How To Stop Fuliza Daily Charges In 2023

Fuliza is a common term used in mobile money related financial transactions in Kenya. Being the brainchild of Safaricom, Fuliza allows its users access to overdraft facilities via the M-PESA platform.

Convenience being its major selling point, Fuliza enables the completion of M-PESA related transactions even in instances of insufficient M-PESA balances.

However, such a convenience comes at a financial cost in terms of daily charges.

Fuliza amounts usually attract a fixed interest rate of 1% and varying daily charges dependent on the overdrawn amount.

Fuliza M-PESA Charges 2023

As you can see, Fuliza interest and daily charges increase/decrease relative to the Fuliza amount.

Fuliza Amounts (Ksh) Interest (Ksh) Daily fees (Ksh)
200 – 500 0.1 – 5 3
501 – 1,000 5 – 10 6
1,001 – 1,500 11 – 15 21.6
1,501 – 2,500 16 – 25 24
2,501 – 70,000 26 – 30 30

Factors Affecting Fuliza Charges In 2023

Besides the Fuliza amount, several factors can affect the amount of daily charges on your Fuliza. Such factors include;

Outstanding Fuliza balance: the higher the outstanding Fuliza balance, the higher the daily charges

Repayment Period: the lengthy Fuliza repayment period, the more the daily fuliza charges accrue.

Fuliza Usage frequency: the higher the transactions done via fuliza, the more the daily charges due to extended loan exposure.

Consequently, fuliza daily charges can accrue significantly thus resulting in financial strain if not curbed or minimized in order to regain financial stability.

To do this, it is essential to review your Fuliza transaction history regularly so as to help you identify fees and charges associated with your overdrawn fuliza amount.

By gaining insight on specific transactions, it assists in the management of spending habits and the making of informed decisions to minimize future charges.

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A) How To Check Fuliza Charges 2023

Currently, there are various platforms with which you can use to query fuliza charges such as:

i. How to check fuliza charges via USSD *234#

check fuliza charges via *234#

A number of M-PESA related services including PIN manager, M-PESA goods, business till, agent/merchant services as well as financing for insurance premiums are offered by the M-PESA dedicated service code *234#

Steps
Dial *234# from the Safaricom network
Select option 0: Fuliza M-PESA
Select option 4: Query charges

ii. How to check fuliza charges via USSD *334#

334aa

A similar M-PESA allocated network code *334# deals with a variety of service alternatives such as Lipa Na M-PESA as well as send/withdraw cash, airtime purchase, loans & savings and other extra services are available.

Steps
Dial *334# from the Safaricom network
Select option 4: Loans & Savings
Select option 1: Fuliza
Select option 4: Query charges

iii. How to check fuliza charges via USSD *100#

100dd

Numerous Safaricom services are available by dialing *100# including SIM inquiries, service subscriptions, PUK retrievals, M-PESA reversals etc

Steps
Dial *100# from the Safaricom network
Select option 1: M-PESA/reversal
Select option 6: Loans & Savings
Select option 1: Fuliza
Select option 4: Query charges

iv. How to check fuliza charges via USSD *456#

456bb

Okoa/Sambaza/Please Call Me, Jitambulishe, Buy and Bonga are just a few of the Safaricom related services available via *456#

Others include Activate/Join Postpaid, Safaricom Home, PUK retrieval services and a lot more.

Steps
Dial *456# from the Safaricom network
Select option 5: M-PESA
Select option 0: Fuliza M-PESA
Select option 4: Query charges

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B) How To Check Fuliza Transaction History (Fuliza Mini Statements)

Fuliza mini statements consist of a short summary detailing your fuliza transaction history such as date & description, fee charged and amount.

Access to fuliza mini statements can be done via any of the below outlined methods.

i. How to check fuliza mini statement via *234#

Dial *234#
Select option 0: Fuliza M-PESA
Select option 3: Mini Statement

ii. How to check fuliza mini statement via *334#

Dial *334#
Select option 4: Loans & Savings
Select option 1: Fuliza
Select option 3: Mini Statement

iii. How to check fuliza mini statement via *100#

Dial *100#
Select option 1: M-PESA/Retrieval
Select option 6: Loans & Savings
Select option 1: Fuliza
Select option 3: Mini Statement

iv. How to check fuliza mini statement via *456#

Dial *456#
Select option 5: M-PESA
Select option 0: Fuliza M-PESA
Select option 3: Mini Statement

v. How to check fuliza Mini Statement via MySafaricom App

Open the MySafaricom App ( Playstore / Appstore )
Tap on the M-PESA icon
Tap on Fuliza M-PESA
Your Fuliza Mini Statement will be displayed

vi. How to check fuliza Mini Statement via M-PESA App

Open M-PESA App ( Playstore / Appstore )
Enter your M-PESA PIN
Tap on the transact icon at the bottom
Tap on Fuliza
Your Fuliza Mini Statement will be displayed

Strategies To Stop Fuliza Daily Charges

Upon identifying the various charges related to Fuliza, you can therefore work towards stopping or minimizing the daily charges through the implementation of the below strategies which include;

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1. Making full payment of fuliza balance

As earlier highlighted, fuliza charges are imposed on daily fuliza outstanding balances.

Therefore, in order to stop the daily charges, it is essential to make full fuliza repayments as compared to partial repayments.

2. Reduce fuliza usage frequency

Through the analysis of your spending habits, you can identify unnecessary expenditure brought about by fuliza and therefore cut back on the non-essential transactions.

By doing this, you will eventually reduce your reliance on fuliza thereby ultimately reducing the daily charges.

3. Shorten repayment duration

Previously highlighted as one of the contributors to fuliza charges, it is crucial to promptly pay off any fuliza balances to avoid accumulation of the daily charges.

4. Opt out of fuliza

Opting out of fuliza means discontinuation of the service and thereby self-imposing yourself to a zero fuliza limit which may ultimately lead to limited access to emergency funds, increased reliance on loan apps, limited credit score improvements as well as limited financial flexibility.

5. Explore other financial alternatives

Apart from fuliza, there are other digital credit facilities such as USSD loans, salary advance, loan apps etc with which you may access emergency funds.

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