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How To Convert NSFAS Voucher To Cash Complete Guide

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How To Convert NSFAS Voucher To Cash Complete Guide Get the detail to the Procedure on How To Convert NSFAS Voucher To Cash this article Contain Compete Guide.

What is an NSFAS voucher?

NSFAS voucher is a digital code generated through your NSFAS Wallet that represents a specific amount of money.

You can use this voucher to withdraw cash at partnered merchants or pay for approved purchases directly from your wallet.

Steps to Convert NSFAS Voucher To Cash

  1. Generate a Cash Voucher: You can generate a cash voucher through your NSFAS Wallet using either a USSD code or the NSFAS mobile app. Here’s a breakdown of both methods:
    • USSD Method: Dial 134176# on your cellphone and follow the prompts. Enter your NSFAS Wallet password and select option 1 for “Cash Voucher.” Then, enter the desired withdrawal amount and confirm the transaction. You’ll receive a unique voucher code via SMS.
    • Mobile App Method: Download and log in to the NSFAS mobile app. Go to the “Wallet” section and select “Generate Cash Voucher.” Enter the withdrawal amount and confirm the transaction. The app will display your unique voucher code.
  2. Withdraw Cash at a Partnered Merchant: With your generated voucher code in hand, visit any participating Shoprite, Usave, Checkers, SPAR, Choppies, or Boxer store. Locate the Money Market counter and present your voucher code to the cashier. You’ll receive the cash equivalent of your voucher amount, minus any applicable withdrawal fees.

Remember that participating merchants may have daily withdrawal limits ranging from R200 to R1,000.

How does NSFAS voucher work?

Your NSFAS Wallet acts as a virtual account linked to your NSFAS funding. Any allocated funds for approved expenses may be deposited into your wallet.

You can then manage these funds through the mobile wallet app or USSD code.

These are some of the functionalities:

  1. Generate Cash Vouchers: You can convert your wallet balance into cash vouchers for withdrawal at partnered merchants.
  2. Direct Payments: Pay for approved purchases directly from your wallet at merchants with NSFAS Wallet integrations.
  3. Track Transactions: View your transaction history and monitor your wallet balance.

Does NSFAS voucher expire?

No, NSFAS vouchers do not expire. If you do not withdraw the total amount of your voucher, your change will just be added to your cash balance.

FAQs

How do I convert my NSFAS voucher to cash?
Before getting to the till, dial *120*7687# on your cellphone, enter your password and select ‘Withdraw’ to create a voucher.Ask the teller at any till to withdraw cash from your Celbux Wallet or NSFAS Wallet. The cashier will process the transaction and, if successful, provide you with the cash and a till slip.
How to withdraw money from NSFAS?
WITHDRAWING CASH You can withdraw cash at Shoprite, Checkers, Boxer, USAVE or selected Spar stores. Advise the cashier that you would like to with draw cash (maximum allowed is R1000 per pay at Shoprite, Checkers. Dial *134*176# (for free!) and it will ask you for your ID number. Enter ID number and wait 5 minutes.
How to transfer NSFAS money to your bank account?
Unfortunately, students are not able to transfer funds from their NSFAS Wallet into another bank account. However, the NSFAS Wallet is like a bank account. Students may, however, create a cash voucher using their NSFAS Wallet.
Does NSFAS pay cash?
NSFAS allowances will be paid in cash to the student via the Fundi system. Once the allowances are debited to your student class fee account, you will receive an SMS message from Fundi to upload your banking details.
How do I reverse a NSFAS cash voucher?
On the NSFAS web channel, you can click on the voucher and a “reverse” option will appear. If you click on this, the funds in the voucher are reversed to your cash balance.
How long does NSFAS cash voucher last?
NSFAS Wallet vouchers do not expire. If you do not withdraw the total amount of your voucher, your change will be added to your cash balance.
How much does NSFAS charge for withdrawal?
The four entities charge NSFAS beneficiaries a standard monthly fee of R12 for administration costs, which excludes other transaction costs such as ATM withdrawals, card swipes and fees for replacing lost cards. An ATM withdrawal will cost R10 plus R2. 50 for every R100 withdrawn.
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