The University of South Africa (Unisa) has announced changes to the way they will deposit refunds and/or allowances into the bank accounts of students. The university will now make use of Electronic Funds Transfer (EFT) functions to transfer money to students.
In the 2022 academic year, the National Student Financial Aid Scheme (Nsfas) confirmed funding for 691 432 students. Many of these students rely on the university or Technical and Vocational Education and Training (TVET) college they attend to pay their Nsfas allowances.
Unisa has reminded students that Nsfas allowances will be processed twice a month The first payment will be made in the first week of each month and the third week of each month.
Steps To Get Your Unisa’s Refund/Allowances Via EFT
1. If a Unisa student qualifies for a refund and/or allowance, an email will be sent to their myLife email account. This email will contain all the relevant information along with a secure link to a site where the student can enter and submit their banking details.
2. Students are encouraged to click on the link after they read all the information in the email carefully. Then enter their banking details and submit these. Only a student’s own active bank account can be used. Payments to third-party accounts will not be processed. The account particulars will be verified against your ID number
3. The verification status of the details a student submitted will be displayed. This may not occur immediately-revisit the link until such time as the information is made available.
4. If the bank account verification fails or is rejected, students must re-enter their banking details and make sure all the information is correct
Unisa informed students that refunds can take up to 15 working days before it reflects in their bank account.
