The introduction of the NSFAS wallet can be seen as one of the most innovative ideas to be implemented. This system has reduced long queues at the bank and also eased transactions. The NSFAS wallet has made tracking fund expenditure simple.
The NSFAS funds are meant for certain purposes; therefore, you can not spend them on lavish items. The NFSAS requires all allowances provided must be in the right spot.
Now the most asked question about new NSFAS applicants surrounds the idea of an NSFAS wallet, account access, withdrawal, and transactions. This article will look at how to access NSFAS account balance and share the know-how with you. This will make your life easy and stress-free.
How do I access my NSFAS funds?
Accessing your NSFAS funds is about how you can make various transactions. If you have received an alert on your phone or email and looking to access this fund, make sure to read the guide below. The National Students Financial Aid Scheme disburses funds to students who have been approved for NSFAS and are already enrolled in the university.
NSFAS has made it very easy for all students to access their funds upon receipt. This method requires using your mobile number associated with your NSFAS account. If you want to access your NSFAS funds, this guide will help you.
- Once you have received or looking to receive your funds from NSFAS, then it means you must receive your NSFAS approval for funds receipt.
- Dial *120*176# on your mobile phone and follow the prompt to verify your NSFAS account.
- You will be required to choose your own password that will be used to access your account anytime.
- After this, your account will be verified.
- Once again, dial *120*176# on your mobile phone.
- You will receive prompts that allow you to choose whether to pay for goods or withdraw cash.
How do I check my NSFAS balance with USSD code?
All NSFAS applicants who have received approval qualify to receive funds into their NSFAS account. Once you have received your allowance, the need to check your balance and do other transactions will arise. NSFAS provides students with a wallet linked to their phone numbers, which is used for authentication and verification purposes.
The method of checking your NSFAS balance is widely used by many as this is a simple method. It does not require any internet or smart device. All you need is your number associated with your NSFAS account with an active network. Students who have received their funds from NSFAS and looking to check their balance using the USSD code can follow the steps below.
- Dial the short code *134*176# on your mobile phone.
- Enter your password after receiving the prompt.
- Ensure to enter your password immediately, and press send.
- After the entry, you will receive a list of options available.
- Select option 2, which should be “Query”.
- You will receive another option that says view “cash balance and transactions”.
- This will provide you with your account balance and all transactions done so far on your account.
How do I withdraw money from NSFAS?
The method of withdrawing money from your NSFAS account is similar to that of withdrawing at the bank. The two differences in the above process are the fact that the applicant does everything on your side, and their withdrawal is made at convenience stores. It is possible to withdraw money from NSFAS, which can be done with a voucher. In this section, we will give you the simple steps on how to withdraw money from NSFAS.
- Dial *126*176# on your mobile phone.
- Enter your own password and press send.
- You will receive a couple of options on your phone; choose option 3 – vouchers.
- Enter your desired amount to create the voucher.
- Save the voucher details on your phone and visit any accredited NSFAS store.
- Mention the voucher number to the store manager to receive your cash.
How can I transfer my NSFAS wallet to bank account?
This question will always come into the minds of new applicants or freshers. The thought of accessing their account or checking their balance will always linger around. The know-how about the NSFAS wallet is very important if you do not want your account to be compromised.
One thing you have to understand is that the NSFAS wallet is a bank account on its own. The difference between a real bank and an NSFAS wallet is not that significant The NSFAS wallet functions just the same way a bank function but comes with restrictions. This is not because NSFAS wants to stop you from spending your allowance but also to track your transaction.
If you are wondering “how you can transfer my NSFAS wallet to a bank account”, this is meant for you. You must know that transferring money from your NSFAS wallet to your bank account is impossible. The function of the wallet works like a bank account, and therefore you can not make transactions between your NSFAS wallet and bank.
