Delve into the world of Coinvest NSFAS, a secure and user-friendly platform that simplifies the process of accessing your NSFAS funds. To address past issues of delayed allowance payouts, NSFAS has introduced a Mastercard system, in partnership with COINVEST, that will provide students with direct access to their allowances. This Mastercard functions similarly to a standard bank card, eliminating the problematic intermediary, and can be used for transactions at various locations.
If you are a beneficiary of NSFAS, it is essential to register for this service to ensure the timely receipt of your funds without relying on your institution.
About Coinvest NSFAS
Coinvest is a secure and user-friendly platform designed to make accessing your NSFAS funds hassle-free. It acts as a bridge between you and your funds, simplifying the withdrawal process. It allows users to perform day-to-day financial transactions using a physical money card, desktop, or mobile application.
Steps to Sign Up For Coinvest NSFAS Bank Account:
- Navigate to https://nsfas.coinvest.africa.
- Click on the green ‘Sign Up’ button.
- Enter your ID number for identity verification.
- Follow the on-screen instructions to complete the sign-up process.
Once registered, NSFAS funds can be directly deposited into this digital bank account. Simply log into the app and withdraw your money or transfer it into another account.
How to withdraw funds from Coinvest
There are a few ways to withdraw funds from your Coinvest NSFAS account:
- At an ATM: You can withdraw cash at any ATM that displays the Mastercard logo.
- At a POS terminal: You can use your Coinvest money card to make purchases at any POS terminal that accepts Mastercard.
- Through the Coinvest app: You can transfer funds to your bank account or another Coinvest account using the Coinvest app
Here are some additional tips for withdrawing funds from your Coinvest NSFAS account:
- Make sure you have enough funds in your account to cover the withdrawal fee.
- The minimum withdrawal amount is R10.
- The maximum withdrawal amount per day is R5,000.
- You can only withdraw funds from ATMs in South Africa.
Benefits of using Coinvest NSFAS
- Convenience: Coinvest NSFAS eliminates the need for long queues and paperwork. You can access your funds from the comfort of your home or anywhere with an internet connection.
- Speed: Say goodbye to waiting weeks for your funds to arrive. With Coinvest, withdrawals are processed quickly, ensuring you get your money when you need it.
- Security: Your financial information and funds are kept secure with Coinvest NSFAS’s advanced security measures. You can have peace of mind knowing your money is safe.
- User-Friendly: Coinvest NSFAS is designed with simplicity in mind. Even if you’re not tech-savvy, you’ll find it easy to navigate and use.
- 24/7 Access: Whether it’s day or night, you can access your NSFAS funds whenever it suits you. No more waiting for business hours.
How much does Coinvest charge for NSFAS?
Coinvest imposes a payment fee of R12 when the NSFAS allowance is deposited into their account. If you opt for an immediate payment from your Coinvest account to your account, a fee of R35 applies, while an ordinary payment incurs a charge of R5. This fee structure is effective as of July 13, 2023.
Say goodbye to long queues, waiting weeks for your funds, and the stress of paperwork. With Coinvest, you gain quick and convenient access to your NSFAS allowances, ensuring your financial journey is smooth and hassle-free. Coinvest is your go-to solution for withdrawing your NSFAS funds with ease. Setting up an account is a breeze, and the benefits it offers are unparalleled. Enjoy the convenience, speed, and security of Coinvest NSFAS as you access the financial aid you need for your education journey.