Can I Fuliza If I Have Defaulted Mshwari Loan In 2023?

Can I Fuliza If I Have A Mshwari Loan?

According to statistics, Kenyans borrow approximately 1.2billion per day on Fuliza. For those not conversant with the service, Fuliza is an overdraft facility provided by Safaricom that allows M-PESA customers to complete their M-PESA transactions in the event that they have insufficient funds in their M-PESA wallets.

Another product provided by Safaricom that also competes with the above statistics of Fuliza is Mshwari which is a credit facility that also doubles up as a savings platform.

Although they are products from the same parent company, there are subtle differences that drive their autonomy in fulfilling their intended functions.

Below are examples of such variations between the two services.

  Mshwari Fuliza M-Pesa
Launch date November 2012 January 2019
Purpose Loans and Savings facility Overdraft facility
Activation Procedure Navigate to Safaricom menu via Sim toolkit, select ‘M-Pesa’ then ‘Activate/Wezesha’ Dial *234# and select ‘Fuliza M-Pesa’ to opt in
Fee charged One off 7.5% fee One off 1.083% fee and a daily administrative fee on outstanding balance ranging from Ksh5 – Ksh30 per day
Repayment procedure Manually make repayment through ‘Mshwari’ menu, select ‘Loan’, select ‘Pay loan’ and follow the procedure. Deducted automatically when funds are deposited into M-Pesa account.
Multiple usage No, unless you repay the initial outstanding loan and apply for another. Yes. As long as the amounts are within the Fuliza limit.
Withdrawal Yes. Navigate to the ‘Mshwari’ menu, select ‘Withdraw from Mshwari’ No, unless through a separate mobile number
Check balance Dial *334# Dial *234#

With the above distinctions in mind, it is therefore possible to make use of the two services simultaneously.

Categories: Fuliza


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  1. Try This Fuliza Hack To Instantly Increase Your Limit! [2023] - Konvigilante

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