The National Student Financial Aid Scheme (NSFAS) provides financial support to students from disadvantaged backgrounds in South Africa. One of the key benefits for NSFAS-funded students is the NSFAS Wallet, a digital payment system that allows students to receive their allowances, withdraw cash, and make purchases at approved retailers, including Boxer stores nationwide.
If you’re an NSFAS-funded student, it’s important to understand how your NSFAS Wallet works and how to withdraw your funds when needed. In this guide, we will explain everything you need to know about using your NSFAS Wallet to access your money safely and conveniently.
What is the NSFAS Wallet?
The NSFAS Wallet is a secure digital platform where students receive their monthly allowances. Instead of depositing funds into a traditional bank account, NSFAS provides a mobile wallet system that allows students to access their funds directly from their mobile phones.
With the NSFAS Wallet, students can:
- Withdraw cash at Boxer stores or selected retailers
- Purchase goods at registered merchants
- Transfer funds to other students with NSFAS Wallets
- Check their balance anytime using their mobile phone
This system is designed to simplify financial transactions for students, ensuring they receive their funds quickly and efficiently.
News: NSFAS Allowance Increase for 2025 Academic Year
How to Withdraw Money Using Your NSFAS Wallet
If you need cash from your wallet, you can easily withdraw it by generating a Cash Voucher. Follow these simple steps:
- Dial the short code *134*176# on your mobile phone.
- Enter your password (the one you set up for your NSFAS Wallet).
- Click Send.
- Select Option 1: ‘Cash Voucher’ and click Send.
- Enter the amount you wish to withdraw and click Send.
- Your newly created voucher will be displayed on your screen.
How to Use Your Cash Voucher at Boxer
Once you have generated your Cash Voucher, you can take it to any Boxer store to withdraw your money.
- Visit your nearest Boxer store and go to the till.
- Provide your voucher code to the cashier.
- Present your student ID if required.
- Collect your cash.
Tip: Always make sure you withdraw only the amount you need to avoid unnecessary expenses.
How to Use Your NSFAS Wallet for Purchases at Boxer
Apart from withdrawing cash, you can also use your wallet to make purchases directly at any Boxer store. Instead of using cash, you can pay for groceries, toiletries, and other essentials.
Here’s how:
- Select the items you want to buy at Boxer.
- At the till, tell the cashier you want to pay using your NSFAS Wallet.
- Dial *134*176# and follow the prompts to approve the transaction.
- The cashier will confirm the payment, and you’re done.
This option helps you avoid handling cash and makes your shopping quick and easy.
What to Do If You Forget Your NSFAS Wallet Password?
If you forget your NSFAS Wallet password, you won’t be able to access your funds. Here’s how you can reset it:
- Dial *134*176# on your phone.
- Select ‘Reset Password’ from the menu.
- Enter your student ID number.
- Follow the instructions to create a new password.
- You will receive a confirmation SMS once your password is successfully changed.
Important: Make sure your new password is something easy for you to remember but hard for others to guess.
Frequently Asked Questions (FAQs)
Q: Can I transfer money from my NSFAS Wallet to someone else?
- Yes. You can send money to another student who also has an NSFAS Wallet by selecting the ‘Send Money’ option on the *134*176# menu.
Q: Is there a daily withdrawal limit?
- NSFAS may set a withdrawal limit, depending on your allowance balance and their withdrawal policies. Always check your available balance before withdrawing.
Q: What happens if my voucher expires before I withdraw my cash?
- If your voucher expires before you use it, you will need to generate a new one by following the cash withdrawal steps again.
Q: How do I check my NSFAS Wallet balance?
- Simply dial *134*176# and select ‘Check Balance’ to see how much money you have left in your NSFAS Wallet.
NSFAS Wallet Contact Information
If you need more information or have any issues with your NSFAS Wallet, you can contact NSFAS directly:
- Call Centre: 08000 67327
- Website: www.nsfas.org.za
Remember: Always be cautious when using your money. Never share your password or voucher codes with anyone to avoid fraud.
The wallet makes it easy for students to manage their allowances, withdraw cash, and make essential purchases at Boxer stores. By following the steps in this guide, you can safely withdraw money, pay for goods, and manage your funds efficiently.
- Always keep your password secure.
- Only withdraw what you need.
- Use your money wisely.
If you ever experience any issues, NSFAS is there to help. Make sure to reach out to their customer support if needed.
