How To Fuliza

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How can I borrow money on Fuliza?

Fuliza is a service that allows all MPESA customers complete an MPESA transaction even when they have insufficient funds in their MPESA accounts.

 

Requirements

You have to be a registered active user on the Safaricom line.

Dial *234# and select option 0:Fuliza M-PESA in order to opt-in.

You can also use the new M-PESA app to opt-in Fuliza.

 

Fuliza Features

After you opt-in you can access features like:

        1)   Check My Limit 

        2) My Fuliza Balance

        3) Mini Statement

        4) Query Charges

        5)  Pay Fuliza loan on Old Line

        6) Know more about Fuliza

        7)  Opt Out

 

The M-PESA transactions that you can access with Fuliza are :

    Ø Lipa Na M-PESA: Buy goods and Paybill

    Ø As well as Send money.

 

Steps to Fuliza

If you have insufficient funds in M-PESA account just withdraw funds like usual from an agent,

Then it will ask you if you want to Fuliza select option 1: Yes.

You can also send money to another MPESA number and it will ask you with a prompt to Fuliza select Yes.

To fuliza, even without sufficient funds in MPESA just do the normal transaction as long as you are within your fuliza limit.

 

Fuliza with MPESA app

An easy way to Fuliza is using the MPesa app

In the Transact Tab at the bottom section there is a Fuliza button

Select it to check your limit or opt-in.

Then you can for instance, pay bills the normal way and it will prompt you to Fuliza.

 

How Much will I be charged to Fuliza?

You will be charged 1% access fee and a maintenance fee on the outstanding balance. The normal M-PESA transaction charges will apply.

Band	Tariff
0 -100	1 % access fee and  Ksh 2 per day
101-500	Ksh 5 per day
501-1000	Ksh 10 per day
1001-1500	Ksh 20 per day
1501-2500	Ksh 25 per day
2501-70000	Ksh 30 per day

 

 

How To Grow Fuliza Limit

You should continue using Safaricom and M-PESA services frequently and repay Fuliza M-PESA on time by toping up your M-PESA account.

 

FAQS about Fuliza M-PESA

1)   What is Fuliza?

Fuliza is an overdraft service that allows all MPESA customers complete their MPESA transactions even when they have insufficient funds in their MPESA accounts.

2) How do I opt in or opt out?

To join, you need to be an M-PESA registered customer with an  active Safaricom line. Dial *234# and select Fuliza M-PESA to opt-in.

3) What are the charges?

1% access fee and a daily fee depending on the amount applied for displayed on the table above.

4) How do I repay?

Any funds received or deposited in your M-PESA account will automatically be used to clear your outstanding Fuliza M-PESA

5)  How soon should I repay?

Clear your Fuliza M-PESA within 30 days. You will not access the service if you have any unpaid balance after day 30. The sooner you pay the cheaper

6) How do I increase my limit?

Continue using SAfaricom and M-PESA services frequently and repay Fuliza M-PESA in time by toping up your M-PESA account

7)  Why do I have a zero limit?

You cannot access Fuliza If: You have not been on M-PESA for at least 6 months; You are listed with CRB or you have defaulted your M-Shwari loan

8) Is Fuliza M-PESA a loan?

No. This is a continuous overdraft service that allows you to complete M-PESA transactions when you have insufficient funds

9) Are there penalties for late repayment?

You will not access the service if you have any unpaid balance after day 30. This will however be restored upon full repayment of your Fuliza balance

10)  How do I check Fuliza balance?

Dial *234*0# to check Fuliza Balance and confirm daily fee on the mini statement or access using app on transact tab