Step 1: Log in to your NSFAS Wallet
To transfer funds from your NSFAS Wallet to your bank account, you must first log in to your NSFAS Wallet. You can access your wallet through the myNSFAS portal or the myNSFAS mobile app.
Step 2: Select the “Transfer Funds” Option
Once you’re logged in, select the “Transfer Funds” option on the homepage of your NSFAS Wallet.
Step 3: Enter the Transfer Details
Next, you’ll need to enter the transfer details, including the amount you wish to transfer, the recipient bank account number, and the bank’s name. Be sure to double-check these details to avoid any errors.
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Step 4: Verify the Transfer
After entering the transfer details, you’ll need to verify the transfer. This may require entering a one-time password (OTP) sent to your registered phone number.
Step 5: Confirm the Transfer
Finally, confirm the transfer by clicking the “Confirm” button. The funds should be transferred to your bank account within 24 to 48 hours.
It’s worth noting that there may be fees associated with transferring funds from your NSFAS Wallet to your bank account. You should check with your bank to see if there are any fees or charges that may apply.
Transferring funds from your NSFAS Wallet to your bank account is a straightforward process that can be completed quickly and easily through the myNSFAS portal or mobile app. Just follow the steps outlined above, and you’ll be able to transfer your funds in no time.
Applicants should note that, SASSA has now even started using SASSA debit card where applicants funds are directly deposited. Applicants can just swipe their debit cards at any retail shop or ATM for cash withdrawal.