Fuliza is a overdraft service that allows Safaricom’s M-PESA customers to complete their M-PESA transactions even when they do not have enough funds. To enjoy Fuliza a customer needs to be registered on M-PESA . Customers should then to opt into the Fuliza service to enjoy the service.
- 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.
- Accounts registered using Foreign passport cannot successfully opt-in to Fuliza.
- 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
- Alternatively find it within the M-PESA App and OPT in.
- 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.
- You 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:
|Band||Tariff||20% Excise Duty||Total Charges|
|0 -100||KSh. 0||KSh 0||KSh 0|
|101-500||KSh 2.5||KSh 0.5||KSh 3|
|501-1000||KSh 5||KSh 1||KSh 6|
|1001-1500||KSh 18||KSh 3.6||KSh 21.6|
|1501-2500||KSh 20||KSh 4||KSh 24|
|2501-70000||KSh 25||KSh 5||KSh 30|
As of a couple of weeks ago, Safaricom now allows customers to withdraw cash from Fuliza. This means that if you have a Fuliza limit of KSh 500, you can withdraw KSh 470, with a transaction fee of KSh 27.
NOTE: Fuliza limit will be refreshed (upwards or downwards) depending on the usage and timely repayment of the facility.