Fuliza M-Pesa is a service offered by Safaricom, one of Kenya's leading mobile network operators, in partnership with (NCBA) Bank. It allows M-Pesa users to complete transactions even when they have insufficient funds in their M-Pesa account. Essentially, Fuliza acts as an overdraft facility for M-Pesa users, enabling them to borrow money for transactions such as sending money, paying bills, and making purchases. Recently Fuliza Mpesa Customers can also withdraw money up to their Fuliza limit.
To start using Fuliza M-Pesa, you need to meet certain criteria. First and foremost, you must be a registered M-Pesa user with a valid Safaricom SIM card. Additionally, your M-Pesa account must be active and in good standing, meaning you should have a history of using M-Pesa services responsibly.
Once you meet these requirements, you can activate Fuliza M-Pesa on your Safaricom line by following these steps:
How To Activate/ Register for Fuliza na MPESA
To register for Fuliza MPESA overdraft follow this procedure:
On your phone dial *234#
Select option (0) zero
Choose opt in
You will receive a message that you are now registered for Fuliza.
How To Check Your Fuliza MPESA limit.
On your phone dial *234#
Select option (0) zero Fuliza MPESA
Select Check my limit
You will receive an SMS with your Fuliza limit.
Confirmation: Once you have successfully activated Fuliza M-Pesa, you will receive a confirmation message confirming your enrollment in the service as well as the Fuliza limit awarded.
Once Fuliza M-Pesa is activated on your line, you can start using it to complete transactions even when you have insufficient funds in your M-Pesa account. Here's how Fuliza works:
1. Transaction: When you initiate a transaction (e.g., sending money or paying a bill) and you don't have enough funds in your M-Pesa account to cover the amount, Fuliza steps in to cover the shortfall. Withdrawal is also permitted with Fuliza Mpesa.
2. Funds Availability: The amount you can borrow through Fuliza depends on your credit limit, which is determined by factors such as your M-Pesa usage history and repayment behavior. Your credit limit is communicated to you via SMS once Fuliza is activated.
3. Repayment: Fuliza loans are short-term and are meant to be repaid quickly. When you top up your M-Pesa account, the outstanding Fuliza balance is automatically deducted from your account, along with a small service fee. You can also make manual repayments by transferring money directly to your Fuliza account.
4. Service Fees: Fuliza M-Pesa attracts a small service fee for each transaction and for the days you hold the borrowed funds. These fees vary depending on the amount borrowed and the duration of the loan.
It's important to use Fuliza M-Pesa responsibly and only borrow what you need and can afford to repay. Defaulting on Fuliza loans can negatively impact your creditworthiness and may limit your access to other financial services in the future.
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