How to open a NSFAS Mastercard Bank Account

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The NSFAS Bank Account is a bank account specifically designed for NSFAS beneficiaries to receive their NSFAS allowancess. It is a zero-fee account that is offered by eZaga and is available to all NSFAS-funded students. NSFAS has partnered with Tenet Technology, eZaga, coinvest and norraco to provide students with a Mastercard to receive their monthly allowances, which operates similarly to official banking cards.

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NSFAS Bank Account
NSFAS Bank Account

Register on the  App or Online

eZaga is a digital banking service which is one of the third-party financial service providers in partnership with NSFAS to assist with the introduction of the NSFAS MasterCard. Students can register their NSFAS Bank Account online by applying the following steps.

NSFAS Mastercard Bank Account Opening Procedure

  1. Visit eZaga’s website by clicking here to download the App
  2. Enter your ID number and temporary password “12345”
  3. Enter a One Time Pin (OTP) received via your email address.
  4. Capture your information
  5. Take a clear photo of yourself holding your ID and take a clear photo of your ID only.
  6. Wait for an approval SMS
  7. Once your account has been approved a bankcard will be distributed to your campus

By registering for and opening their NSFAS Bank Account, beneficiaries will be able to receive their allowances directly from NSFAS, without having to wait for the funds to be paid through the institutions they are studying at.

This means that beneficiaries can access their funds quicker, which is especially important for those who depend on these allowances to cover their daily expenses.

In addition to the convenience of faster access to their allowances, opening a NSFAS Bank Account also allows beneficiaries to benefit from other features that come with the account.

    • Pay all your bills via the app, electricity, airtime.
    • Access your account via *120*1109 or on the eZaga App
    • Withdraw cash using your NSFAS Mastercard at any ATM or retail store.