How does ewallet work

How does FNB eWallet work?

Being a fast mode of transaction, eWallet works by allowing a user to send and receive money through their electronic gadgets. The first step of the transaction is for the user to load money into their accounts. The money is debited from the user’s account into their eWallet accounts in the form of digital representation. Being in the form of the digital representation means that the money is with the service provider who is responsible for keeping ledgers and records of all the users and their data. Therefore, for any deposits that a user makes, the money is transferred from the user’s bank account to the dedicated bank account that the user has chosen. The records of the ledgers are also automatically updated.

When a user chooses to send money to another eWallet user, there is no actual money transfer from one account to the other. Instead, what happens is that the ledgers are automatically updated to show that a transaction was performed and money was sent from your account to the recipient’s account. The recipient receives an SMS after receiving money into the eWallet. That is how convenient eWallet is. These how to do eWallet operation guides will be beneficial for you if you are a new user.

How to send money via eWallet

There are different ways to send money, including:

  • Using your cellphone
  • Using online banking
  • Using the FNB Banking App
  • Using any FNB ATM

Sending money is one of the most basic operations that you can do with eWallet. The operation does not require any form of two-factor authentication. The service is, however, available for anyone with a South African cellphone number. The procedure on how to send eWallet money via cellphone is as simple as:

  • Dialing *120*321#
  • Selecting the ‘Send Money’ option and clicking okay
  • Selecting the ‘eWallet’ option
  • Selecting the account from which you want to send money from
  • Keying in the cellphone number of the recipient, for this case, the user that you want to send money to
  • Entering the amount of money that you want to send
  • Selecting the Yes option to complete the transaction. That option will also authorize the service to send the recipient a PIN that they will require when withdrawing the funds.

The sender will also be required to confirm the details of the recipient and the amount of money that they wish to send. Senders are advised to be cautious when confirming the details of the recipient since they will be liable for any transactions that are wrongly conducted. Now you know how to send eWallet funds.

FNB eWallet withdrawal

After you have received funds and wish to withdraw them from your eWallet account, the procedure for doing so is not as complex as it may sound. These are the simple steps to follow on how to withdraw eWallet:

  • Start by dialing *120*277# for you to access your eWallet.
  • In the list of options that will be displayed, select option 1 to get the PIN. You will receive a unique message sending you the five-digit PIN that will be required when withdrawing the money from the ATM. The PIN will expire after sixteen hours.
  • Visit the nearest FNB ATM within sixteen hours after receiving the five-digit PIN.
  • At the ATM, if you do not have an ATM card, you could opt for the cardless services transaction option.
  • Select the “eWallet Services” on the screen.
  • Enter your valid South African phone number on the keypad and select the “proceed” option.
  • The next dialogue box will require you to enter the five-digit PIN that was sent to you at the beginning of the transaction.
  • Enter the withdrawal amount that you wish to withdraw from your account. The amount should be less than or equal to the amount of funds that you have in your account. The ATM will dispense the amount of money that you have keyed in.
  • Verify that you have completed the transaction before leaving the ATM. In case you do not approve the transaction, you can select the ” Cancel” option to stop the transaction.

Apart from the ATM, a user can withdraw cash from the ATM or withdraw funds from any of the selected retail stores. The procedure is as follows:

  • Start by dialing *120*277# for you to access eWallet.
  • Select option 1 to select the withdraw cash option.
  • From the list of options that will be displayed, select option 1, which is the “Get Retail PIN” option.
  • You can then visit any of these listed retail stores in the country to withdraw the cash;

Umlazi Megacity SPAR

Umlazi TOPS

Randgate SPAR

Randgate TOPS

Thohoyandou SPAR

Thohoyandou TOPS

Limpopo SPAR

Limpopo TOPS

Lighthouse SPAR

Lighthouse TOPS

Northcrest SUPERSPAR

Ngqeleni SUPERSPAR

Myezo SPAR

Savoy SPAR

Sutherland Ridge SUPERSPAR

Bray’s SPAR

  • At any of the selected retail stores, you will be required to purchase a credit or debit card. This step is mandatory.
  • After purchasing, you will be required to select the “withdraw cash” at checkout option.
  • The following screen will ask you to “withdraw cash from eWallet.”
  • You will then be prompted to enter your phone number.
  • The following dialogue box will require you to enter the four-digit PIN that was sent to you as a text message.

The cashier will then give you the money that you have withdrawn. There is no fee for withdrawing funds from eWallet. You need to, however, check the balance in your account by following the procedure on how to check eWallet balance.

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Complete Guide to NSFAS Online Loan Application for South African Students (2025)

If you are a South African student looking to pursue higher education but are facing financial difficulties, the National Student Financial Aid Scheme (NSFAS) is one of the most accessible funding options available. NSFAS provides financial aid in the form of bursaries and loans to qualifying students at public universities and TVET colleges in South Africa.

This guide will walk you through everything you need to know about the NSFAS loan application process, from eligibility requirements to application steps and frequently asked questions.

📌 What is NSFAS?

The National Student Financial Aid Scheme (NSFAS) is a government-funded financial aid scheme aimed at helping students from low- and middle-income households to access tertiary education without the burden of upfront fees.

NSFAS offers both bursaries and income-contingent loans:

  • Bursaries: For eligible students who meet academic and household income criteria (especially for TVET and university students).
  • Loans: For students who do not meet all bursary criteria or who are pursuing postgraduate qualifications not funded under bursary schemes.

✅ Who Qualifies for an NSFAS Loan?

To qualify for an NSFAS loan (especially for postgraduate students or programs not funded under the bursary system), you must:

  • Be a South African citizen.
  • Be financially needy, with a household income of less than R350,000 per year.
  • Have a valid South African ID.
  • Be enrolled or accepted to study at a public university or TVET college.
  • Not be funded through another bursary program that covers all expenses.
  • Maintain satisfactory academic progress (returning students).

📚 Courses Funded by NSFAS

NSFAS primarily funds undergraduate qualifications, but certain postgraduate programs (e.g., PGCE, postgraduate diplomas in education, and professional courses like LLB) may be considered under the NSFAS loan scheme, not bursaries.

If you’re studying:

  • Undergraduate degree or diploma: You are likely eligible for a full NSFAS bursary.
  • Postgraduate study: You may qualify for a loan, depending on the course and funding availability.

📄 Required Documents for NSFAS Application

When applying, make sure you have the following documents scanned and ready:

  1. Certified copy of your South African ID or Smart Card.
  2. Parent(s) or guardian(s) ID documents.
  3. Proof of income (latest payslips, UIF, or affidavit if unemployed).
  4. Consent Form signed by your parent(s)/guardian(s) to allow NSFAS to verify income.
  5. Proof of registration or acceptance at a public institution.
  6. Academic transcripts (for continuing or postgraduate students).

🖥️ How to Apply for an NSFAS Loan Online

Step-by-Step NSFAS Online Application Process (2025)

  1. Visit the NSFAS Website

    Go to: https://www.nsfas.org.za

  2. Create an Account

    • Click on “MyNSFAS” and register your profile.
    • You’ll need a valid email address and South African cellphone number.
    • Choose a strong password and verify your account via email or SMS.

  3. Login and Start the Application

    • After registration, log in to your MyNSFAS account.
    • Click on “Apply” to begin a new application.

  4. Fill in Your Personal Details

    • Input your ID number, name, surname, and other details exactly as they appear on your ID.
    • Provide household income information and living arrangements.

  5. Upload Required Documents

    • Upload all supporting documents in PDF or JPEG format.
    • Each document must be clear and under the size limit specified.

  6. Submit Your Application

    • Review your application for accuracy.
    • Click “Submit” and wait for a confirmation message.

  7. Track Your Application

    • Log in regularly to check your application status.
    • You will be notified via SMS and email at each stage of the process.

🗓️ Important NSFAS Dates (2025)

  • Application Opening Date: September 1, 2025
  • Application Deadline: January 31, 2026
  • Appeals Period: February 2026 (if rejected)
  • Disbursement: After registration and approval

Note: Dates are subject to change; always confirm on the official NSFAS website.

💸 What Does the NSFAS Loan Cover?

NSFAS funding typically includes:

  • Tuition fees
  • Registration fees
  • Accommodation (if living away from home)
  • Meals and transport
  • Learning materials (e.g., textbooks)

For loans, repayment is only required once you start working and earn above a threshold (around R30,000 annually, but subject to change).

🔄 NSFAS Loan Repayment

Repayments are:

  • Income-contingent – you only repay when you can afford to.
  • Administered by DHET (Department of Higher Education and Training).
  • Interest-bearing, but interest rates are low and favorable.

You can also apply for a partial loan conversion to a bursary if you perform well academically.

🔁 How to Appeal a Rejected NSFAS Application

If your application is rejected, you may submit an appeal via your MyNSFAS portal:

  1. Log into your MyNSFAS account.
  2. Click on “Track Funding Progress”.
  3. If rejected, click on “Submit Appeal”.
  4. Upload any missing or corrected documents.
  5. Provide a clear explanation or motivation.

📱 NSFAS Contact Information

📝 Final Tips Before Applying

  • Apply early to avoid system overload near the deadline.
  • Use your own email and cellphone number (do not use someone else’s).
  • Double-check that all your documents are certified and legible.
  • Keep a copy of your submission confirmation for reference.

By following this guide, you can confidently apply for NSFAS funding and move one step closer to achieving your academic and career dreams—without the burden of immediate financial pressure.

 

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