NSFAS, which offers the prospect of tertiary education to those who cannot afford it by conventional means, is important to South Africa’s future.
This is why having access to knowledge on the inner workings of NSFAS is so important to address the educational gap in South Africa.
Something this article seeks to address by giving you all the information you need on NSFAS’s cash voucher.
What is NSFAS cash voucher?
Receiving a monthly stipend from the NSFAS is one of the most pertinent functions of the bursary scheme.
For most beneficiaries, the monthly allowances help students meet both their academic and personal needs, helping see the course of their academic tenure through.
This is why the NSFAS cash voucher was introduced by the fund in order to meet these objectives.
NSFAS cash voucher is a redeemable voucher that can be used to purchase items or swap for cash at a number of participating stores around the country.
It is intended for students who use NSFAS wallet, with NSFAS wallet being used by TVET college and university students to collect their monthly allowances from the bursary fund.
NSFAS cash vouchers must be created on the myNSFAS online portal for students to withdraw money from their NSFAS wallet.
How does NSFAS cash voucher work?
NSFAS cash voucher is the method by which a bursary beneficiary is able to cash in on the monthly allowances paid out to their individual NSFAS wallets on the bursary schemes online portal.
To be able to create and use NSFAS cash voucher, you must first have NSFAS wallet.
All prospective students wishing to engage in an academic tenure under the sponsorship of NSFAS, who are approved, receive NSFAS wallet to which their monthly allowance is dispensed.
NSFAS wallet is an online account where you can access your monthly allowance, as well as track the status of your monthly spending amongst other bursary-related functions.
A cash voucher is the means by which you are able to make use of your monthly allowance, either by withdrawing cash at a participating store or using the voucher to purchase goods directly.
To activate your NSFAS wallet as NSFAS beneficiary, simply dial *134*176# and enter your ID number to verify and authenticate your account.
This will prompt the system to give you a password via SMS, which will grant you access to your account.
Once you have received your password, you can access your NSFAS account via a shortcut by dialing *134*176#
Should you wish to make use of your monthly stipend from the bursary scheme, this is where you will have to create a cash voucher to tangibly access your funds.
To create a cash voucher, simply access your account as mentioned above; once you have dialed the short code and entered your password, select option 1. Cash Voucher, and click send.
Enter the amount of money you want to redeem in person and click on send once again. Your newly created voucher will be displayed.
Once you have created a voucher, you can access it by returning to your NSFAS wallet and selecting option 3. Vouchers and clicking on send.
This will display the voucher on screen, giving you the opportunity to read out the voucher number to a cashier at any one of the participating stores to either complete a purchase of goods or withdraw cash.
Who can use NSFAS cash voucher?
Both the NSFAS cash voucher and NSFAS wallet are, by design, intended to be used by beneficiaries of the bursary scheme.
This is why access to the wallet is restricted to individual use by the specific students eligible for monthly payment remittances according to the rules of NSFAS.
Security measures such as access to an account from the same phone number used to register for NSFAS bursary are in place to protect against fraudulent use of NSFAS accounts.
Sharing the particulars of your NSFAS account and changing your active phone number to a different one from the one you initially registered for funding with can and will result in your account being locked until further notice.
NSFAS’s social media accounts are inundated with comments from beneficiaries who violated its security measures regarding who can access the wallets, with many complaining that resolving a security breach can sometimes take months to resolve.
Can I use NSFAS cash voucher without a wallet?
Unfortunately, both the NSFAS cash voucher and NSFAS wallet are intrinsically linked, and without a wallet, you’ll be unable to create or use a voucher.
NSFAS wallet is both the means by which students can access their monthly allowances and manage transactions, as well as a security measure against fraud.
NSFAS achieves these objectives because the wallet is online and requires a student’s phone number and password before access to it is granted, and you can only make or use NSFAS cash voucher, only once you’ve accessed the wallet online.
How do I cash out NSFAS voucher?
Turning NSFAS vouchers into actual money is a relatively easy process; you simply need to have your phone on hand and follow the instructions that are about to follow.
Simply spin up the cash vouchers you created on your NSFAS wallet by dialing *134*176#
Enter your password and click send. Select option 3. Vouchers and click the send option once again.
This will give you your voucher number, which can be exchanged for cash or physical products at any Usave, Shoprite, Checkers, SPAR, Choppies, or Boxer when read out to that store’s cashier.
