Fuliza Code: The Ultimate Guide To Understanding And Using Fuliza In Kenya

Fuliza code has revolutionized the way Kenyans handle mobile transactions, providing a seamless solution for those who need a little extra cash to complete their payments. This innovative service, launched by Safaricom, allows users to overdraft their M-Pesa accounts and complete transactions even when they have insufficient funds. In this comprehensive article, we will delve into the details of Fuliza, its benefits, how to use it, and much more.

As mobile money continues to gain traction globally, understanding services like Fuliza is crucial for anyone looking to make the most out of their financial transactions. With millions of Kenyans relying on M-Pesa for daily transactions, the introduction of Fuliza has made it easier for users to navigate financial challenges without the stress of running out of money at critical moments. This article aims to provide you with all the necessary information about Fuliza code, ensuring that you can utilize it effectively.

Whether you are a long-time M-Pesa user or new to the platform, this guide will equip you with the knowledge to enhance your mobile money experience. We will explore the intricacies of the Fuliza service, including its activation, limits, fees, and frequently asked questions. By the end of this article, you will have a comprehensive understanding of Fuliza code and how it can benefit your daily transactions.

Table of Contents

• What is Fuliza?
• How Fuliza Works
• Benefits of Fuliza
• How to Activate Fuliza
• Fuliza Limits and Fees
• Fuliza vs Other Loan Options
• Frequently Asked Questions
• Conclusion

What is Fuliza?

Fuliza is an overdraft service provided by Safaricom’s M-Pesa, allowing users to complete transactions even if they do not have enough money in their M-Pesa account. It was introduced in January 2019 to address the issue of failed transactions due to insufficient funds, making it easier for users to pay for goods and services without the worry of running out of money.

How Fuliza Works

When you attempt to make a payment through M-Pesa and do not have sufficient funds, Fuliza automatically allows you to borrow the necessary amount to complete the transaction. Here’s how it works:

• When making a payment, if your balance is insufficient, M-Pesa will prompt you to use Fuliza.
• You can choose to accept the Fuliza offer, and the required amount will be temporarily credited to your M-Pesa account.
• Once you complete the transaction, the borrowed amount will be deducted from your M-Pesa account when you next top up your balance.

Benefits of Fuliza

Fuliza offers several advantages to its users, including:

• Convenience: Fuliza allows users to complete transactions seamlessly without worrying about insufficient funds.
• Immediate Access: Users can access funds instantly during a transaction without the need to apply for a loan.
• Flexible Repayment: The borrowed amount is deducted from the user’s M-Pesa account when they next deposit funds, making repayment easy.
• No Physical Documentation: Fuliza does not require any paperwork or physical collateral, simplifying the borrowing process.

How to Activate Fuliza

Activating Fuliza is a straightforward process. Here are the steps to get started:

1. Ensure you have an active M-Pesa account.
2. Dial *234# on your mobile phone.
3. Select the Fuliza option and follow the prompts to activate the service.
4. You will receive a confirmation message once your Fuliza account is activated.

Fuliza Limits and Fees

While Fuliza provides a convenient overdraft service, it is essential to understand the limits and associated fees:

Limits

The Fuliza service has different borrowing limits based on the user’s transaction history and M-Pesa usage. Generally, users can borrow between Ksh 100 and Ksh 70,000.

Fees

Fuliza charges a daily fee on the borrowed amount, which is deducted from your next M-Pesa deposit. The fee structure is as follows:

• 0-1,000 Ksh: 1% daily fee
• 1,001-70,000 Ksh: 0.5% daily fee

Fuliza vs Other Loan Options

Compared to traditional loan options, Fuliza offers several unique benefits:

• Speed: Fuliza provides immediate access to funds without lengthy application processes.
• No Credit Checks: Users do not need to worry about creditworthiness, making it accessible to a broader audience.
• Lower Fees: Fuliza's fees are generally lower than those of microloans or payday loans.

Frequently Asked Questions

Here are some common questions about Fuliza:

1. Can I use Fuliza for all M-Pesa transactions?

Yes, Fuliza can be used for various transactions, including paybill, Pochi la biashara, and person-to-person transfers.

2. What happens if I do not repay Fuliza?

If you fail to repay Fuliza, your borrowing limit may be reduced, and you may eventually be barred from using the service.

Conclusion

In conclusion, Fuliza code is an innovative service that has significantly improved the way Kenyans conduct mobile transactions. By offering a convenient overdraft solution, Fuliza allows users to navigate financial challenges with ease. Understanding how to activate and use Fuliza, as well as its limits and fees, is essential for anyone looking to enhance their M-Pesa experience.

We encourage you to share your thoughts and experiences with Fuliza in the comments section below. If you found this article helpful, consider sharing it with friends or exploring other informative articles on our site.

Thank you for reading, and we look forward to welcoming you back for more insightful content!

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