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Fuliza M-Pesa Balance Now Withdrawable Via M-PESA Agents

Muchiri by Muchiri
January 10, 2023
in Tech News
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Fuliza M-Pesa Balance Now Withdrawable Via M-PESA Agents
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Fuliza M-pesa users can now withdraw their cash from M-pesa agents. When the overdraft facility was launched back in 2019, users were limited to how they could use the product.

At the time, users could only

  • Send money to friends and family
  • Use Lipa na M-PESA services such as Paybill and Buy Goods
  • Buy airtime for themselves and others via USSD or the M-PESA app

If a user wanted to withdraw their Fuliza cash, they had to send the money to another person who did not have Fuliza to withdraw it for them.

Fuliza M-pesa

With this latest improvement to the overdraft facility, users will now have an easier time withdrawing their Fuliza amount like they would with normal M-Pesa balances.

Latest Fuliza M-pesa Rates

While paying back Fuliza with interest, you will also be charged normal withdrawal charges. Luckily,  Fuliza readjusted the repayment rates down by up to 50%. 

Here are the current Fuliza rates.

AMOUNT IN KshOLD RATESNEW RATES% CHANGE 
One-time Access Fee 1%1%No Change
1 – 100KES 0 Daily Maintenance Fee (DMF)KES 0 DMF
101 – 500KES 5 DMFKES 2.5 (Free first three days)50%
501 – 1,000KES 10 DMFKES 5 (Free first three days)50%
1,001 – 1,500KES 20 DMFKES 1810%
1,501 – 2,500KES 25 DMFKES 2020%
2,501 – 70,000KES 30 DMF KES 25 16.7%

Fuliza has grown to be one of Safaricom’s biggest earners having overtaken the likes of KCB M-PESA and M-Shwari in terms of earnings.

For instance, by March 2022, it had Ksh 502.66 billion in value of Fuliza disbursements, a 43.1% year on year increase with 101.5% repayment versus disbursal rate.

The telco reached Ksh 5.94 billion in Fuliza revenue, a 31.0% year on year increase.

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