Fuliza M-PESA is a new overdraft service that allows M-PESA customers to complete their M-PESA transactions when they have insufficient funds in their accounts.
Here’s how you can register and use the service -:
- Dial *234# and select Fuliza M-PESA to opt in. You need to be an M-PESA registered customer with an active Safaricom line.
- Once you have opted in, you can Dial *234# and Select Fuliza M-PESA to check your limit, balance, mini statement, and opt-out option. Every time you transact using Fuliza, you will receive an SMS with the outstanding Fuliza amount.
You can also install the mySafaricom app that is available on Android and iOS. The app allows you to monitor your Fuliza without having to dial *234#
Fuliza M-Pesa does not allow you to withdraw money.
Here are a few other facts -:
How many accounts can I hold for Fuliza M-PESA services?
Every M-PESA registered line will be treated as a different account. Each mobile number will qualify for Fuliza M-PESA and will be awarded a limit. This limit will be reviewed every 3 months depending on your usage.
How many times can I use Fuliza M-PESA?
You can use it as many times as needed as long as you are within the allocated Fuliza M-PESA limit.
Which M-PESA transactions can I complete using Fuliza M-PESA?
- Lipa Na M-PESA: Buy goods and Paybill as well as Send money
How do I use my Fuliza limit?
All you need to do is transact normally on M-PESA and if you have insufficient funds, Fuliza M-PESA will cover the shortfall.
How do I grow my Fuliza M-PESA limit?
Continue using Safaricom and M-PESA services frequently and repay Fuliza M-PESA on time by topping up your M-PESA account.
How much will I be charged for using Fuliza M-PESA?
You will be charged a 1% access fee and a maintenance fee on the outstanding balance as per the below table. Normal M-PESA transaction charges apply.
|Band||Tariff||Promotional Tariff for 30 days from launch|
|0 -100||One-time fee of Ksh 2||One-time fee of Ksh 0|
|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|
Are there any Penalties for late repayment?
You will not have access to your Fuliza M-PESA limit if you have any unpaid balance after day 30. This will however be restored on full repayment of your Fuliza balance.