Students Urged to Verify Banking Details to Avoid NSFAS Payment Delays

Thousands of students across South Africa who rely on the National Student Financial Aid Scheme (NSFAS) for financial assistance are being urged to verify and update their banking details to avoid delays in receiving their allowances for 2025. 

This call comes as many students have reported delayed payments due to incorrect or incomplete banking information linked to their NSFAS accounts.

In a recent statement NSFAS has urged students both in public universities and colleges to verify and update their banking details to receive their 2025 allowances for the month of February and March 2025. 

Lack of verifying banking details often leads to delays in payment. NSFAS has emphasized the importance of students understanding the verification process, which is a key step before any payments can be made. 

Understanding the Verification Process

Once a student has entered and saved their banking details on their myNSFAS account or with the NSFAS direct payment service providers, they will immediately see the status “Pending Verification.”

This status means that the system has received the student’s information, and NSFAS will begin cross-checking the banking details with the student’s bank. Verification involves confirming that the submitted account belongs to the NSFAS-approved student and that the account is active and valid for transactions.

What Happens After “Pending Verification”

The “Pending Verification” status can last several days, depending on the responsiveness of the bank and whether the information was submitted correctly. Students are advised to be patient during this phase but to ensure that all submitted documents are correct to prevent unnecessary delays.

Once the verification process is complete, one of two outcomes will be displayed on the student’s NSFAS profile:

• Successfully Verified

If the account verification is successful, the status will change to “Successfully Verified.” At this point, the student’s bank account is officially approved for NSFAS disbursements, and allowances for 2025 will be paid according to the scheduled payment dates.

• Unsuccessfully Verified

If the verification fails, the status will change to “Unsuccessfully Verified.” Students will then be required to re-enter or recapture their banking details. NSFAS advises that students carefully review their bank account numbers, branch codes, and other personal information before resubmitting.

Why Verification May Fail

One of the main reasons for an “Unsuccessfully Verified” status is when a student submits bank account details that do not belong to them. NSFAS strictly prohibits payments to third-party accounts, whether they belong to parents, guardians, or friends. 

The system automatically checks whether the bank account holder’s details match the approved NSFAS student’s personal information, including their ID number.

Any mismatch will result in the verification being declined, and students will have no option but to open a personal bank account in their own name and resubmit the correct details.

In addition to using the wrong account, other reasons for a failed verification may include:

• Submitting details for a closed or dormant account
• Entering incorrect or incomplete account numbers
• Providing details for accounts that do not allow electronic transfers, such as certain investment or savings accounts with restrictions

What Students Should Do If Verification Fails

NSFAS encourages students not to panic if their verification is unsuccessful. They are granted another opportunity to correct the issue and recapture their banking details. However, students are warned not to delay, as their allowances can only be disbursed after the account has been Successfully Verified.

For best results, NSFAS suggests that students:

• Double-check their account name, account number, and branch code
• Ensure the account is active and able to receive payments
• Open a new account in their name if necessary, using one of the NSFAS-approved direct payment service providers if they don’t already have an account
• Avoid submitting details of e-wallets or third-party mobile money accounts, unless they are part of the official NSFAS direct payment partners

Final Thoughts

As NSFAS continues to process payments for the 2025 academic year, students are reminded to take proactive steps to verify their banking details to avoid unnecessary delays. If your banking details are correct and the bank account is registered in your name, no further action is required.

For more updates, students are encouraged to visit the NSFAS website at www.nsfas.org.za and follow official NSFAS social media channels.