Coinvest NSFAS: Best Way to Withdraw Your Funds

Do you want a faster way to withdraw your NSFAS funds? This Coinvest NSFAS comprehensive guide will help you not only withdraw your funds but also find the benefits of using Coinvest.

If you’re an NSFAS (National Student Financial Aid Scheme) applicant, you may be wondering how to access your funds conveniently. Look no further! Coinvest is the answer you’ve been waiting for.

In this article, we’ll walk you through what Coinvest is, how to set up a Coinvest account, and the incredible benefits you’ll enjoy by using Coinvest to access your funds.

Before we go further, take a quick look at the table of contents below. You can skim through the content by clicking on any of the topics from the table of contents.

What is Coinvest NSFAS?

Coinvest is a secure and user-friendly platform designed to make accessing your NSFAS funds hassle-free. It acts as a bridge between you and your funds, simplifying the withdrawal process.

It allows users to perform day-to-day financial transactions using a physical money card, desktop, or mobile application.

If you have not yet file your NSFAS online application yet, We have published a full article on how to do that earlier. It is a very comprehensive guide that will help you to easily file your application. 

How to set up a Coinvest account

Setting up a Coinvest NSFAS account is as easy as pie. Follow these steps:

  • Visit the official Coinvest website (www.coinvest.africa). You should land on a page similar to the one in the screenshot below.
How-to-set-up-a-Coinvest-account
  • Click on the “Sign Up” button as indicated in the screenshot above to begin the registration process. You’ll need to provide some basic information such as your name, email address, and contact details later on.
  • On the next page, click on NSFAS Student Account on the next page to start creating your account.
What-is-Coinvest-NSFAS
  • You will land on a different page which is similar to the one in the image below. On this page, you have to click on the “Sign Up” button and start filling out the form with your correct details.
Coinvest-NSFAS-Best-Way-to-Withdraw-Your-Funds
  • After clicking on the “Sign Up” button, you can start the process by entering your email address.
  • After registration, you’ll receive a verification email. Click the link provided to verify your email address.
  • Log in to your newly created account and complete your profile by providing additional information requested by Coinvest. This helps ensure the security of your funds.
  • To access your NSFAS funds through Coinvest, you’ll need to link your NSFAS account. Follow the on-screen instructions to do this securely.

Once your NSFAS account is linked, you can easily withdraw your funds through the Coinvest platform.

Has your NSFAS application been rejected? There is a comprehensive guide we wrote earlier about the NSFAS appeal procedure. Read it to file appeal and hopefully get your account approved. 

How to withdraw funds from Coinvest

There are a few ways to withdraw funds from your Coinvest NSFAS account:

  • At an ATM: You can withdraw cash at any ATM that displays the Mastercard logo.
  • At a POS terminal: You can use your Coinvest money card to make purchases at any POS terminal that accepts Mastercard.
  • Through the Coinvest app: You can transfer funds to your bank account or another Coinvest account using the Coinvest app.

To learn more about Coinvest NSFAS, please visit the Coinvest website or download the Coinvest app.

Here are some additional tips for withdrawing funds from your Coinvest NSFAS account:

  • Make sure you have enough funds in your account to cover the withdrawal fee.
  • The minimum withdrawal amount is R10.
  • The maximum withdrawal amount per day is R5,000.
  • You can only withdraw funds from ATMs in South Africa.
You can still apply for funding from other Bursaries beside the NSFAS application.But before you do that, take a quick look at this article we wrote earlier titled Top 10 Bursary Tips for South Africans.  

Benefits of using Coinvest NSFAS

  1. Convenience
    Coinvest NSFAS eliminates the need for long queues and paperwork. You can access your funds from the comfort of your home or anywhere with an internet connection.
  2. Speed
    Say goodbye to waiting weeks for your funds to arrive. With Coinvest, withdrawals are processed quickly, ensuring you get your money when you need it.
  3. Security
    Your financial information and funds are kept secure with Coinvest NSFAS’s advanced security measures. You can have peace of mind knowing your money is safe.
  4. User-Friendly
    Coinvest NSFAS is designed with simplicity in mind. Even if you’re not tech-savvy, you’ll find it easy to navigate and use.
  5. 24/7 Access
    Whether it’s day or night, you can access your NSFAS funds whenever it suits you. No more waiting for business hours.

These are some of the benefits you get when using the Coinvest platform. There are a lot more benefits you can get when using this platform.

Do you know what your NSFAS Track Funding Progress does? There is a comprehensive guide about NSFAS application status where all those terms have been explained as well as how to check your applicaiton status. 

FAQs

If you have questions concerning this topic that have not been answered on this page, kindly leave them in the comment section and we will reply as soon as possible.

Does NSFAS work with Coinvest?

Coinvest is a reputable fintech company that is used by the National Student Financial Aid Scheme applicants to help them withdraw their funds. However, we can not confirm any legal partnership between the two companies at the moment.

How much does Coinvest charge for NSFAS?

Coinvest imposes a payment fee of R12 when the NSFAS allowance is deposited into their account. If you opt for an immediate payment from your Coinvest account to your personal account, a fee of R35 applies, while an ordinary payment incurs a charge of R5. This fee structure is effective as of July 13, 2023.

Important articles you must read too

Ultimate NSFAS Online Application Guide for Students
Top 10 Bursary Application Tips for South Africans
Ultimate Guide: NSFAS Appeal Procedures
How to Check NSFAS Application Status
NSFAS Contact Details for Quick Support
Best NSFAS Student Portal Login Guide 

The above are all articles related to this topic that you should check out to learn more about the NSFAS.

Conclusion

Coinvest is your go-to solution for withdrawing your NSFAS funds with ease. Setting up an account is a breeze, and the benefits it offers are unparalleled. Enjoy the convenience, speed, and security of Coinvest NSFAS as you access the financial aid you need for your education journey.

Don’t miss out on the opportunity to make your NSFAS withdrawals a breeze. Sign up for Coinvest today and experience a new level of convenience in managing your funds!

Have a question? Ask here!

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