Coinvest NSFAS — What Happened & How Students Get Paid Now

Coinvest is no longer an active NSFAS payment partner. NSFAS terminated its contract with Coinvest Africa in 2024, and all student allowances are now paid directly into your personal bank account through NSFAS’s own payment system.

What Was Coinvest?

Coinvest Africa (Pty) Ltd was one of four direct payment service providers contracted by NSFAS to disburse student allowances. Along with Ezaga Holdings, Norraco Corporation, and Tenet Technologies, Coinvest handled the distribution of allowances to NSFAS-funded students at universities and TVET colleges. Students received a payment card and accessed a portal at nsfas.coinvest.africa to manage their funds.

Why NSFAS Terminated Coinvest

In February 2024, the NSFAS Board decided to terminate the services of all four direct payment service providers — Coinvest Africa, Ezaga Holdings, Norraco Corporation, and Tenet Technologies — following recommendations from the Werksman Attorneys Report, which investigated their appointments.

By April 2024, NSFAS announced a new direct payment mechanism to address ongoing allowance payment challenges. NSFAS now distributes allowances directly to students’ bank accounts through its internal banker, cutting out the middleman entirely.

The Coinvest website (coinvest.africa) is currently under maintenance, and the NSFAS Coinvest portal (nsfas.coinvest.africa) is no longer accessible.

How NSFAS Students Now Receive Allowances

Since May 2024, all NSFAS-funded students receive allowances directly into a personal bank account of their choice. NSFAS explicitly warns: “Do not use the previous NSFAS Direct Payment Black Card” — it is no longer a valid payment method.

The transition timeline:

Date Change
16 February 2024 NSFAS Board approves termination of Coinvest, Ezaga, Norraco, and Tenet
26 April 2024 NSFAS announces new direct bank payment system
25 May 2024 TVET college students begin receiving allowances directly into personal bank accounts
End of July 2024 University students stop receiving allowances through institutions; direct bank payment arrangements apply going forward

Sources: Gov.za — NSFAS updates on 2024 academic year, Gov.za — NSFAS urgent interventions, NSFAS bank page

How to Submit Your Banking Details on myNSFAS

To receive your NSFAS allowances, you must submit your banking details through the myNSFAS portal. Here’s how:

  1. Go to www.nsfas.org.za and click on the myNSFAS portal link
  2. Log in with your myNSFAS username and password
  3. Navigate to Profile Information and select Bank Account Details
  4. Enter your banking details from any South African bank of your choice
  5. Click Save

NSFAS verifies your banking details with your bank within seconds of submission.

Requirements:

  • The bank account must be in your own name — do not use someone else’s account
  • The account must be active (do not submit details for a dormant account)
  • Submit only one bank account
  • You can use any South African bank — there are no extra costs beyond your bank’s normal fees

Source: NSFAS — For TVET NSFAS Beneficiaries

NSFAS Allowance Types

NSFAS funding covers the following for qualifying students at universities and TVET colleges:

  • Tuition and registration fees — paid directly to the institution
  • Accommodation allowance — for students in accredited private accommodation or university/college residences
  • Book allowance (learning materials) — for textbooks and study materials
  • Personal care allowance — for living expenses
  • Transport allowance — for students who commute

The combined household income threshold for NSFAS eligibility is R350,000 per year.

Source: NSFAS — TVET College Funding

2026 NSFAS Payment Schedule

According to the NSFAS media briefing on 2026 preparations:

Date Payment
1 February 2026 Upfront payment: full book allowance + one month of meal, accommodation, personal care, and travel allowances
7 February 2026 TVET college allowance disbursement
2 March 2026 March disbursement including accommodation

After the initial disbursements, allowances are paid monthly. Payment dates may vary slightly — check the myNSFAS portal for updates specific to your institution.

Payments will only process if:
– Your NSFAS funding is approved
– Your registration data has been received by NSFAS from your institution
– Your banking details are submitted and verified on the myNSFAS portal

Source: Gov.za — NSFAS media briefing, 6 January 2026

What to Do if You Still Have a Coinvest Card

If you still have a Coinvest NSFAS card from before the transition:

  • Do not attempt to use it. The Coinvest system is no longer active and the card will not work.
  • Do not try to access nsfas.coinvest.africa. The portal’s SSL certificate has expired and the site is inaccessible.
  • Submit your banking details on myNSFAS immediately (see steps above) to ensure your allowances are paid into your personal bank account.
  • If you believe you have unclaimed funds from a previous Coinvest account, contact NSFAS directly (see contact details below).

Common Issues & Troubleshooting

Problem What to Do
Allowance not received / payment delayed Check that your banking details are submitted and verified on myNSFAS. Confirm your institution has sent your registration data to NSFAS.
Incorrect amount received Contact NSFAS on 08000 67327 or email info@nsfas.org.za. Have your student number and ID ready.
Cannot log in to myNSFAS Use the password reset function on my.nsfas.org.za. If that fails, contact NSFAS on 08000 67327.
Banking details not verifying Ensure the account is active, in your own name, and that you entered the correct account number and branch code. Try again or contact your bank to confirm the account is in good standing.
Still trying to use Coinvest Coinvest is no longer active. Submit your banking details on the myNSFAS portal to receive allowances directly.
Suspect fraud on your account Email speakup@nsfas.org.za immediately. Never share your myNSFAS password with anyone — NSFAS staff will never ask for it.

Contact details source: NSFAS official website — Toll-free: 08000 67327, Email: info@nsfas.org.za, Fraud: speakup@nsfas.org.za

FAQ

Is Coinvest still used by NSFAS?
No. NSFAS terminated its contract with Coinvest Africa in 2024, along with three other direct payment service providers (Ezaga Holdings, Norraco Corporation, and Tenet Technologies). All student allowances are now paid directly into students’ personal bank accounts.

How do I receive my NSFAS allowance without Coinvest?
Log in to the myNSFAS portal, go to Profile Information, and submit your banking details for any South African bank account in your name. NSFAS pays allowances directly into that account.

Can I still log in to the Coinvest NSFAS portal?
No. The Coinvest NSFAS portal (nsfas.coinvest.africa) is no longer accessible. All allowance management is now handled through the myNSFAS portal.

When does NSFAS pay allowances in 2026?
The first upfront payment was scheduled for 1 February 2026, covering the full book allowance plus one month of meal, accommodation, personal care, and travel allowances. After that, allowances are paid monthly.

What do I do if my NSFAS payment is late?
First check that your banking details are submitted and verified on myNSFAS, and that your institution has sent your registration data to NSFAS. If everything is in order, contact NSFAS on 08000 67327 or email info@nsfas.org.za.

Can I use any bank account to receive NSFAS allowances?
Yes. You can use a bank account from any South African bank. The account must be in your own name and must be active.