Everything You Should Know About The NSFAS Mastercard

The NSFAS Mastercard is a direct payment system used by the National Student Financial Aid Scheme (NSFAS) to pay students’ allowances directly to students who are funded by NSFAS.

With this card, you can conveniently pay for school fees and book rental, as well as make purchases at any retailer where Visa is accepted.

The NSFAS Mastercard aims at helping to make payment of NSFAS allowances easier and faster. It is an alternative payment system for students that can make payments without any third-party system like CebuLux, which is prone to errors and scams.

In this article, we’ll discuss more details about the National Student Financial Aid Scheme (NSFAS) Mastercard.

What Is NSFAS Mastercard?

The NSFAS Mastercard is a direct payment solution that allows NSAS to pay the allowances of funded students directly through the MasterCard.

This offers you an alternative way of receiving your student allowance at any time, anywhere, thereby giving you more flexibility on how it’s used.

Who Can Use NSFAS Mastercard?

The NSFAS Mastercard is only available to students who are approved to receive the NSFAS allowance. This means that if you are a student who is not funded by NSFAS, then you are not eligible for the NSFAS Mastercard.

How Does NSFAS Mastercard Works?

The NSFAS Mastercard is a special ATM card that allows students to withdraw money from ATMs and use it like a credit or debit card.

Students who receive the NSFAS subsidy and are enrolled in any formal institution of higher learning can apply for the NSFAS Mastercard.

Do I Need A Bank Account To Use NSFAS Mastercard?

No bank account is needed! You can use your NSFAS Mastercard to withdraw your NSFAS allowances, even if you do not have a bank account.

How Do I Get My NSFAS Mastercard?

Once you’re approved to be funded by the NSFAS, get your NSFAS Mastercard. With this card, you can withdraw cash at any ATM or pay for goods and services at any business establishment that accepts Mastercard.

Students who qualify for the NSFAS Mastercard can pick up their card from the nearest distribution centre at any time after approval.

Is National Student Financial Aid Scheme (NSFAS) will be the sole distributor to give out the NSFAS Mastercards.

  1. Coinvest
  2. Zaga
  3. Norraco
  4. Tenet

Linking your bank account to your NSFAS Mastercard is as easy as linking your credit card to your bank account. The process is the same, however, the process may vary from one bank to another.

Now here’s how you can link your bank account to your Nsfas Mastercard. Just follow the steps given below;

  • Login to the Netbanking portal of the bank whose mastercard you have taken
  • Go to the mastercard section
  • Click on the Register New Card button
  • Enter mastercard details like mastercard number, expiry date, CVV number, etc.
  • Click on the Submit button
  • You will receive an OTP. Enter it and click on Submit.

Within a few hours, your bank will verify the information. If successful then your NSFAS mastercard will be successfully registered. You can then receive your NSFAS allowance, pay your bills, check your balance, etc. from the Netbanking portal.

This is what the NSFAS Mastercard is all about. It is our greatest hope that this article on NSFAS Mastercard is helpful to you.


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