How To Update Unisa Payment Banking Details – A lot of students depend on allowances from a government bursary program to make sure they can afford to buy necessities while they are attending college. One university will give these allowances to students in a novel way.
Numerous students use their monthly living allowances from the National Student Financial Aid Scheme (Nsfas) to buy necessities. The institutions that the students attend frequently give out these allowances to the pupils.
How To Update Unisa Payment Banking Details
In order to pay student allowances and refunds, the University of South Africa (Unisa) has stated that it will make use of new Electronic Funds Transfer (EFT) functionalities.
These compensations and stipends come from Nsfas. These allowances will be processed twice a month, they claimed. Each month, the first and last weeks of the month are when students may receive their allowance.
Following are the steps that Unisa will follow to pay NSFAS allowances.
- If a student is eligible for a refund and/or allowance, an email including all the necessary information and a secure link to a website where the necessary banking information must be input and submitted will be sent to the student’s myLifeemail account.
- Students must carefully read the email before clicking the link that will allow them to enter and submit their banking information. Students should only use their active bank accounts, according to Unisa.
- Payments to accounts belonging to third parties are not accepted and won’t be handled. The account information will be compared to the student ID number for verification.
- 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.
Refunds may not appear in the student’s bank account for up to 15 days, according to Unisa. Students are urged to get in touch with the Directorate of Student Funding at [email protected] if they have any questions.
Nsfas recently disclosed that in the future, they will pay students directly. This will be made possible via a connected account and a Mastercard. This will both ensure that students have more financial autonomy and teach them about financial responsibility.
You may also check: NSFAS Application Requirements 2022-2023