When you have a Fuliza limit of about KSh 5,000, borrow KSh 2,000 and fail to repay on time, you will not access the remaining KSh 3,000. Safaricom CEO Peter Ndegwa speaking at a past event. This is according to Safaricom PLC, the M-Pesa overdraft service provider. How to access Fuliza if part falls overdue?....CLICK HERE TO READ THE FULL ARTICLE>>>
According to the Fuliza terms, the loan facility should be repaid within 30 days. However, when this falls overdue, the company reserves the sole discretion to renew or extend the Facility Term In an exclusive response to TUKO.co.ke, Safaricom explained that if the repayment terms expire, the customer may not access the remaining limit balance until they clear the debt overdue.
“You (customer) can only access the full limit once you clear the outstanding balance,” said Safaricom. Will your Fuliza limit be restored? Safaricom said if the customer repays the debt after three months, the limit will be slashed based on the credit score.
However, if the loan is paid within three months, the customer will still get the full limit. “You will still be able to access your full Fuliza limit as long as the debt is not older than three months,” the company noted.
Why Safaricom locked customer’s remaining Fuliza limit This explains why Safaricom denied a customer access to a Fuliza balance of KSh 3,000 after his KSh 2,000 loan fell overdue.
The M-Pesa customer took to social media, questioning the telco over the move. The telecommunications firm urged the customer to clear the accumulated loan balance first to access the full limit.
“You only repay the outstanding balance (principal amount plus any maintenance fee accrued on the principal amount taken) to access your full Fuliza M-PESA limit if the total unpaid balance is over 30 days,” Safaricom replied to the customer.
Safaricom explains why Fuliza may not be deducted Fuliza, an M-Pesa overdraft facility, is repaid once a subscriber immediately tops up the M-Pesa account.
However, according to Safaricom customer Engineer Amos, his friend’s Fuliza debt of KSh 500 is yet to be repaid, yet he makes prompt deposits. Safaricom explained to TUKO.co.ke that such situations are rare and can only occur once a customer has received Hustler Fund within the last 24 hours….CLICK HERE FOR MORE ARTICLE>>>
