To use NSFAS allowances, beneficiaries must first have them converted to cash vouchers at an accredited merchant or store partnering with NSFAS. This article explains the process of converting a voucher from the NSFAS to cash.
How Do I Convert NSFAS Voucher to Cash
NSFAS Voucher to cash conversions is a simple procedure that anyone can execute with minimal stress and without significant technical knowledge. However, one must first generate a cash voucher. Two channels are available for generating vouchers: the USSD and electronic channels.
To generate vouchers through the USSD method, one only has to perform the following actions:
- Dial the assigned short code, *120*176#
- Input log in the credential (password) and send
- Select the ‘Cash Voucher’ option (Option 1) from the following list.
- Input amount and send.
To generate vouchers through the electronic (web) channel, one is required to perform the following actions:
- Visit https://celbux.appspot.com
- Sign in to your account by filling in your login credentials (mobile number and password) in designated fields.
- Click ‘Pay’ in the subsequent menu.
- Enter ‘amount’ and click ‘Done.’
Beneficiaries then proceed to any merchant or store partnering with the NSFAS to perform cash withdrawals. However, withdrawal transactions are capped at a daily limit within the range of 200 South Africa Rand and 1000 South Africa Rand. Consequently, one is not allowed to withdraw more than 1000 South African Rand from the Wallet within 24 hours.
How do I transfer my NSFAS voucher to my bank account?
NSFAS Cash vouchers cannot be transferred from the Wallet to a bank account. However, they can be used for cash withdrawals at designated merchants and registered stores affiliated with the NSFAS.
It is instructive to note that the amount of money one can access for use from the NSFAS wallet is capped by a daily limit of 1000 South African Rand. If the daily limit is exhausted for one day, one will only be able to access further funds upon the expiration of a period of twenty-four (24) hours.
How Long Does NSFAS Cash Voucher Last Before Withdrawal?
NSFAS Wallet Vouchers (or cash vouchers) have no expiry period. Failure to exhaust available funds in the wallet voucher does not result in a loss of access after a specific period. In other words, as explained elsewhere, “If you do not withdraw the total amount of your voucher, your change will be added to your cash balance .”In summary, the NSFAS cash voucher only lasts as long as the Wallet is loaded with funds.
Does the NSFAS wallet voucher expire?
As stated before now, the NSFAS Wallet voucher has no expiry period. The timeless validity of these wallet vouchers implies that one can use them anytime if the Wallet is loaded with funds. To reiterate, “failure to exhaust available funds in the wallet voucher does not result in a loss of access after a specific period.”
Can I withdraw NSFAS at ATM?
The National Student Financial Aid Scheme (NSFAS) disburses its allowances to aid recipients through the NSFAS Wallet. Beneficiaries must, however, create a cash voucher to be able to withdraw from the NSFAS Wallet. These vouchers are used to perform cash withdrawals at accredited merchants and stores. Beyond this, it is impossible to withdraw from a wallet at conventional ATMs.
How do you receive money from NSFAS?
The NSFAS Wallet is the primary means through which the scheme disburses allowances to beneficiaries mostly enrolled for studies at technical and vocational education training (TVET) colleges.
Allowances disbursed by the scheme fund various expenses incurred during studies. As per the scheme, disbursed allowances are calculated in collaboration with institutions where the beneficiaries are enrolled for studies. However, students registered for accredited study programs at the University of South Africa have their allowances disbursed directly to their accounts.
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If you are looking to fund your tertiary education in South Africa, both NSFAS and Fundi are exceptionally common ways to get financial assistance.
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