Withdrawing Fuliza Money: You Can Now Do so From an M-Pesa Agent

Safaricom’s Fuliza service, which allows users to access overdrafts, has now expanded its capabilities. Customers can now withdraw Fuliza money directly from any M-Pesa agent, an option that was not previously available. This is a change from the previous limitation which did not allow people to withdraw their Fuliza money.

Since its inception in 2019, the Fuliza overdraft facility has gained tremendous popularity in Kenya. Nearly everyone has had an interaction with it, either directly or indirectly. The service got so popular that in just six months after being launched by Safaricom, it had issued a record amount of Ksh 81 billion to borrowers. The service has now surpassed the combined usage of similar financial service providers; KCB M-Pesa and M-Shwari.

The only limitation it has had since then is the inability for users to withdraw their Fuliza money directly from M-Pesa agents. You could only use the service to pay bills, buy goods, and send money to other M-Pesa users when your wallet falls short of the balance. To get or withdraw your money, you had to send it to someone else and request them to withdraw it for you, which attracted extra M-Pesa transaction charges and caused inconveniences. However, that is now in the past.

How to withdrawing Fuliza money from an M-Pesa agent

Withdrawing Fuliza money from an M-Pesa agent is straightforward, just like how you normally withdraw your M-Pesa money. As long as your Fuliza limit is enough, you can walk into an M-Pesa agent’s shop and withdraw it, even with a zero balance in your M-Pesa account. For example, if your Fuliza limit is Ksh 1000 and you have no balance in your M-Pesa wallet, you can withdraw Ksh 972 as you will have to account for the Ksh.28 M-Pesa withdrawal fee. However, the amount you will have to repay is Ksh 1000, plus the Fuliza interest.