VerifiedCoinvest Africa was one of four companies NSFAS appointed to pay student allowances, alongside eZaga, Noracco and Tenet Technology. That system has ended: since 25 May 2024, TVET students receive allowances directly into their own bank accounts.
Check Your Personalized Bursary Options
Step 1: Choose Study Level
Step 2: Choose Field of Study
Step 3: Describe Your Interest
Tell us if you want bursaries, scholarships, admissions, or student loans?
What happened
| When | What |
|---|---|
| Before May 2024 | NSFAS allowances for many students were paid through direct payment service providers, including Coinvest |
| 25 May 2024 | TVET students started receiving allowances directly into their own bank accounts |
| Later court ruling | The Western Cape High Court found the contracts with the four providers unconstitutional, unlawful and invalid, according to an NSFAS and SIU statement |
The same statement said the providers were not found complicit and would be compensated.
What students do now
- Log in to myNSFAS.
- Go to Profile Information, then bank account details.
- Add an active bank account in your own name.
- Do not use old payment provider cards or wallets for NSFAS allowances.
Messages asking you to “activate your Coinvest NSFAS wallet” or share a PIN are scams.
See how NSFAS pays allowances now.
Frequently asked questions
Is Coinvest still paying NSFAS allowances?
No. TVET students have received allowances directly into their own bank accounts since 25 May 2024.
Why did NSFAS stop using Coinvest?
A court found the payment provider contracts unlawful, according to an NSFAS and SIU statement.