Which Bank Does NSFAS Use In 2026

Which Bank Does NSFAS Use In 2026

NSFAS 2026: Does It Use Capitec, FNB, or ABSA?

Student waiting to be funded by NSFAS in 2026, one of the biggest questions on your mind might be: “Which bank does NSFAS use in 2026?” The answer is simple: NSFAS now allows students to use their bank accounts from any bank in South Africa. This change is part of a new direct payment system introduced to solve past issues with the old NSFAS black card and improve the efficiency and security of allowance payments.

Previously, NSFAS partnered with specific financial service providers like First National Bank (FNB), Absa, Standard Bank, and Capitec Bank and issued the NSFAS black card. However, starting in 2026, this method is no longer in use. Instead, NSFAS has created an internal banking system that allows all funded students, whether enrolled at a university or a TVET college, to receive their allowances directly into their personal bank accounts.

This means you can now choose your preferred bank like Capitec, FNB, Standard Bank, ABSA, Nedbank, or others, and get your funds deposited directly there. This change gives students more control, flexibility, and convenience when managing their money. You just need to ensure that your banking details are correctly submitted through the myNSFAS portal. Once submitted, NSFAS verifies your account information within seconds to ensure everything is in order.

While NSFAS does not exclusively use one bank in 2026, it supports all major South African banks, putting the choice in your hands. If you have not yet submitted your bank details, now is the time to do so to avoid delays in receiving your allowances.

SEE ALSO: NSFAS Requirement 2025-2026

Which Bank Does NSFAS Use In 2026

• NSFAS now allows all funded students, both university and TVET college, to receive their allowances directly into a bank account of their choice.
• You no longer need to use the previous NSFAS black card, as that system has been replaced with a more efficient direct payment method through NSFAS’s internal banking system.

When Will NSFAS Disburse Allowance To the Bank Account

• NSFAS requires all TVET college students to submit their personal banking details by May 2026 to continue receiving allowances without interruption

Which Bank Did NSFAS Previously Use?

NSFAS partnered with First National Bank (FNB), Absa, Standard Bank, and Capitec Bank as its collaborators:

• FNB (First National Bank):

FNB is one of NSFAS’s primary banking partners. Students may now access their monies through FNB accounts, allowing for simple transactions and financial monitoring.

• Absa:

Absa, formerly known as Barclays Africa Group, is a member of the NSFAS banking network. Absa is a bank that students may use to manage their NSFAS funds.

• Standard Bank

Standard Bank is also one of the banks involved in NSFAS. Students who are eligible for financial help may be able to link their NSFAS accounts to Standard Bank for streamlined financial transactions.

How to Submit Your Banking Details to NSFAS In 2026

To receive your NSFAS Allowance, send your bank details to the scheme secretariat through these steps.

Step 1:

• Go to www.nsfas.org.za and click on the “myNSFAS portal”.

Step 2:

• Log in using your myNSFAS username and password.

Step 3:

• Go to the “Bank Account Details” section under your profile.

Step 4:

• Enter your banking information (from any South African bank of your choice).

Step 5:

• Click “Save”.

Step 6:

• NSFAS will instantly verify your bank details with your bank for a successful update.

How Online Payment Works:

• NSFAS deposits funds (allowances like living, transport, and study materials) into the NSFAS-linked account with one of these providers.
• You can instantly link this NSFAS account to your personal bank account (Capitec, FNB, ABSA, Nedbank, Standard Bank, etc.) and transfer the funds instantly

NSFAS Bank Details/ What Students Must Avoid 2026

Students Should Be Careful And Avoid The Following:

• Do Not Provide More Than One Bank Account detail.
• Do Not Provide Details Of An Inactive Bank Account.
• The Bank Account Should Belong To YOU. Do Not Share Your Details With Anyone.

READ MORE: When Is NSFAS Application 2025-2026

NSFAS Contact Information

• Website: www.nsfas.org.za
• Email: info@nsfas.org.za
• South African students: 0860 067 327
• International students: +27 21 763 3232
• Physical Address: 10 Brodie Road, Wynberg, Cape Town, South Africa, 7700
• Postal Address: Private Bag X1, Plumstead, Cape Town, Western Cape, South Africa, 7801

NSFAS no longer uses a single, dedicated bank or the old black card system. Instead, it has introduced a modern direct payment method through approved fintech providers, eZaga, Tenet Technology, Norraco, and Coinvest. These partners manage the initial deposit of student allowances, which can then be transferred into your personal bank account at any South African bank, such as Capitec, ABSA, FNB, Nedbank, or Standard Bank. For more information, visit the official website. Hope the provided information is helpful, kindly leave a comment below.