How to Create a NSFAS Coinvest Account? Be Detailed about Steps and guide to Create NSFAS Coinvest Account?This page Will guide step by step.
What is a NSFAS Coinvest Account?
A NSFAS Coinvest account is a free student bank account specifically designed for NSFAS beneficiaries.
Coinvest is a financial technology company that partners with NSFAS to provide students with a secure and convenient way to receive and manage their allocated funds.
How Do I Create a NSFAS Coinvest Account?
Creating a NSFAS Coinvest account is a straightforward process. Here’s a detailed guide:
- Visit the Coinvest Website: Go to the Coinvest Africa website at https://www.coinvest.africa/.
- Pre-Registration (Optional): While not mandatory, pre-registering allows Coinvest to streamline the account creation process. Click on “Pre-Registration” and enter your basic information.
- Sign Up: Click on “Sign Up” and choose the “NSFAS Student Account” option.
- Enter Your ID Number: Coinvest will verify your eligibility with NSFAS using your South African ID number. If your application is still being processed, you may encounter an error message. In such cases, try again after some time.
- Mobile Number Verification: Enter your valid South African mobile number. You will receive a one-time password (OTP) via SMS for verification.
- Create Login Credentials: Choose a username and a strong password for your account. Avoid using easily guessable information like your birthdate or full name.
- ID Verification: Take a clear picture of your South African ID card using your phone’s camera. Make sure all the details are visible.
- Review and Submit: Take your time to review all the entered information before submitting your application.
Once submitted, Coinvest will process your application. You’ll receive a notification upon successful account creation.
Withdrawing Funds From You Coinvest NSFAS Accounts
ATM Withdrawal:
One of the most convenient ways to access your funds is through ATM withdrawals. Simply visit any ATM displaying the Mastercard logo, insert your Coinvest money card, and follow the prompts on the screen. You’ll be able to withdraw cash directly from your Coinvest NSFAS account, providing you with instant access to your funds whenever you need them.
POS Terminal Usage:
Another convenient option for utilizing your Coinvest NSFAS funds is through POS terminal usage. Whether you’re purchasing textbooks, grabbing a meal on campus, or shopping for essentials, you can use your Coinvest money card at any POS terminal that accepts Mastercard. This allows for seamless transactions without the need for cash, adding an extra layer of convenience to your student experience.
Through the Coinvest App:
For those who prefer digital transactions, the Coinvest app offers a user-friendly platform for managing your NSFAS funds. Within the app, you’ll have the option to transfer funds to your linked bank account or another Coinvest account with just a few taps on your smartphone. This feature comes in handy when you need to send money to friends or family, pay bills online, or simply transfer funds for safekeeping.