Is Fuliza Same As MShwari In 2022?

Is Fuliza Same As MShwari In 2022?

There are widely held misconceptions regarding the Fuliza and MShwari services.

Despite both services being provided by Safaricom in partnership with certain lenders, their key differences lie within their objectives and functionalities.

Below are some of the critical features that set the two Safaricom products apart.

1. Purpose

Fuliza is an overdraft facility that enables Lipa na M-Pesa subscribers complete their M-Pesa transactions whenever faced with instances of insufficient funds in the M-Pesa wallet.

MShwari is a credit/savings product that enables M-Pesa users to access short term loans as well as provide a savings platform towards a goal.

2. Withdrawals

Fuliza amounts are not withdrawable by the account holder but can be sent to another number for withdrawals.

MShwari amounts are withdrawable by the account holder.

3. Fees

Fuliza attracts daily charges of different amounts depending on the ‘Fulizad’ amount. These charges include;

Daily charges (Ksh)Amount (Ksh)
Ksh2 ( One-off)Ksh0 - 100
Ksh5Ksh101 - 500
Ksh10Ksh501 - 1,000
Ksh20Ksh1,001 - 1,500
Ksh25Ksh1,501 - 2,500
Ksh30Ksh2,501 - 70,000

MShwari attracts a one-time fee of 9% irrespective of the amount taken.

4. Repayment

Fuliza amounts are automatically deducted from the M-Pesa wallet upon deposit of funds.

MShwari loan amounts are manually repaid through the M-Pesa menu via the SIMtoolkit

Note: To avoid inconveniences caused by Fuliza indiscriminately deducting funds received into the M-Pesa wallet, follow this hack

5. Overdue amounts

Unpaid Fuliza amounts after the 30-day period results in denial from accessing the service until the full amount is offset.

Unpaid MShwari loans after the 30-day period attract an extension of an additional 30 days with an extra 7.5% fee charged on outstanding balances.

6. Overpayment

Extra Fuliza funds are retained in the M-Pesa wallet while excess funds in MShwari are transferred to the MShwari savings account.

7. Multiple transactions

Fuliza allows multiple transactions as long as one is within the allocated limit while MShwari requires prior repayment of the previous loan before accessing another loan

8. Activation

To activate Fuliza, dial *234# and select ‘Fuliza M-Pesa’ to opt in

To activate MShwari, go to M-Pesa menu and select ‘Activate/Wezesha’

9. Balance inquiry

To check Fuliza balance, dial *234#, select ‘Fuliza M-Pesa’ followed by option 2: ‘My Fuliza balance’

To check MShwari balance, go to MShwari menu and select ‘Shoe balance’ then enter your M-Pesa PIN

10. Limit inquiry

To check Fuliza limit, dial *234#, select ‘Fuliza M-Pesa’ followed by option 1: ‘Check My Limit’

To check MShwari limit,

Go to M-Pesa
Select ‘Loans and savings’
Select ‘MShwari’
Select ‘Loan @9% for 30 days’
Select ‘Check loan limit & fees’
Enter your M-Pesa PIN



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