Fuliza is an exciting and a recent product by Safaricom mobile network. This service enables the Safaricom customers to complete their M-PESA transaction when they have insufficient funds in their M-PESA account.
The M-PESA overdraft, introduced by Safaricom is a partnership with Commercial Bank of Kenya (CBA).
You must be 18 years old and above, registered and an active M-PESA customer.
You can sign up by dialing *234#. After signing up, you will receive a sms confirmation with the fuliza limit confirmation. If a limit is not provided, it means you will have to perform several other transactions with M-PESA in order to be enrolled in the service. By dialing *234#, you can as well be able to check the limit balance, mini statement and also opt out of the service.
Access fee of 1% is charged and a maintenance fee on the outstanding balance is charged as per below table. Normal M-PESA transaction charges apply.
0 – 100 One-time fee of Ksh 2
101 – 500 Ksh per day
501 – 1000 Ksh 10 per day
1001 – 1500 Ksh 20 per day
1501 – 2500 Ksh 25 per day
2501 – 70000 Ksh 10 per day
You can use Fuliza as many times as you want as long as you are within the limit.
Fuliza allows you to Lipa na M-PESA, Pay bills as well send money transactions.
Each mobile registered M-PESA line is treated as a different account and given its limit which is reviewed after three months depending on usage.
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