Pochi La Biashara, a service by Safaricom, is designed to help small business owners effectively manage their finances by separating business funds from personal ones. It is especially beneficial for vendors like small kiosk operators, boda-boda riders, second-hand clothes sellers, food vendors, and other informal businesses. This article provides a breakdown of Pochi La Biashara charges, how to join, and how to manage your business funds using the platform.
How to Join/ Register For Pochi La Biashara
To register for Pochi La Biashara, follow these steps:
- Dial *USSD 334# on your M-PESA registered line.
- Select Pochi La Biashara from the menu.
- Choose Join and accept the Terms & Conditions.
- Select your business category from the options provided.
- You will receive an SMS confirmation notifying you of successful registration to Pochi La Biashara.
Once registered, you can begin using the service to receive payments directly into your Pochi La Biashara account, while keeping your personal finances separate.
How to Access Funds in Pochi La Biashara
There are two main ways to access funds in your Pochi La Biashara account:
a) Withdraw from an Agent:
- Dial USSD *334#.
- Select Pochi La Biashara.
- Choose Withdraw from Agent.
- Enter the Agent Number and the Amount you want to withdraw.
- Complete the transaction using your M-PESA PIN.
Please note that normal agent withdrawal charges apply for this transaction.
b) Move Funds from Pochi La Biashara to M-PESA:
- Dial USSD *334#.
- Select Pochi La Biashara.
- Choose Withdraw Funds.
- Select From Pochi La Biashara to My M-PESA.
- Enter the Amount and complete the transaction with your M-PESA PIN.
This transfer from your Pochi La Biashara account to your personal M-PESA account is free of charge.
Pochi La Biashara Charges
The charges for using Pochi La Biashara are the same as the standard M-PESA transaction rates. Below is the breakdown of the charges based on the transaction amounts:
| Transaction Range (Kshs) | Charges (Kshs) |
|---|---|
| 1 – 49 | Free |
| 50 – 100 | Free |
| 101 – 500 | 7 |
| 501 – 1,000 | 13 |
| 1,001 – 1,500 | 23 |
| 1,501 – 2,500 | 33 |
| 2,501 – 3,500 | 53 |
| 3,501 – 5,000 | 57 |
| 5,001 – 7,500 | 78 |
| 7,501 – 10,000 | 90 |
| 10,001 – 15,000 | 100 |
| 15,001 – 20,000 | 105 |
| 20,001 – 35,000 | 108 |
| 35,001 – 50,000 | 108 |
| 50,001 – 150,000 | 108 |
These rates apply when customers make payments to your Pochi La Biashara account. The business owner does not incur any charges when receiving payments, making it a cost-effective way for small businesses to accept Mpesa payments.
How To Check Pochi La Biashara Balance
To check your Pochi La Biashara balance, follow these steps:
- Dial USSD *334#.
- Select Pochi La Biashara.
- Choose My Account.
- Select Check Balance and enter your M-PESA PIN.
You will receive an SMS with the current balance in your Pochi La Biashara account.
Important Notes
- Fuliza Protection: Funds in your Pochi La Biashara account are protected from Fuliza deductions. This ensures that business funds are not affected by personal overdrafts.
- Reversal Protection: Once a payment is made to a Pochi La Biashara account, it cannot be reversed without the business owner’s approval, offering added security for business owners.
Pochi La Biashara is a convenient and secure way for small businesses to manage their transactions, ensuring financial separation between business and personal funds. With competitive charges and added features like commission on airtime sales and mini-statements, it’s an essential tool for Kenyan business owners.
