My FundiCard and how to check balance – this is what you need to know.
Fundi is one of the leading fund management and an education finance specialists in South Africa. Its mission is to assist students in perusing their dreams. This is done by providing educational finance that helps facilitate students – from tuition loans to device loans.
Their loan services cover all things education-related. Furthermore, their financial services enable students to enjoy accessible funding. The My Fundi card is an innovative cashless system that can be used on campus. This smart card technology works quite similar to a regular debit card; however, it can only be used by students. Therefore, using a MyFundi card is extremely convenient because students can manage their spending and cash allowances.
How to get a My Fundi card?
Fundi offices are located on campus and students will have to go there. Additionally, they can visit https://www.fundi.co.za/CallMeBack for more information.
Individuals will require having an original passport or identification document. Thereafter, students will receive their My Fundi card after their ID is verified. A Fundi Rep will then activate the card by swiping it at a terminal. Next, they will enter the student’s ID number. The student will then proceed to enter a PIN number for the card. Finally, the card will be registered and ready to use.
Getting funds loaded on the card
Once a student has cash loaded on their card they will be able to use it. It should be noted that students cannot transfer funding to different pockets. This can only be done as per the request of the funder/ sponsor – whoever manages the bursary funds.
Transferring funds
Once a student has cash loaded on their card they will be able to use it. It should be noted that students cannot transfer funding to different pockets. This can only be done as per the request of the funder/ sponsor.
Cash and transport allowance
Cash and transport allowances will be paid via EFT directly into students’ bank accounts. Therefore, students should upload their banking details on the Fundi portal. To do this, simply visit the online platform at https://mycard.fundi.co.za and click on “Upload banking details”.
How to upload banking details
Students will need to upload their bank details if a cash payment is allocated to them.
- First, visit https://mycard.fundi.co.za.
- Next, click on “Banking Details”
- Enter your ID number, student number and cellphone number
- Fill in the OTP
- Lastly, enter your bank details (account number, branch code, account holder name)
- Click on “Add banking details”
Additional information- Fundi Banking details
Students should ensure that the bank account belongs to them. The Fundi portal will verify this via SMS. Students will have to resubmit their banking details if the verification is unsuccessful. If a student changes their banking details they will need to upload the new changes. Additionally, this needs to be done 5 working days prior to payment.
The sponsor will need to first allocate funding before students uploads their banking details. Thereafter, cash allocations usually get paid out after 3 working days. Lastly, students only need to upload their banking details once.
Where can the My Fundi card be used?
Fundi has partnered up with leading education institutions and over 2,500 retail partners that accept the My Fundi card. These are the partners:
- Shoprite
- Checkers
- Pick ‘n Pay
- Selected Spar outlets
- Nando’s
- Gallitos
- KFC
Students can also use their My Fundi cards as a payment method at campus shops, schools and book stores.
My Fundi Card and how to check balance
There are three methods by which students can view their card balance.
Via Mobile
Firstly, register on the Fundi website and log in. Thereafter, dial *134*87646# on your cell phone and select option 2. The fundi account details and balances will then be sent to you.
Via the call center
The second way to check a balance is by calling the Fundi call center. Call 0860 44 33 44 for more information.
Via the campus office
Check online to view the closest campus office.
What is the purpose of a Fundi card?
As previously mentioned, the Fundi cashless card works as a payment solution, similar to a debit card. However, the Fundi card has various pockets that track and manage spending. Furthermore, a certain amount of money is put into each savings pocket for different purposes.
Furthermore, the purpose of the Fundi card is to ensure that students do not overspend. This way, they will have enough money for registration fees, textbooks, accommodation, food, and study tools.
Converting allowance to cash?
Yes, Fundi allows students to withdraw money from the card. However, withdrawing money can only be done at certain stores such as Checkers, Shoprite, and Pick ‘n Pay. Furthermore, cash and transport allowances will be paid via EFT. It will be the student’s responsibility to upload their banking details.
What exactly does the Fundi loan cover?
The Fundi solution is to find all educational needs in one place.
The Fundi loan covers loans to students while they’re studying. They take care of study loans and short courses. Hence, allowing access to those in need of financial assistance.
Accommodation Solutions
They also take care of accommodation loans. This is a necessity that all students require when studying. Plenty of times, accommodation can be quite expensive. However, Fundi’s accommodation platform simplifies the entire process
Airtime and Data
Students can have access to purchase airtime and data anywhere, at any time. Furthermore, the platform has various payment methods available. Getting airtime and data is extremely simple!
Study resources
Fundi covers all study materials and resources. This includes textbooks, study material, and devices.
Food
Students can enjoy access to a food allowance via the My Fundi card. They can shop for groceries at participating stores or restaurants.
The bottom line
Fundi provides students with educational loans and allowances to ease the financial burden. Their mission is to cover expenses in order for students to pursue their dreams at tertiary education. Furthermore, their solution is to make loans more affordable and accessible to students.
One of the major perks of using Fundi is that they do not require any collateral. As a salary deduction or through debit orders, repayments can be made. Most importantly, the purpose of the Fundi card is to provide cashless solutions to help ensure that students do not overspend monies.
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