The question of how to transfer money from NSFAS wallet to bank account often arises. While the system itself is similar to an eWallet, it does not work exactly the same. Some people claim it is impossible. In this article, I will show you the most common steps to transfer money from NSFAS wallet to bank account. First, you need to have a valid cell phone number. You can get this by dialing *134*176#.
You can also use NSFAS wallet to make cash payments. The NSFAS wallet is like a virtual bank account. When you receive money from NSFAS, you can redeem it at participating stores or use it to buy items. Unlike a traditional bank account, however, NSFAS wallet money cannot be transferred directly to the bank account. However, it can be transferred to a local bank account.
To withdraw money from NSFAS wallet, you must be a student with approved NSFAS funding. Upon approval, you can withdraw your money through ussd code or through the online portal. The password is *134*176#. You can also access your NSFAS wallet via USSD code. This code will allow you to check your balance. You can check the balance of your NSFAS wallet from the online portal.
Another step in the NSFAS wallet to bank account process is to get a card that will give you access to your funds. Once you receive your card, you’ll need to enter your card number to use the NSFAS wallet. You’ll then need to enter your bank account information. This process will take a few minutes. This step is very convenient, but it is not entirely straightforward.
If you’ve been granted NSFAS bursaries, you’ll need to withdraw your allowances as soon as you graduate. Bursaries from NSFAS are usually available online or at National Youth Development Agency services. Students receiving college funding will receive allowances through the NSFAS Wallet. The allowance can be spent at any dealer partner. To make the most of this allowance, you must keep track of your spending and withdraw it regularly.
Alternatively, you can use your cash voucher to withdraw money from your NSFAS wallet. This option makes transferring NSFAS funds to bank account easy and convenient. The transition from high school to tertiary institutions can be an exciting adventure for learners. Unfortunately, not all learners can afford to pay the high fees to attend tertiary institutions. However, by using NSFAS wallet, you can receive your allowance directly.