How to Fuliza MPESA
According to Safaricom PLC, Fuliza is a a service that allows M-PESA customers to complete their M-PESA transactions when they have insufficient funds in their M-PESA account.
Fuliza is not an MPESA loan product but a continuous overdraft service that allows you to complete M-PESA transactions when you have insufficient funds.
The requirements to activate Fuliza MPESA service are: You need to be an M-PESA registered customers with an active Safaricom line. You dial *234# and select Fuliza M-PESA to opt in.
Every M-PESA registered line will be treated as a different account. Each mobile number qualifys for Fuliza M-PESA and will be awarded a limit. This limit will be reviewed every 3 months depending on your usage.
To know your Fuliza MPESA account details you 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.
One can use Fuliza MPESA as many times as needed as long as you are within the allocated Fuliza M-PESA limit.
The MPESA transactions you can complete with Fuliza MPESA are Lipa Na M-PESA: Buy goods and Paybill as well as Send money.
To grow your Fuliza MPESA limit you need to continue using Safaricom and M-PESA services frequently and repay Fuliza M-PESA on time by toping up your M-PESA account.
Please note you cannot withdraw funds from Fuliza M-PESA.
To use Fuliza MPESA you are charged 1% access fee and a maintenance fee on the outstanding balance.
Normal M-PESA transaction charges apply.
To repay Fuliza MPESA any funds received or deposited in your M-PESA account are automatically used to clear your outstanding Fuliza M-PESA.
The minimum and maximum amount you can send using Fuliza MPESA are: Transaction limits 1- 70,000/=
In case you pay or send money to a wrong number or till using Fuliza the M-PESA reversal process applies as long as the recipient has not utilized the funds. You can also initiate reversal by sending the M-PESA SMS to 456
The penalties for late repayment are that 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.
This is not a sponsored post or an advert but an answer to Kenyans most asked question “how to Fuliza”.