If you’re a student funded by the National Student Financial Aid Scheme (NSFAS) in South Africa, you may have already heard about the new NSFAS Mastercard. This card marks a major shift in how you’ll receive and manage your monthly allowances. It replaces the older system of disbursing funds through third-party service providers or directly into your bank account. And for that, you also need to understand how to submit Bank Details
This new card isn’t just a payment tool; it’s part of NSFAS’s broader strategy to give you more financial control, increase transparency, and reduce fraud. In this guide, we’ll walk you through how the new NSFAS card works, what you need to do to start using it, and how it can benefit you during your studies.
What Is the NSFAS Mastercard?
The NSFAS Mastercard is a debit card linked to a digital wallet, specifically created for NSFAS beneficiaries. NSFAS partnered with service providers such as Tenet Technology, eZaga, and Norraco to manage this system.
Here’s what the card allows you to do:
-
Receive your NSFAS allowances directly
-
Make purchases at stores that accept Mastercard
-
Withdraw cash at ATMs or retail outlets
-
Track your spending using a mobile app
-
Access statements and balances instantly
This change took a full rollout expected by early 2025 across all universities and TVET colleges.
Why Was the NSFAS Card Introduced?
The old system had several problems, including:
-
Delayed payments
-
Fraud and mismanagement
-
Lack of student financial oversight
-
Dependency on external bank accounts
The new card system is designed to solve these problems by:
-
Ensuring faster and more secure payments
-
Reducing third-party handling
-
Empowering students to manage their money independently
-
Improving compliance and audit trails for NSFAS
Check NSFAS Payment Schedule.
How to Get and Activate Your NSFAS Card
Getting your NSFAS card is straightforward. Here’s what you need to do:
Step 1: Receive Your Invitation
You’ll get an SMS or email from NSFAS or your allocated service provider (e.g., Tenet, Norraco, or eZaga) with instructions. Make sure your contact details on the myNSFAS portal are up to date.
Step 2: Register Online
Visit your service provider’s platform and complete your registration. You’ll likely need:
-
Your South African ID
-
A student ID or registration proof
-
Contact information (phone number and email)
Step 3: Collect Your Card
You’ll be notified when and where to collect your card, usually at your campus. Bring your ID and student card for verification.
Step 4: Activate the Card
Follow the steps given by your provider to activate your card via their mobile app or website. This usually includes:
-
Setting a secure PIN
-
Linking your mobile number
-
Verifying your identity via one-time passwords (OTP)
Once activated, your monthly allowances will be loaded directly onto the card. You can read the procedure of NSFAS Student Portal.
What Can You Use the NSFAS Card For?
Your card works like any standard debit card and can be used for:
-
Buying groceries, books, and toiletries
-
Paying for transport and mobile data
-
Withdrawing cash at ATMs and major retailers (e.g., Shoprite, Pick n Pay, Boxer)
-
Online purchases on approved sites
Spend Management Tools
Through the partner app, you can:
-
Track your transactions
-
Set spending limits
-
Get SMS/email alerts
-
Access mini-statements
This is especially helpful if you’re trying to budget your allowance effectively.
Frequently Asked Questions
The new NSFAS Mastercard is more than a convenient payment method, it’s a powerful financial tool designed to give you autonomy, speed, and security. With better control over your spending and clearer insight into your finances, you’ll be better positioned to focus on what matters most: your education.
Stay alert for updates from NSFAS and your institution. Make sure your personal details on the myNSFAS portal are accurate. And don’t hesitate to reach out to your service provider’s support team if you have issues or questions.
