Fuliza is a continuous overdraft service that allows Safaricom’s M-PESA customers to complete their M-PESA transactions even when they do not have enough funds in their M-PESA account.
To enjoy Fuliza M-PESA overdraft services, a customer needs to be registered on M-PESA with an active Safaricom M-PESA line. Customers will need to opt into the Fuliza service to enjoy the service.
Eligibility
M-PESA customers registered using their national ID/Kenyan passport/Military ID can activate Fuliza but not all are eligible for a loan limit upon activation.
M-PESA accounts registered using Foreign passport cannot successfully opt-in to Fuliza.
Upon opting in, one will be assigned a limit that defines the maximum amount of overdraft they can access.
How to OPT in to FULIZA
Dial *334#
Select Loans and Savings>> Select FULIZA
OPT in
What is great about FULIZA
A customer can request for Fuliza as many times as long as it is within the allocated limit.
A customer will be able to Send Money to both registered and unregistered customers.
Customer can pay to Lipa Na M-PESA: Buy goods and Paybill.
Customer can Buy airtime for self and other via USSD or M-PESA APP
Fuliza limit
Fuliza limit will be allocated upon activation by a customer who has been active on the network for at least 6 Months based on their line’s activity.
To grow Fuliza limit, you need to continue using Safaricom and M-PESA services and repay your Fuliza M-PESA facility on time by toping up your M-PESA account.
Customers on our network for less than 6 months will have a ZERO LIMIT.
Note: Fuliza limit will be refreshed (upwards or downwards) depending on the usage and timely repayment of the facility.
Fuliza Charges
A customer will be charged a one off 1% access fee and a daily maintenance fee is applied the next day at midnight or 00.00 hrs.
A Customer will also be charged 20% excise duty on the access fee. That means a customer who uses Fuliza and repays before the next day at 00.00hrs will only pay the access fee and a maintenance on the outstanding amount as per the table below:
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 toping up your M-PESA account.
To grow Fuliza limit, you need to continue using Safaricom and M-PESA services and repay your Fuliza M-PESA facility on time by toping up your M-PESA account. Customers on our network for less than 6 months will have a ZERO LIMIT.
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. How many times can I use Fuliza M-PESA?
Fuliza limit will gradually be reduced and eventually cancelled if the amount is not settled as expected. Failure to settle the Fuliza amount utilized in 120 days will lead to CRB listing. Failure to settle the Fuliza amount utilized in good time can affect your chances of accessing other credit services within Kenya.
It offers a 1, 7 & 21-day loan facility for the Lipa Na M-PESA merchants using M-PESA Business Till product. The loan amount ranges between Kshs. 100 to Ksh. 200,000.
We are licensed to provide digital credit by the Central Bank Of Kenya. m-pesa statement? We use your statement to score you for a loan, determine your inflows and outflows and to analyse your spending patterns. Without your mpesa statement we cannot provide you a credit limit nor verify you.
500,000. Nairobi, Kenya – 14th August 2023 … Safaricom (NSE: SCOM) is set to increase M-PESA account limits to KSh.500,000 following approval from the Central Bank of Kenya.
Make sure you are a frequent user of MPesa and Fuliza services and you repay your Fuliza loan on time Also, confirm you have no withstanding Fuliza balance.
hold any of your funds standing in credit with KCB or NCBA as collateral and security for any amounts outstanding and due from you in respect of the Facility or Service.
Overdraft Facility: Fuliza acts like an overdraft. You can borrow funds within your assigned limit, even if your M-Pesa account balance is low. Immediate Access: Fuliza allows you to send money, pay bills, and buy goods without worrying about insufficient funds.
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