How to use Fuliza MPESA
The latest statistics on how Kenyans have borrowed money using mobile lending, apps show how Kenyans have grown an appetite for easy loans. Fuliza MPesa is one of the most used services offered by Safaricom.
What’s Fuliza MPesa?
Fuliza MPesa is simply a service that allows those who have registered Safaricom lines to complete their M-PESA transaction when they have insufficient funds.
How does one use Fuliza Mpesa?
Fuliza MPesa is available to everyone with a valid and registered Safaricom line. You will need to join Fuliza MPesa before using the service.
To join Fuliza MPesa you will have to dial *234# and select option Zero (0) labeled Fuliza Mpesa and opt-in. You will receive a congratulatory message from Safaricom confirming that your request has been accepted.
You can confirm the limit that you have been allocated for use, it ranges from Ksh 1 to Ksh 70,000 depending on how you use MPesa services.
Practical examples of how to use Fuliza MPESA
Let’s say you’re in a supermarket, you have picked a number of items that exits your budget. You had planned to use KSh 10,000 but you have picked items worth KSh 13,000.
You need an extra Ksh 3,000 to pay for the extra items. The Fuliza MPesa service will sort you out if you have a limit of KSh 3,000 and above.
You will just pay the normal way using a Till number, then a notification will pop up on your screen asking you if you would wish to continue to Fuliza M-PESA.
If you press yes, it means that you have agreed to the terms and conditions by Fuliza MPESA. The extra KSh 3,000 would have been catered for by Fuliza MPESA.
Another practical example of how to use Fuliza MPESA is when you are sending money to another Safaricom customer, but your M-PESA balance is less.
Let’s say you’re sending KSh 1,000 to your brother and you have only KSh 200. Fuliza MPESA allows you to borrow KSh 800 if your limit is KSh 800 or more. You will receive a pop message asking you to continue to Fuliza M-PESA, if you accept then the KSh 800 will be sent.
What are Fuliza MPESA charges?
Fuliza MPESA charges a 1% access fee and a maintenance fee on the outstanding balance. The breakdown of how you will be charged for using Fuliza MPESA is as below;
- Band Tariff Promotional Tariff for 30 day from launch 0-100 one-time fee of KSh 2.4
- Ksh 101-500 Ksh 6 per day
- Ksh 501-1000 Ksh 12 per day
- Ksh 1001-1500 Ksh 24 per day
- Ksh 1501-2500 Ksh 30 per day
- Ksh 2501-70000 Ksh 36 per day
Fuliza MPESA penalty.
For those who might have used Fuliza M-PESA and fail to pay within the stipulated timelines of 30 days, they will not be able to access the Fuliza MPESA limit until the unpaid debt is settled.
Amusingly, the Fuliza MPESA limit is restored immediately after completing the unpaid balances.
What does it mean when you agree to Fuliza MPESA terms and conditions?
Some of the notable terms when you agree to Fuliza M-PESA terms are;
- You authorize the service to use information relating to your use of the MPESA services, M-Shwari Service, MPESA system and other Safaricom products.
- Safaricom and NCBA may exchange any of your personal information held by them in respect of provision of any Safaricom or NCBA products and services including the MPESA Services. For more click here.
How Fuliza MPESA overdraft debt is paid.
The model used by Fuliza MPESA is a very straightforward one. The limit you are given acts as an overdraft.
So, when you receive the money in your MPESA account, Fuliza MPESA deducts first the overdraft money you were given.
Can money send using Fuliza MPESA be reversed?
Money send using Fuliza MPESA can be reversed. You need to follow the MPESA reversal process as long as the person has not utilized the funds.
Safaricom introduced the simplest way of reversing money send to a wrong number. You need the send the MPESA SMS to 456/.
Can one Withdraw Fuliza MPESA money?
Unfortunately, you cannot withdraw money from Fuliza MPESA. You can only pay for bills and send money to your loved ones only.
