of their transacting journeys.
- Students will have complete visibility of all transactions and balances.
Who Qualifies To Register For NSFAS Bank Card?
Only students approved to receive NSFAS funding. This goes to universities and TVET College students who are being funded by NSFAS.
Again, you cannot register for the NSFAS bank card if your application was not approved and you’re not going to receive funding from NSFAS.
Can You Change Your NSFAS Bank Card?
Students will be allowed to change their NSFAS bank card if they can give good reasons for the change.
This means, onluess, the current card you’re holding does not function as intended to, you cannot change your card.
Can You Replace Your NSFAS Bank Card?
You can replace your NSFAS bank card only if the current has stopped working or you have lost it.
For precautions and security reasons to keep your NSFAS allowances, safe, students will not be allowed to frequently change their NSFAS banking cards anyhow.
There should be a good reason in order to be able to change replace the NSFAS card.
What If I Lost My NSFAS Bank Card Pin?
You’ll be able to change your card pin if you forget your NSFAS bank card pin and as a result your card gets blocked.
It will take you a few process to complete chaning your pin. You should read How To Change NSFAS Mastercard PIN for the instructions.
Which Bank Accepts NSFAS Bank Card?
Currently, students will be able to withdraw cash with their NSFAS banking card from any ATM of any bank in South Africa.
This means, the card fuctions exactly as everyday debit and credit cards
In concluson, the National Student Financial Aid Scheme (NSFAS) has introduced card payment system called NSFAS Mastercard.
NSFAS will pay student allowances through the mastercard and student can withdraw cash via ATMs.
Students who are funded by NSFAS are those who can register for the banking card.
The new payment system will rollout from 2023 academic year.
You can contact NSFAS for more inquiries with these details. Toll Free: 08000 67327 | firstname.lastname@example.org
I do hope this article on how do I register for nsfas bank card was helpful. You can ask your question in the comment.