How To Transfer Money From NSFAS Wallet To Your Bank Account
If you’re a recipient of NSFAS funding, you may be wondering how to transfer money from your NSFAS Wallet to your bank account. Fortunately, the process is straightforward and can be done using your mobile phone. In this guide, we’ll walk you through the steps to transfer funds from your NSFAS Wallet to your bank account hassle-free.
Understanding Your NSFAS Wallet
Before we delve into the transfer process, let’s briefly understand what an NSFAS Wallet is. Your NSFAS Wallet is a digital account where your NSFAS funds are deposited. It allows you to withdraw cash and make payments at any merchant registered by NSFAS.
How To Transfer Money From NSFAS Wallet To Your Bank Account
Also Read: Coinvest NSFAS: How To Register To Withdraw Your Funds
Steps to Transfer Money From Your NSFAS Wallet to Your Bank Account
Download the NSFAS Wallet App: Start by downloading the NSFAS Wallet mobile app from the App Store or Google Play Store on your smartphone.
Register and Verify Your Account: Once the app is installed, register for an account using your ID number and other required details. Verify your account by following the prompts sent to your registered mobile number.
Link Your Bank Account: After successful verification, link your bank account to your NSFAS Wallet. This step is crucial as it enables the transfer of funds between your NSFAS Wallet and bank account.
Initiate the Transfer: Open the NSFAS Wallet app and navigate to the transfer or payments section. Select the option to transfer funds to your bank account.
Enter Transfer Details: Enter the amount you wish to transfer and select your linked bank account as the recipient. Double-check the details to ensure accuracy.
Confirm and Authenticate: Confirm the transfer request and authenticate it using the security measures provided by the app, such as a PIN or biometric authentication.
Monitor the Transfer: Once the transfer is initiated, monitor its progress within the NSFAS Wallet app. You may receive notifications regarding the status of your transfer.
Check Your Bank Account: After the transfer is complete, check your bank account to ensure that the funds have been successfully deposited.
Remember to keep your NSFAS Wallet app updated and secure to protect your funds and personal information.
FAQs
How can you Check your NSFAS Wallet Balance?
You can check your balance in your NSFAS wallet. You can check by using your cell phone or over the internet.
Dial USSD code*134*176#
Enter your password
Click Send
Select option 2. Query
View cash balance and transactions
Via internet:
Enter the following link in to your browser https://celbux.appspot.com
Log into your account and type in your phone number and password and click the Login button
Click More
Click Transactions
View transactions
How to Transfer Money from my NSFAS Wallet to a Local bank account?
You can withdraw your cash at participating stores, create a cash voucher and withdraw the cash at Shoprite, Usave, Checkers, SPAR, Choppies or Boxer.
Note that these stores have daily cash withdrawal limits from R200 to R1000 per day.
On your phone:
Dial the short code *120*176#
Enter your password
Click Send
Select option 1. Cash Voucher and click Send
Enter the amount and click Send
Via internet:
Enter the following link in to your browser https://celbux.appspot.com
Log into your account by typing in your phone number and password Click the Login button
Click Pay
Enter amount
Click Done
How much can I redraw from my NSFAS Wallet?
You can spend as much money as you like at a registered retailer, up to the whole amount in your cash wallet.
There is no spending limit when withdrawing cash or purchasing goods from participating stores. You may spend up to the maximum value of your cash wallet.
The below are the participating stores which redeem cash vouchers:
Boxer
Checkers
USave
Selected Spar stores.
Students may set up their NSFAS Wallet by following these easy steps:
Receive a Welcome SMS.
Verify your account by dialling *120*176#
Key in your ID number.
Receive a password that you will use when transacting.
Visit Celbux.appspot.com to change your password.
There is absolutely no spending limit when withdrawing cash or purchasing goods from participating stores. You can spend up to the maximum value of your cash wallet.
Conclusion
Transferring money from your NSFAS Wallet to your bank account is a simple process that can be completed using your mobile phone. By following these steps, you can access your NSFAS funds conveniently and use them for your financial needs.
