The PayDNA Student Card offers a seamless financial solution designed specifically for students who need quick, secure access to funds. As a prepaid card, it allows for easy cash access, convenient swiping for purchases, and unique features tailored to fit the student lifestyle. This card is particularly beneficial for local and international students studying in South Africa, providing financial flexibility with simplicity and efficiency.

With the added benefit of a mobile wallet feature, students can send funds to friends instantly or use the card for essential purchases, such as prepaid airtime or electricity. The PayDNA Student Card presents an adaptable financial tool for students who need hassle-free, on-the-go access to their finances.

Key information about the PayDNA Student Card

How does the annual fee work?

A notable advantage of the PayDNA Student Card is its zero-annual-fee policy. This fee-free aspect is especially beneficial for students on a budget, providing them with the financial flexibility they need without the burden of recurring costs. The absence of an annual fee aligns with the purpose of this card as an economical and accessible option for young adults, allowing students to focus on managing their studies and expenses with ease.

How is the credit limit determined?

As a prepaid card, the PayDNA Student Card’s “credit limit” is set by the cardholder through the amount deposited. Unlike traditional credit cards, where institutions determine the credit limit based on factors like income or credit history, this card puts control in the hands of the user. Students can load the card with an amount they feel comfortable managing, making it a versatile and self-controlled financial tool for budgeting.

Advantages of the PayDNA Student Card

• No annual fee: With no annual cost, the card is financially accessible, making it an ideal choice for students who need to manage expenses without extra fees.
• Convenient mobile wallet: The card’s mobile wallet feature allows students to send money instantly to friends using card-to-card transfers, creating a fast and reliable way to support peer-to-peer transactions.
• Free swipes at stores: There are no charges for swiping at any location that accepts MasterCard, allowing students to make purchases freely without worrying about hidden fees.
• Prepaid airtime and electricity: Students can buy essential prepaid services like airtime and electricity directly through the mobile wallet, adding to the card’s practical value.
• Ideal for local and international students: This card is suited for both South African residents and international students, ensuring wide usability.

Standout advantage

One of the most significant advantages of the PayDNA Student Card is its mobile wallet feature. This addition allows cardholders to manage finances directly from their mobile devices, facilitating instant money transfers between friends. Students benefit from this peer-to-peer transfer function, which is both free and convenient, enhancing the card’s functionality beyond simple spending and giving students a streamlined tool for daily financial interactions.

Disadvantages of the PayDNA Student Card

• Limited to loaded funds: As a prepaid card, students can only spend what they load, which might not suit those needing credit or emergency funds.
• No credit-building feature: This prepaid card doesn’t contribute to a credit score, so students looking to build credit might need a different card.
• Limited rewards program: Unlike some other student cards, the PayDNA Student Card does not offer significant rewards or cashback incentives for purchases.

A standout disadvantage

A notable drawback of the PayDNA Student Card is its lack of a credit-building feature. Since it’s a prepaid card, transactions don’t contribute to building a positive credit history. This limitation can affect students who want to start establishing their credit early on. While the card serves as a functional financial tool, students interested in improving or creating a credit profile may want to consider other options that can contribute to their credit score.

Who can apply for this card?

The PayDNA Student Card is available to students enrolled in a recognized institution within South Africa, with eligibility extending to both local and international students. Applicants should be at least 18 years old and have an active identification document, such as a national ID or passport.

Since the card functions as a prepaid option, there’s no need to provide proof of income or undergo a credit check, making it accessible even to those who are new to managing their finances. Approval is straightforward, and students do not need to worry about credit status or income requirements.

How to apply for the PayDNA Student Card

For the website

Students can apply directly on the PayDNA website, where the application process is streamlined and user-friendly. After navigating to the Student Card section, students are prompted to fill out an application form that requires basic personal information and verification documents, such as proof of identity.

The website provides step-by-step guidance, making it easy to complete the application within minutes. Once the form is submitted, students will receive a confirmation email with further instructions on activating and loading their card. This online application option is perfect for students looking to complete the process quickly and remotely.

Through the app

Applying through the PayDNA app offers the additional convenience of managing the entire process from a mobile device. After downloading and installing the app, students can navigate to the prepaid cards section, where they’ll find the Student Card option. From there, the app guides them through each application step, from entering personal details to uploading any necessary documents.

The mobile application process is intuitive, catering to tech-savvy students who prefer handling finances digitally. Once approved, students can use the app to monitor balances, send money to friends, and reload their card easily, all from one central platform.

At the branch

For students who prefer a more personal touch, PayDNA also offers in-store application options. Students can visit any PayDNA branch, where a representative assists with filling out the application form and answering any questions about the card’s features or benefits. This method might be preferable for those who want hands-on support or need assistance with document verification.

After completing the application in person, students will receive their card on-site or by mail, depending on the branch’s policy. This face-to-face interaction can be beneficial for students who are new to financial products and would like guidance throughout the application process.