The University of South Africa (Unisa) began using a new payment method to pay student allowances and refunds. This Electronic Funds Transfer (EFT) function is now being used by the institution to distribute allowances from the National Student Financial Aid Scheme (Nsfas).
Despite the new payment method making the processing of paying allowances quicker, more than 28,000 students have not yet received their Nsfas allowances and refunds.
Unisa says this is because the affected students have not yet updated their banking details. The institution advised students to check their university email accounts to start the process of updating their bank details.
“Please check your myLife email account for the link to update your details or see the link for more information,” said Unisa.
Here Are The Steps Unisa Takes To Pay Allowances
- If a student qualifies for a refund and/or allowance, an email will be sent to the student’s myLifemail account, containing all the relevant information they need along with a secure link to a website where the relevant banking details must be entered and submitted.
- After reading the email carefully, students must click on the link which will allow them to capture their banking details and submit. Unisa warned that students can only use their active bank accounts. Payments to third-party accounts are not permitted and will not be processed. The account particulars will be verified against the student's ID number.
- The verification status of the details students submitted will be displayed. This may not occur immediately. Students are advised to revisit the link until this information is made available.
- If the bank account verification fails or is rejected, students must re-enter their banking details and ensure they are correct.
Unisa said refunds can take up to 15 days to reflect in a student's account. Students may receive their allowance in the first and the last week of each month. This is on condition that the student qualifies for a refund and has updated their bank details.
