Coinvest NSFAS: Registration, Login, Balance Checks & Withdrawals

Coinvest Africa operated as a fintech payment provider for NSFAS student allowances from 2022 through May 2024, when NSFAS terminated the contract following investigations into irregular appointments and payment system failures.

As of the 2026 academic year, NSFAS no longer uses Coinvest or any third-party direct payment providers; all student allowances are now disbursed directly to personal bank accounts registered on the myNSFAS portal.

Students who received NSFAS funds through Coinvest between 2022 and 2024 may still have residual balances in their Coinvest accounts. This guide explains how to access, verify, and withdraw any remaining funds, while clarifying the current NSFAS payment system for 2026 beneficiaries.

Quick Facts: Coinvest NSFAS Status in 2026

Attribute	Details
Contract Status	Terminated by NSFAS in May 2024
Current Payment Method	Direct bank transfer to student accounts via myNSFAS portal
Residual Accounts	Students with 2022-2024 balances can still access Coinvest accounts for withdrawal
Official NSFAS Portal	my.nsfas.org.za
Verification Source	NSFAS Media Statements at nsfas.org.za/content/media.html
Withdrawal Deadline	No official deadline announced; withdraw remaining funds immediately

What Is Coinvest NSFAS?

Coinvest Africa (Pty) Ltd is a South African fintech company that partnered with NSFAS from 2022 to May 2024 to facilitate direct allowance payments to students through digital wallets and prepaid cards. The National Student Financial Aid Scheme appointed Coinvest alongside three other service providers—Ezaga Holdings, Tenet Technology, and Norraco—to replace the previous system where universities managed student allowance distribution.

How the Coinvest System Worked (2022-2024)

NSFAS transferred approved allowances directly to Coinvest-managed student accounts. Students received a Coinvest NSFAS Mastercard or accessed funds through the Coinvest mobile application. The payment infrastructure used the Ukheshe Eclipse API, with bin sponsorship from Nedbank and processing through Mastercard networks.

The direct payment model aimed to reduce delays caused by institutional intermediaries. NSFAS sent payment instructions to Coinvest, which credited individual student wallets within 24 to 72 hours. Students could then withdraw funds via bank transfer, ATM, or participating retail locations.

Why NSFAS Terminated Coinvest

NSFAS Administrator Freeman Nomvalo announced the termination of all direct payment provider contracts on Monday, May 27, 2024, following investigations by the Special Investigating Unit (SIU) and corruption allegations raised by the Organisation Undoing Tax Abuse (OUTA). The investigations revealed irregular appointment processes for Coinvest and the three other service providers in 2022 and 2023.

Students reported multiple operational failures during the Coinvest partnership period, including:

• Balance discrepancies where funds appeared and disappeared from accounts
• Transaction fees ranging from R5 to R15 per withdrawal
• Monthly account maintenance charges between R8 and R12
• System outages are preventing access during critical academic periods
• Delays in crediting allowances beyond the promised 72-hour window

The Department of Higher Education and Training (DHET) directed NSFAS to transition to a student-centered banking model where beneficiaries provide their own verified bank account details for direct deposits.

Current NSFAS Payment System for 2026

All NSFAS beneficiaries for the 2026 academic year must register their personal bank account details on the myNSFAS portal to receive allowances. NSFAS no longer routes payments through third-party providers like Coinvest, Ezaga, Tenet, or Norraco.

How to Register Your Bank Details for 2026 Allowances

1. Visit the official myNSFAS portal at my.nsfas.org.za
2. Log in using your South African ID number and password
3. Navigate to the “Bank Details” or “Payment Information” section
4. Enter your full bank account number, branch code, and account type
5. Upload supporting bank verification documents (3-month bank statement or bank confirmation letter)
6. Submit the information and wait for NSFAS verification (typically 5 to 10 business days)
7. Check your email and myNSFAS inbox for confirmation of approved banking details

NSFAS credits verified accounts within 3 to 5 business days after approving each allowance cycle. You can use any South African bank account in your name, including accounts from major banks like Standard Bank, FNB, Nedbank, Absa, Capitec, TymeBank, or African Bank.

2026 Allowance Types and Amounts

Allowance Category	Monthly Amount (2026)	Payment Frequency
Accommodation (off-campus)	R3,500 to R4,200	Monthly
Transport	R780 to R890	Monthly
Personal care	R315	Monthly
Book allowance	R5,200	Annual (paid in February)
Laptop allowance (first-time students)	R7,500	Once-off

The Department of Higher Education confirmed these amounts for the 2026 academic year in December 2025. Actual payments depend on institution type, student residence status, and verification of academic progress.

How to Access Remaining Coinvest NSFAS Funds

Students who received allowances through Coinvest between 2022 and 2024 can still log in to their Coinvest accounts to check balances and withdraw any remaining funds. Coinvest has not announced account closure deadlines, but students should transfer residual balances to personal bank accounts immediately to avoid potential service discontinuation.

Coinvest NSFAS Login Process

1. Navigate to the Coinvest portal (verify the exact URL on official NSFAS communications or Coinvest social media pages)
2. Enter your registered South African ID number or email address
3. Input your password or request an OTP (one-time password) sent to your verified mobile number
4. Complete two-factor authentication if prompted
5. Access your wallet dashboard to view available balance, transaction history, and withdrawal options

Common login issues:

• ID number not recognized: Verify you registered under that ID number during 2022-2024 when Coinvest was active; contact Coinvest support with your student reference number
• Forgotten password: Use the “Forgot Password” link, enter your registered email or ID, receive reset instructions via email or SMS, and create a new password
• OTP not received: Check mobile network connectivity, verify the registered phone number matches your current number, request OTP resend, or select voice call option if available
• Account locked: Contact Coinvest customer support with ID number, student reference, and details of the last successful login

How to Check Coinvest NSFAS Balance

Log in to your Coinvest account and navigate to the “Wallet” or “Balance” section to view your current available funds and pending transactions. The balance screen displays three categories:

1. Available balance: Funds cleared and ready for immediate withdrawal
2. Pending balance: Transactions in settlement or verification (typically clears within 24 to 72 hours)
3. Reserved balance: Funds held for incomplete transactions or under dispute investigation

If your NSFAS portal showed a payment disbursement to Coinvest during 2022-2024 but your Coinvest balance does not reflect the amount after 72 hours, document the discrepancy with screenshots from both portals and contact Coinvest support immediately.

Coinvest NSFAS Withdrawal Methods

Transfer available funds from your Coinvest account to a personal bank account using the withdrawal function in the Coinvest app or web portal. Processing times range from 24 hours to 5 business days depending on destination bank and verification requirements.

Bank Transfer Withdrawal Steps

1. Log in to Coinvest and select “Withdraw” or “Send Money”
2. Choose “Bank Transfer” as the withdrawal method
3. Enter destination bank account number, branch code, and account holder name
4. Verify the account name matches the registered account holder
5. Enter the withdrawal amount (check minimum and maximum limits)
6. Review transaction fees (typically R5 to R15 depending on amount)
7. Confirm the transaction with OTP authentication
8. Save the transaction reference number
9. Monitor your bank account; most transfers complete within 24 to 48 hours

ATM Card Withdrawal

Some Coinvest accounts issued physical Mastercard prepaid cards during 2022-2024. If you have a Coinvest NSFAS Mastercard:

1. Locate an ATM that accepts Mastercard (most major banks)
2. Insert the card and enter your 4-digit PIN
3. Select “Withdrawal” and enter the amount
4. ATM withdrawal fees range from R6 to R10 per transaction
5. Daily ATM withdrawal limits typically cap at R2,000 to R5,000

Cash Pickup at Retail Partners

Coinvest partnered with select retail locations for cash withdrawals during its operational period. This option may no longer be available; verify current cash pickup availability through Coinvest customer support before attempting.

Withdrawal Fees and Limits (2024 Rates)

Transaction Type	Fee	Minimum	Maximum
Bank transfer	R5 to R15	R50	R10,000 per transaction
ATM withdrawal	R6 to R10	R100	R2,000 per day
Cash pickup	R10 to R20	R100	R3,000 per transaction
Account maintenance (if still charged)	R8 to R12 monthly	—	—

These fees applied during the active Coinvest-NSFAS partnership. Verify current fee schedules in your Coinvest account under “Fees” or “Pricing.”

Coinvest NSFAS App Download and Safety

Download the Coinvest mobile application only from the official Google Play Store for Android devices or Apple App Store for iOS devices to avoid malware and phishing risks. Third-party APK files from unofficial websites pose significant security threats, including data theft, account compromise, and malware installation.

Official App Installation Steps

1. Open Google Play Store (Android) or App Store (iOS) on your mobile device
2. Search for “Coinvest” or “Coinvest Africa”
3. Verify the publisher name matches “Coinvest Africa (Pty) Ltd”
4. Check app reviews, rating (should be 3.5 stars or higher), and number of downloads
5. Tap “Install” and grant necessary permissions (typically camera for ID verification, SMS for OTP, storage for documents)
6. Open the app after installation completes
7. Register a new account or log in with existing credentials
8. Complete identity verification with your South African ID document

APK Download Risks

Do not install Coinvest APK files from websites, social media links, or messaging app file transfers. Unauthorized APK files can contain:

• Keylogging software that captures login credentials and banking details
• Screen recording malware that tracks financial transactions
• Phishing interfaces that mimic legitimate login screens to steal passwords
• Banking trojans that intercept OTPs and two-factor authentication codes

Security researchers documented multiple fake Coinvest APK files circulating on social media during 2023 and 2024. These malicious applications used identical branding to the legitimate app but transmitted user credentials to criminal networks.

If you previously installed a Coinvest APK from an unofficial source:

1. Uninstall the application immediately
2. Change your Coinvest password and PIN
3. Review recent transactions for unauthorized activity
4. Contact Coinvest support to report potential compromise
5. Download the official app from verified app stores only

Coinvest NSFAS Registration (Historical Reference)

New student registrations for Coinvest NSFAS accounts are not available in 2026 because NSFAS terminated the service provider contract in May 2024. This section documents the registration process that applied during 2022-2024 for reference purposes only.

Previous Registration Requirements

Students assigned to Coinvest during the active partnership period completed registration through:

1. Institution notification (university or TVET college informed students of Coinvest assignment)
2. Identity verification portal access (unique registration link sent via SMS or email)
3. South African ID number submission (13-digit ID matching NSFAS records exactly)
4. Contact details confirmation (mobile number and email address verification)
5. Document upload (certified ID copy or recent student card)
6. Password creation (minimum 8 characters with uppercase, lowercase, number, and special character)
7. OTP verification (one-time password sent to mobile number)
8. Account activation confirmation (reference number provided for support queries)

Students could not choose their payment provider. NSFAS assigned beneficiaries to Coinvest, Ezaga, Tenet, or Norraco based on institution, campus location, and provider capacity.

Common Registration Errors (2022-2024)

• ID mismatch: Registration system rejected ID numbers that did not match NSFAS beneficiary records; resolution required contacting institutional financial aid office to verify ID on file
• Duplicate account: Error occurred if student previously registered; required password reset rather than new registration
• Document rejection: System flagged unclear ID scans; required uploading certified copies with all four corners visible and text legible
• Phone number already registered: Indicated number used for another account; required alternative number or support ticket to resolve conflict

Security and Scam Prevention

NSFAS and Coinvest will never request your full password, PIN, or OTP via unsolicited phone calls, WhatsApp messages, SMS, or email. Criminal networks actively targeted NSFAS beneficiaries with phishing schemes during 2023 and 2024, exploiting the Coinvest payment system transition.

Common Scam Tactics to Recognize

Phishing messages: Criminals send SMS or WhatsApp messages claiming to be from NSFAS or Coinvest, requesting immediate action to “verify your account” or “claim pending funds.” These messages include links to fake login pages that capture credentials.

Example phishing message: “Your NSFAS Coinvest account will be suspended. Click here to verify: [malicious link]”

OTP requests: Scammers call students pretending to be Coinvest support agents, requesting the OTP “to complete verification” or “to reverse a suspicious transaction.” Once provided, criminals use the OTP to access accounts and drain funds.

Fake customer service numbers: Social media posts and Google search ads promoted fraudulent Coinvest support numbers during 2023-2024. Students who called these numbers provided account details to criminals instead of legitimate support agents.

WhatsApp account verification scams: Messages claimed students needed to “re-verify” their Coinvest NSFAS account through WhatsApp. The verification process involved sharing OTPs that granted scammers access to WhatsApp accounts, which were then used to defraud contacts.

Verified Contact Channels

Official NSFAS contacts:

• Website: nsfas.org.za
• Email: info@nsfas.org.za
• Fraud reporting: speakup@nsfas.org.za
• SMS/WhatsApp: Verify numbers on the official NSFAS contact page only

Coinvest support: Verify current contact details on the official Coinvest Africa website (coinvest.africa) or verified social media accounts. Do not use phone numbers or email addresses from social media comments, Google ads, or unsolicited messages.

What to Do If You Suspect Fraud

1. Do not engage: Do not click links, respond to messages, or provide any information
2. Document evidence: Screenshot messages, note phone numbers, and save email headers
3. Report to authorities: File reports with both NSFAS fraud hotline (speakup@nsfas.org.za) and South African Police Service (SAPS)
4. Secure your accounts: Change Coinvest and myNSFAS passwords immediately
5. Monitor transactions: Check account history daily for 30 days after suspected compromise
6. Contact financial institutions: Alert your bank if you provided banking details to suspected scammers

The South African Banking Risk Information Centre (SABRIC) documented over 1,200 reported NSFAS-related phishing attempts during the 2023 academic year alone, with criminals exploiting confusion during the Coinvest payment system transition.

Support and Escalation Process

Contact Coinvest customer support first for account access issues, balance discrepancies, or withdrawal problems related to funds from 2022-2024 disbursements. For current 2026 NSFAS allowance issues, direct all queries to NSFAS through the myNSFAS portal or official contact channels.

Coinvest Support Contact Procedure

1. Gather required information before contacting support:
   • Your 13-digit South African ID number
   • Student reference number from NSFAS
   • Transaction reference numbers for disputed transactions
   • Screenshots of error messages or balance discrepancies
   • Dates and amounts of expected payments not received
2. Contact Coinvest support through verified channels listed on coinvest.africa
3. Request a formal support ticket number for your query
4. Note the support agent name and estimated resolution timeframe
5. Follow up if resolution exceeds promised timeframe, referencing your ticket number

NSFAS Support for 2026 Beneficiaries

Log in to the myNSFAS portal at my.nsfas.org.za and use the “Enquiries” or “Support” section to submit queries about 2026 allowance payments. The portal tracks all support requests and provides status updates on your dashboard.

Escalation steps for unresolved NSFAS issues:

1. Submit initial query through myNSFAS portal (provides tracking reference)
2. Wait 5 to 7 business days for response
3. If unresolved, email info@nsfas.org.za with portal reference number and query details
4. Copy institutional financial aid office for academic-related payment questions
5. Contact NSFAS Administrator’s office for systemic issues affecting multiple students
6. Report suspected fraud or corruption to speakup@nsfas.org.za with supporting documentation

When to Involve Your Institution

University and TVET college financial aid offices provide critical support for NSFAS-related issues:

• Registration verification: Confirm your student status appears correctly in NSFAS records
• Academic progress disputes: Address NSFAS funding suspensions due to academic performance flags
• Institutional allowance questions: Resolve accommodation or meal allowance discrepancies managed through your campus
• Missing payment investigations: Request institutional finance office to verify payment instruction submissions to NSFAS

Major institutions including University of South Africa (UNISA), University of Pretoria, University of Cape Town, and Cape Peninsula University of Technology maintain dedicated NSFAS support desks. Operating hours typically run Monday to Friday, 08:00 to 16:00.

Troubleshooting Common Coinvest NSFAS Problems

Problem: Cannot Log In to Coinvest Account

Verify you registered during 2022-2024 when Coinvest actively served NSFAS beneficiaries; students who first received NSFAS in 2025 or 2026 never had Coinvest accounts. If you confirm account existence:

1. Attempt password reset using “Forgot Password” on login screen
2. Verify mobile number registered with Coinvest matches your current number
3. Check email spam/junk folders for password reset messages
4. Clear browser cache and cookies if using web portal
5. Try alternative browser or switch between mobile app and web portal
6. Contact Coinvest support with ID number if reset fails

Problem: Balance Shows Zero Despite NSFAS Confirmation

Check the NSFAS payment date on your myNSFAS portal against Coinvest transaction history; payments during active Coinvest period (2022-2024) took 24 to 72 hours to reflect. If more than 72 hours passed:

1. Screenshot NSFAS payment confirmation showing date, amount, and reference
2. Screenshot Coinvest balance and transaction history showing zero balance
3. Note the exact date NSFAS shows payment disbursed
4. Contact Coinvest support with both screenshots and NSFAS payment reference
5. Request investigation of missing credit with specific payment date and amount
6. Escalate to NSFAS if Coinvest cannot locate payment after 10 business days

Problem: Withdrawal Fails with Error Message

Common withdrawal failure causes include incorrect bank details, exceeding daily limits, insufficient available balance, or account verification holds. Resolution steps:

1. Verify exact bank account number, branch code, and account holder name
2. Check available balance (not pending) covers withdrawal amount plus fees
3. Review daily withdrawal limits for your account type
4. Confirm account verification status (some accounts required additional ID verification)
5. Attempt smaller withdrawal amount to test system
6. Screenshot error message including error code if displayed
7. Contact support with error details and transaction attempt time

Problem: Suspicious Transaction on Account

Immediately freeze the account and report unauthorized activity if you identify transactions you did not authorize. Security response procedure:

1. Change Coinvest password and PIN immediately
2. Contact Coinvest support to freeze account and dispute transactions
3. Request full transaction history with dates, amounts, and transaction IDs
4. File SAPS report for theft and obtain case number
5. Provide case number to Coinvest for investigation
6. Report to NSFAS fraud hotline if incident involves NSFAS funds
7. Monitor account daily until investigation concludes

Problem: Account Locked After Multiple Login Attempts

Coinvest systems automatically lock accounts after 3 to 5 failed login attempts to prevent unauthorized access. Unlock procedure:

1. Wait 30 minutes before attempting login again (some systems auto-unlock)
2. Use “Forgot Password” to reset credentials rather than retry existing password
3. Verify you use correct ID number format (13 digits, no spaces)
4. Contact Coinvest support with ID number to manually unlock account
5. Complete identity verification questions support agent provides
6. Create new password following system requirements

The NSFAS Direct Payment Provider Investigation

The Special Investigating Unit (SIU) initiated investigations into NSFAS procurement processes in 2023 following allegations that direct payment provider appointments—including Coinvest, Ezaga, Tenet, and Norraco—did not follow proper tender procedures. The Organisation Undoing Tax Abuse (OUTA) submitted detailed allegations regarding the R47 billion NSFAS budget management.

Timeline of Key Events

September 2022: NSFAS announces direct payment provider model, appointing four fintech companies to manage student allowance disbursements, replacing institutional distribution systems.

January 2023: Student protests erupt at multiple universities and TVET colleges due to allowance payment delays, system errors, and unauthorized transaction fees charged by service providers.

March 2023: OUTA files corruption allegations with SIU, questioning procurement processes, provider qualifications, and conflicts of interest in appointment decisions.

August 2023: National Assembly Portfolio Committee on Higher Education summons NSFAS administrators to explain payment system failures and irregular expenditure concerns.

December 2023: Minister of Higher Education Blade Nzimande dissolves NSFAS board and appoints Freeman Nomvalo as administrator to oversee governance reforms.

Monday, May 27, 2024: NSFAS Administrator announces termination of all direct payment provider contracts, citing investigation findings and the need to return to student-controlled banking arrangements.

June 2024: NSFAS communicates transition plan to institutions, directing 2025 beneficiaries to register personal bank accounts on myNSFAS portal for direct deposits.

Investigation Findings

SIU reports identified multiple concerns with the direct payment provider system:

Procurement irregularities: Service provider appointments did not follow competitive bidding processes required by Public Finance Management Act (PFMA) regulations.

Experience deficiencies: Some appointed companies lacked demonstrated capacity to manage large-scale financial disbursements to over 800,000 beneficiaries annually.

Fee structures: Transaction fees and account maintenance charges imposed by service providers reduced effective allowance amounts students received, contrary to NSFAS policy.

System failures: Technical infrastructure could not handle transaction volumes, causing payment delays, balance discrepancies, and fund access interruptions during critical academic periods.

Governance concerns: Alleged conflicts of interest in appointment decisions and insufficient oversight of provider performance.

Impact on Students

The Organisation of South African Students (OSAS) documented student testimonies during the direct payment provider period:

• 34% of surveyed beneficiaries reported receiving allowances 7 to 21 days late during 2023
• Transaction fees consumed 4% to 8% of monthly allowances for students making frequent withdrawals
• System outages prevented account access during 12 documented incidents spanning 2022-2024
• Balance discrepancies affected approximately 18,000 students according to institutional financial aid office reports

These challenges contributed to NSFAS Administrator Freeman Nomvalo’s decision to terminate the direct payment provider model and implement direct bank account payments for 2026.

Key Differences: Coinvest System vs. 2026 NSFAS Banking

Feature	Coinvest System (2022-2024)	2026 NSFAS Direct Banking
Account Type	Coinvest digital wallet	Student’s personal bank account
Registration	Coinvest portal with separate credentials	myNSFAS portal bank details section
Transaction Fees	R5-R15 per withdrawal	Bank’s standard fees (typically R0-R5)
Monthly Charges	R8-R12 account maintenance	No NSFAS-related monthly fees
Payment Speed	24-72 hours after NSFAS instruction	3-5 business days after approval
Withdrawal Methods	Bank transfer, ATM, retail pickup	Standard banking (branch, ATM, online)
Card Provision	Coinvest NSFAS Mastercard	Student’s existing bank card
Support Channel	Coinvest customer service	NSFAS support + bank support
Account Control	Limited to Coinvest platform	Full banking features and services
Provider Choice	NSFAS assigned (no student choice)	Student selects any SA bank

Frequently Asked Questions

Official Resources and Verification Links

NSFAS Official Channels:

• Primary website: nsfas.org.za
• Student portal: my.nsfas.org.za
• Media statements: nsfas.org.za/content/media.html
• General inquiries: info@nsfas.org.za
• Fraud reporting: speakup@nsfas.org.za

Coinvest Africa:

• Website: coinvest.africa (verify HTTPS certificate)
• Support: Contact details on official website only

Regulatory Bodies:

• Department of Higher Education and Training: dhet.gov.za
• Special Investigating Unit: siu.org.za
• South African Banking Risk Information Centre: sabric.co.za

Student Organizations:

• South African Union of Students: saus.org.za
• Organisation of South African Students: Contact through institutional student representative councils

Action Steps for 2026

For students receiving NSFAS for the first time in 2026: Register your personal bank account details on the myNSFAS portal at my.nsfas.org.za. Do not attempt to create Coinvest accounts; the service provider relationship ended in May 2024.

For students with remaining Coinvest balances from 2022-2024: Log in to your Coinvest account, verify your balance, and withdraw all available funds to your personal bank account immediately. Update your banking details on myNSFAS portal for future allowance payments.

For students experiencing payment delays or issues: Contact your institutional financial aid office first to verify registration and academic progress status. Escalate unresolved issues through the myNSFAS portal support system with detailed documentation.

The transition from third-party payment providers to direct banking aims to reduce transaction costs, eliminate unauthorized fees, and provide students with full control over NSFAS allowances through their preferred banking institutions. The Department of Higher Education confirmed this model will continue throughout 2026 and future academic years.

Information verified against NSFAS official media statements, Department of Higher Education announcements, and Special Investigating Unit reports published through December 2025. Students should always verify current procedures on official NSFAS channels before taking action.