What Happens if I Opt Out Of Fuliza

What happens if I opt out of Fuliza? Read on to learm more about the outcomes of opting out of Fuliza services.

Fuliza is extremely helpful when you don’t have enough cash in your Mpesa account to spend.

However, if you do not have good spending habits, it can become addictive.

So, it’s a good idea to review your priorities to see if you’ll need the Fuliza service or if you can avoid it entirely.

Opting out of Fuliza may also be due to other reasons, such as: no longer wanting to borrow from Fuliza, or failing to repay your loan on time, resulting in a negative credit score and inability to access more money.

This article explains the consequences of opting out of the overdraft facility.

So, what happens if I opt out of Fuliza?

What happens if I opt out of Fuliza?

If you choose not to use Fuliza, nothing much will happen. It is not a big deal to leave Fuliza.

However, if you opt out, you will be unable to pay for goods and services, purchase airtime, or even send money with insufficient funds in your account.

Fortunately, you can re-enroll in the service whenever you want.

You should also expect the following if you choose to opt out:

1.     Your credit score will be affected

When you opt out of Fuliza, your credit score is affected.

As a result, Fuliza will not consider your regular credits or any amounts received in your Mpesa.

To improve your credit score, you will have to restart using Safaricom services, KCB Mpesa, and Mshwari.

If you have had a Fuliza loan, your repayment history will determine whether or not your credit score improves.

The good news is that you can sign up for Fuliza on as many different accounts as you like. So, if you cancel one Mpesa line, you can still use the service on another Mpesa account, and your limit will remain the same because the other account is still active.

However, if you do not repay the loan on the first line, your credit rating may change.

 

2.     Your Fuliza limit will change

When you agree to begin using Fuliza, you will immediately receive a Fuliza limit that you can use to make transactions when your Mpesa account has insufficient funds.

That limit will increase based on a variety of factors, including timely repayment of loans (particularly Fuliza loans) and continued use of Mpesa services on a regular basis.

Assume you sign up for Fuliza, receive a limit, and then disable it. Sometimes the loan limit decreases dramatically, so when you rejoin in the future, you are likely to be advanced a smaller amount.

This is most likely to occur if your Mpesa service has been inactive since you opted out, or if you have an existing loan with Mshwari or KCB Mpesa.

However, if you use MPESA more frequently, the limit may increase.

Otherwise, if you have a debt, you will be unable to opt out of Fuliza. It’s bad news for you because the request will not be processed until you service your loan. So, if you are unable to pay, you are better off not enrolling.

 

How do I opt out of Fuliza?

So, how do you opt out of Fuliza?

You can opt out of Fuliza in two ways: via a USSD code or via the Mpesa app.

Both options are simple and only take a few seconds.

Understand, however, that opting out of Fuliza has consequences.

Here now is how to opt out from Fuliza:

1. On your phone, dial *234#
2. Go to Fuliza Mpesa option
3. Choose opt out.

By selecting the Yes option, you confirm that you want to opt out.

Once completed, Mpesa will notify you that you have successfully opted out of Fuliza Mpesa.

You can also opt out of Fuliza using the Mpesa app, as shown below:

1. On your phone, open the Mpesa app.
2. Navigate to the transaction section.
3. Select Fuliza.
4. Click the three dots in the top right corner of the Fuliza dashboard.
5. You will be given the option to opt out of Fuliza; choose it.

After you confirm your choice, you will receive notification that you have opted out of Fuliza.

That’s all there is to it! You are no longer a Fuliza M-PESA customer!

Remember that once you opt out, your Mpesa menu is updated, and the service is no longer available—this usually happens within 1 minute. After that, you can successfully opt in again.

 

How to opt in of Fuliza once more (How to opt in to Fuliza)

1. Dial *234# on your phone.
2. Select Fuliza Mpesa.
3. Click on the “yes” option to get started.
4. After that, accept the terms and conditions.

 

What happens if I opt out of Fuliza?

Fuliza vs. Hustler Fund

First, Hustler Fund’s goal is to provide a platform where small-scale business owners, farmers, mama mboga, and individuals can access money at an affordable interest rate regardless of CRB status, whereas Fuliza’s goal is to allow its customers to complete Mpesa transactions with insufficient funds in their Mpesa accounts.

Second, Fuliza is only available to Safaricom Mpesa customers who have been active for six months based on online activity, whereas Hustler Fund is available to anyone who has had an active SIM card from Airtel, Safaricom, or even Telkom for more than 90 days.

Third, Fuliza allows you to borrow multiple times until your allocated limit is exhausted, whereas hustlers fund only allows you to borrow the entire limit amount once.

Furthermore, Hustler Funds charges an annual interest rate of 8% or 0.02% per day on the amount borrowed, whereas Fuliza charges a 1% access fee and a daily maintenance fee applied the next day at night, as well as a 20% exercise fee.

Finally, if a borrower fails to repay hustler fund within 14 days, the interest rate is increased to 9.5% on the 15th day, and the account is deactivated if it is not cleared by the 30th. On the other hand, if you do not repay your Fuliza loan by the 30th day, your MPesa account will not be deactivated, but your Fuliza limit may be reduced.

And just to let you know, you can get Hustler funds by dialing *254# and registering.

 

Summary of What Happens if I Opt Out of Fuliza

As we’ve seen, if you opt out of Fuliza services, you won’t be able to use Lipa na Mpesa, make paybill payments, or even send money if you don’t have enough money in your account.

Your credit score and Fuliza limt are also impacted.

So, I hope the question on, what happens if I opt out of Fuliza has been fully addressed.

 

ALSO READ:

What you need to know about Fuliza from Safaricom

How to Fuliza money to another number

How to increase Fuliza limits 2023