How to Activate Nsfas Ewallet

How to Activate Nsfas Ewallet

NSFAS was established according to the National Student Financial Aid Scheme Act (Act 56 of 1999) and incorporated TEFSA (Tertiary Education Fund of South Africa). From 1993 to 2000, TEFSA was the primary non-profit company in terms of Section 21 of the Companies Act and ceased to operate in July 2000. All existing loans on the TEFSA books were transferred to NSFAS.

Financial Aid
The NSFAS Act enables any student to apply for a bursary from NSFAS but allows the board to impose conditions, generally, or in respect of a particular loan or bursary. Such conditions include the use of the means test and the loan conversion of up to 40 per cent of any loan as an incentive for academic success.

How to activate nsfas ewallet

Are you trying to access your allowances but you are getting a message that your account is locked? Here’s why.

You are receiving this message if you have typed in your NSFAS Wallet password incorrectly more than three times. This is just a security measure to prevent fraudsters from accessing your allowances. Please ensure that you memorise and safeguard your NSFAS Wallet password.

If you are a first-time user, the process may seem daunting at first but it is pretty simple. Here are the steps on how to get started with your NSFAS Wallet:

You will receive an SMS welcoming you to NSFAS Wallet
Once you receive an SMS, open it and verify your account by dialling *134*176# and replying with your ID number
You will then receive a password that you will use when transacting. Note that you need to keep this password secure at all times!
Do not keep or save your password on your cell phone and always keep your cell phone’s screen locked with a password or pin.