The University of South Africa (Unisa) revealed they will be using a new Electronic Funds Transfer (EFT) function to pay student allowances and refunds.
These allowances and refunds are from the National Student Financial Aid Scheme (Nsfas). Unisa will process Nsfas allowances twice a month. Students may receive their allowance in the first and the last week of each month.
Unisa said refunds can take up to 15 days to reflect in a student's account. This is on condition that the student qualifies for a refund and has updated their banking details.
Here Are The Steps Unisa Will Take When Paying Nsfas Allowances
- If a student qualifies for a refund and/or allowance, an email will be sent to the students’ 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 these. 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 students 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 is South Africa’s largest distance learning university. They offer a wide range of courses which you can apply to be part of for the 2023 academic year.
