Fuliza is a service offered by Safaricom that enables users to complete their financial transactions even when they do not have enough money in their MPesa.
According to the Safaricom website, the service is available to all MPesa users but caries depending on one’s credit ranking on the mobile money service and how long you have used MPesa.
“You will be charged 1% access fee and a maintenance fee on the outstanding balance as per below table. Normal M-PESA transaction charges apply,” the website reads.
MPesa transactions that users can complete with Fuliza are Lipa Na M-PESA, Buy goods, Paybill and Send money.
The only transaction not available with Fuliza is withdrawal of funds from your MPesa account.
To check one’s Fuliza limit, there are three steps:
- Type *234#
- Select 0 which reads Fuliza M-Pesa
- Select option 1 which reads Check my limit
You will receive confirmation from Safaricom showing how much you can use when you have insufficient funds to make an MPesa payment.
The more times one uses Fuliza service, the more they get a chance of a limit increase. The limit is reviewed every three months.
MPesa users can also opt out of the Fuliza service but only once their debt is fully paid up.
Funds received or deposited into one’s M-PESA account are automatically deducted to clear outstanding Fuliza amounts.
In four months ending May 2019, Fuliza had advanced Ksh.45 billion over the first quarter of the year.
The service also accumulated 8.8 million customers within the same period even as critics raised concern over pitfalls of other short-term lending apps
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