Nasfas has recently release a new way to receive payments from the National Student Financial Aid Scheme this will enable student to receive directs payments from the National Student Financial Aid Scheme. Here’s everything you need to know about the new NSFAS Mastercard.
According to Nsfas, the Mastercards are much safer and aims to eliminate fraud and syndicates who try to hack the system with the aim of redirecting funds to other accounts.
The card will have a personalised pin enabled which will make it difficult for non-owners to use fraudulently.
When the scheme pays Nsfas allowances through the Nsfas Mastercard, students can use the card to withdraw their Nsfas allowances at an ATM and it can be used to make transactions anywhere a standard Mastercard would.
Students will also be able to download any of the allocated partner’s mobile app’s and perform EFT transactions and will receive an SMS each time a transaction is carried out using the card.
Nsfas plans to slowly phase in the card system as students will be contacted individually and won’t all be moved onto the Nsfas Mastercard process at the same time.
Students are cautioned to stay alert, as Nsfas wont prompt them for their passwords, ID numbers, or other personal information if they receive an SMS or other form of correspondence from Nsfas.
Here’s everything you need to know about nsfas card
- The card will be able to with draw from any South African Atm the funds they receive from .
How to apply for nafas
- visit : www.nsfas.org.za to apply online
Posted dates: 13 September 2022