How To Fuliza M-Pesa in 5 Easy Steps

How To Fuliza Mpesa

Fuliza is a revolutionary service that has changed how we handle our finances. With the ability to access credit instantly, it has become a game-changer for those needing urgent funds. 

But how does one use Fuliza? What are the benefits and drawbacks of this service? 

In this article, we will guide you through using Fuliza and provide you with all the information you need to make informed decisions about your finances. 

Whether you’re a seasoned user or a newcomer to the world of instant credit, this guide will help you navigate the ins and outs of Fuliza. 

So buckle up and get ready to learn how to Fuliza like a pro!

What is Fuliza Mpesa?

Fuliza M-Pesa is an overdraft loan facility launched by Safaricom in partnership with the Commercial Bank of Africa in 2019. It allows Safaricom’s M-PESA customers to complete their transactions even when they do not have enough funds in their M-PESA account. 

The primary goal of this service is to ensure that you can still make payments, send money, or buy goods and services even when you run out of money. 

To use Fuliza, M-Pesa customers must opt into the service. 

The limit of the overdraft provided is determined based on the customer’s M-Pesa transaction history. The more frequently a customer uses M-Pesa services, the higher their limit will likely be given.

How to Fuliza Mpesa

To use Fuliza, dial *234# on your Safaricom line and follow the prompts. You can access credit up to your limit and repay it within 30 days. Even though Fuliza provides a convenient way to access instant credit, remember that it comes with high-interest rates.

Fuliza Eligibility

To be eligible to use Fuliza Mpesa, you must be a registered Safaricom M-Pesa user. 

Additionally, you must have used the Safaricom network for over six months to qualify for Fuliza Mpesa. If you meet these requirements, you can activate Fuliza Mpesa.

How to Opt-In Fuliza

To activate Fuliza Mpesa, follow these simple steps:

  1. Dial *234# on your Safaricom M-Pesa registered line.
  2. Choose option 0, Fuliza M-Pesa.
  3. Select option 1 to opt in.
  4. Choose option 98, then 1 to accept the Fuliza terms and conditions to opt in.

Once you have activated Fuliza Mpesa, you can access overdraft facilities.

How to Opt out of Fuliza

If you wish to opt out of Fuliza Mpesa, follow these steps:

  1. Dial *234# on your Safaricom M-Pesa registered line.
  2. Choose option 0, Fuliza M-Pesa.
  3. Select option 2 to opt out.

Once you have opted out of Fuliza Mpesa, you can no longer access overdraft facilities.

Understanding Fuliza Limits

Your Fuliza limit will depend on your usage and timely facility repayment. 

To grow your Fuliza limit, you must continue using Safaricom and M-PESA services and repay your Fuliza M-PESA facility on time by topping up your account. 

If you’re a new customer on the Safaricom network for less than six months, your Fuliza limit will be zero. You can check your balance and limit and get your mini statement by proceeding to the Safaricom icon to access the Fuliza menu.

Fuliza Mpesa Use Cases

If you’re wondering how you can use Fuliza Mpesa, here are some of the most popular use cases:

Send Money To Another Number Via Mpesa

With Fuliza Mpesa, you can send money to another Mpesa number even when you don’t have enough funds in your Mpesa account. This is especially useful when sending money urgently and needing more cash in your Mpesa account. To send money using Fuliza Mpesa, follow these steps:

  1. Dial *234# on your phone
  2. Select Fuliza Mpesa from the menu
  3. Enter the amount you want to send
  4. Enter the recipient’s Mpesa number
  5. Confirm the transaction

Pay Bills Using Fuliza

To pay bills using Fuliza Mpesa, follow these steps:

  1. Dial *234# on your phone
  2. Select Fuliza Mpesa from the menu
  3. Select Pay Bill
  4. Enter the bill number
  5. Enter the amount you want to pay
  6. Confirm the transaction

Withdrawing Fuliza Cash at a Mpesa Agent

To withdraw Fuliza Mpesa cash at a Mpesa agent, follow these steps:

  1. Go to any Mpesa agent
  2. Tell the agent that you want to withdraw Fuliza cash
  3. Provide your phone number and ID
  4. The agent will process your request and give you the cash

Buying Airtime Using Fuliza

To buy airtime using Fuliza Mpesa, follow these steps:

  1. Dial *234# on your phone
  2. Select Fuliza Mpesa from the menu
  3. Select Buy Airtime
  4. Enter the amount you want to buy
  5. Enter the recipient’s phone number
  6. Confirm the transaction

How To Check Fuliza Limit

If you’re a Fuliza M-PESA user, knowing how to check your limit is essential. Here’s how you can do it:

  1. Dial *234# on your Safaricom line.
  2. Select option 0 (Fuliza M-PESA).
  3. Press the “Send” button.
  4. On the next screen, select “Check My Limit.”
  5. Your Fuliza limit will be displayed on the screen.

It’s important to note that your Fuliza limit will be refreshed (upwards or downwards) depending on your usage and timely repayment of the facility. 

If you have any outstanding balance after day 30, you can only access your Fuliza M-PESA limit once it is fully repaid.

How To Increase Fuliza Limit

To grow your Fuliza limit, you must continue using Safaricom and M-PESA services and repay your Fuliza M-PESA facility on time by topping up your account. 

Here are some other tips to keep in mind:

  • Use Fuliza Mpesa regularly to show that you are a reliable user.
  • Keep funds in your Mpesa account to show you can repay the loan.
  • Receive money through Mpesa to show that you have a steady source of income.
  • Use Lipa Na Mpesa to transact and show that you regularly use Safaricom services.
  • Withdraw money from your Mpesa wallet to show that you can repay the loan.
  • Complete transactions within 30 days to show that you are a responsible user.
  • Consider opening an account with NCBA to increase your chances of getting a higher limit.

As aforementioned, funds borrowed through Fuliza M-PESA can be used to complete transactions such as buying goods, buying airtime, paying bills, and sending money to other M-PESA users. Transaction charges apply, and an access fee of 1% of the outstanding balance exists.

How To Repay Fuliza Mpesa Loan

Here are the steps to repay your Fuliza Mpesa loan:

  1. Dial the Fuliza code *234# on your Safaricom mobile phone.
  2. Select “Fuliza M-PESA” from the menu options.
  3. Select “Pay balance.”
  4. Enter the amount you want to repay and follow the prompts to complete the repayment.

It’s important to note that you can only repay your Fuliza Mpesa loan with funds in your Mpesa account. You must top up if you need more funds in your Mpesa account. 

You will also be charged a service fee of 1% of the outstanding balance for every day your Fuliza Mpesa loan remains unpaid. Therefore, this makes it essential to repay your loan as soon as possible to avoid additional fees.

Fuliza Mpesa Charges

You will incur two charges when using the Fuliza Mpesa service. These are a one-off interest rate on every transaction and a daily administrative fee. The interest rate is 1.083% on every transaction, while the daily administrative fee varies depending on the amount you have used within the set limit.

To better understand the charges, here is a table that shows the daily administrative fees for different amounts used within the Fuliza limit:

Amount UsedTariff20% Excise DutyTotal Charges
Kshs. 0-100Ksh 0Ksh 0Kshs. 0
Kshs. 101-500Ksh 2.5Ksh 0.5Kshs. 3
Kshs. 501-1000Ksh 5Ksh 1Kshs. 6
Kshs. 1001-1500Ksh 18Ksh 3.6Kshs. 21.6
Kshs. 1501-2500Ksh 20Ksh 4Kshs. 24
Kshs. 2501-70000Ksh 25Ksh 5Kshs. 30
Source: Safaricom Official Website

It is important to note that these charges are subject to change, and you should always check with Safaricom for the latest fees.

Additionally, Safaricom charges a 1% access fee and a maintenance fee on the outstanding balance. Standard M-PESA transaction rates also apply.

To avoid incurring high charges, it is essential only to use the Fuliza Mpesa service when necessary and to repay the outstanding balance as soon as possible. This will help you avoid accumulating high-interest rates and daily administrative fees.

Final Take on Fuliza Mpesa

Fuliza M-Pesa offers a unique and flexible solution when you need to complete a transaction, but your M-Pesa account needs to run higher. Allowing you to ‘fuliza’ or overdraft ensures that you can continue to send money, make payments or purchase goods and services uninterrupted.

This convenience is not a regular source of funds but a temporary aid for your immediate transactions. Be sure to repay promptly to avoid extra charges and to increase your limit over time. With careful use, Fuliza can add to your financial flexibility and freedom. Happy transacting, and ‘Fuliza’ responsibly!

Frequently Asked Questions About Fuliza:

How do I know if I am eligible for Fuliza?

To be eligible for Fuliza, you must be a Safaricom M-PESA customer with an active M-PESA account for at least six months and have been actively using M-PESA services for the past three months.

How much credit can I access with Fuliza?

Your M-PESA transaction history, savings, and repayment behavior determine your Fuliza limit. The more you use M-PESA, the higher your limit will be.

How do I repay my Fuliza loan?

Your Fuliza loan will be automatically deducted from your M-PESA account balance after 30 days. If you need more funds in your M-PESA account, the outstanding balance will be deducted the next time you deposit funds into your M-PESA account.

What are the interest rates for Fuliza?

Fuliza comes with a daily interest rate of 0.5%, translating to an annual percentage rate (APR) of 182.5%. Using Fuliza responsibly and only when necessary is essential, as the interest rates can add up quickly.

What happens if I default on my Fuliza loan?

If you default on your Fuliza loan, you will be blocklisted by the Credit Reference Bureau (CRB), which can affect your ability to access credit in the future. It is essential to repay your Fuliza loan on time to avoid negative consequences.