The simple answer to “Does Nsfas work with CoInvest?” is YES, the National Student Financial Aid Scheme (NSFAS) uses Coinvest as one of its service providers to disburse bursaries to eligible students.
The partnership between NSFAS and CoInvest aims to provide financial assistance to students who are unable to afford tuition fees and other related expenses. The partnership will enable students to access funding from both organizations, which will help them to complete their studies without financial constraints.
Coinvest is a fintech company that offers a range of financial services, including mobile money transactions, payments, a bank account for managing funds, virtual cards, and withdrawals. NSFAS beneficiaries can use their Coinvest accounts to receive their bursary payments, check their balance, and track their spending.
The following steps will ensure that your Coinvest NSFAS Bank account has been successfully set up.
- Please visit https://nsfas.coinvest.africa
- Sign up by clicking the green ‘Sign Up’ button
- Enter your ID number to confirm your identity
- Follow the due process
You have completed the sign-up process. NSFAS funds can now be received into this digital bank account. Sign in with your username and password at https://nsfas.coinvest.africa if you’ve previously signed up. You can reset your password here if you have forgotten it.
NSFAS partners with Coinvest to provide a more efficient and convenient way to disburse bursary payments to students. Here’s how it works:
- NSFAS approves students for bursaries. Students apply for NSFAS funding through the MyNSFAS portal. NSFAS assesses applications and approves eligible students for bursaries.
- NSFAS sends student information to Coinvest. NSFAS sends the approved students’ information to Coinvest. This information includes the student’s name, ID number, contact details, and banking information.
- Coinvest creates student accounts. Coinvest creates accounts for the approved students. These accounts are linked to the student’s NSFAS funding.
- NSFAS disburses bursary payments to Coinvest. NSFAS disburses the bursary payments to Coinvest. Coinvest then distributes the payments to the students’ accounts.
- Students receive their bursary payments. Students can access their bursary payments through their Coinvest accounts. They can withdraw their money from ATMs, make payments, or transfer funds to other accounts.
How To Check Balance
A detailed guide is available on how to use coinvest NSFAS to check your balance; with a physical debit card, or with coinvest WhatsApp pay.
Contact Coinvest
Please use the following contact details if you need assistance opening or using this digital bank account.
Sales
- sales@coinvest.africa
- +27 11 507 5555
Support
- support@coinvest.africa
- +27 11 507 5555
- 080 001 4551
NSFAS’s partnership with Coinvest is a positive step towards improving the efficiency and convenience of disbursing bursary payments to students. Coinvest’s platform provides a secure and easy-to-use way for students to access their bursary funds.