Bustisha | Tigo Tanzania
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 Bustisha

Bustisha:

Bustisha is an overdraft service that enables you to complete your Tigo Pesa transactions when you have insufficient funds in your Tigo Pesa wallet. Tigo Pesa active customers will be eligible to access this product but will have to first subscribe and consent via the Tigo Pesa USSD menu or Tigo Pesa App.

Upon a failed transaction, subscribed customer will receive a notification of the respective Bustisha limit available to them and a request for their consent to utilize the service. Upon customer consent, the transaction will automatically be completed, and funds will be transferred straight to the intended destination. If a customer declines the consent, the transaction shall be declined with a notification of insufficient balance to the customer.

The Customer is expected to repay the overdraft extended to them upon depositing or receiving money in their Tigo Pesa Wallets.


Charges Structure:

There are two charges structures that will be charged to Bustisha Customers.

1. One-Time Interest:

One-Time Interest will be charged every time upon taking of New Tigo Pesa Overdraft. This shall be charged according to the bands as indicated below:

Band/Days One-Time-Interest
1-1000 5.70%
1001-3000 6.00%
3001 - 4000 6.20%
4001 - 10000 6.90%
10001 - 20000 6.20%
20001 - 30000 5.70%
30001 - 40000 5.00%
40001 - 50000 4.50%

2. Daily Interest:

There is a daily charge that a customer will be required to pay for each day the Bustisha facility remains unpaid called Interest. Interest will continue to accumulate each day a customer defaults on repaying the Tigo Pesa Overdraft till day 16th where Interest will be capped until the 30th day. The outstanding balance will not accrue any additional interest after Day 30.

Interest shall be charged according to the bands and number of days as indicated below:

Band/Days

INTERESTS BANDS

Same day

2' - 5 Days

6' - 10 Days

11' - 15 Days

After 16 Days

 1 – 1000

5.30%

6.80%

10.30%

14.30%

15.80%

 1001 - 3000

5.60%

7.10%

10.60%

14.60%

16.10%

 3001 - 4000

5.80%

7.30%

10.80%

14.80%

16.30%

 4001 - 10000

6.50%

8.00%

11.50%

15.50%

17.00%

10001 – 20000

5.80%

7.30%

10.80%

14.80%

16.30%

20001 – 30000

5.30%

6.80%

10.30%

14.30%

15.80%

30001 – 40000

4.60%

6.10%

9.60%

13.60%

15.10%

40001 – 50000

4.20%

6.00%

9.00%

13.20%

15.00%

How To Via USSD:

How to subscribe

• Dial *150*01#

• Select 7 Financial service

• Select 4 Loans

• Select 2 Bustisha

• Accept Terms & Condition

• Enter PIN to confirm subscription

Check Bustisha Limit

• Dial *150*01#

• Select 7 Financial service

• Select 4 Loans

• Select 2 Bustisha

• Select 2 Bustisha Limit

• Enter PIN to confirm

Settle balance in full

• Dial *150*01#

• Select 7 Financial service

• Select 4 Loans

• Select 2 Bustisha

• Select 1 Settle balance

• Select 1 Pay Full

• Then follow instructions

Settle balance in partial

•         Dial *150*01#

•         Select 7 Financial service

•         Select 4 Loans

•         Select 2 Bustisha

•         Select 1 Settle balance

•         Select 2 Pay Partial

•         Then follow instructions

Check outstanding balance

•         Dial *150*01#

•         Select 7 Financial service

•         Select 4 Loans

•         Select 2 Bustisha

•         Select 3 Outstanding balance

•         Enter PIN to confirm

How to unsubscribe

• Dial *150*01#

• Select 7 Financial service

• Select 4 Loans

• Select 2 Bustisha

• Select 5 Unsubscribe

• Enter PIN to confirm

• Then follow instructions

How To Via Tigo Pesa App:

How to subscribe

•         Open your Tigo Pesa APP

•         Select Financial service

•         Select Loans

•         Select Bustisha

•         Accept Terms & Condition

•         Enter PIN to confirm subscription

Check Bustisha Limit

•         Open your Tigo Pesa APP

•         Select Financial Services

•         Select Loans

•         Select Bustisha

•         Select BUSTISHA Limit

•         Enter PIN

Settle balance

•         Open your Tigo Pesa APP

•         Select Financial Services

•         Select Loans

•         Select Bustisha

•         Select Settle balance

•         Enter PIN

•         Then enter amount (Partial /Full)

•         Then follow instructions

Check outstanding balance

•         Open your Tigo Pesa APP

•         Select Financial Services

•         Select Loans

•         Select Bustisha

•         Select Outstanding Loan

•         Enter PIN

How to unsubscribe

•         Open your Tigo Pesa APP

•         Select Financial Services

•         Select Loans

•         Select Bustisha

•         Select Unsubscribe

•         Enter PIN

•         Then follow instructions


Frequently Asked Questions:

  What is Bustisha?

This is an overdraft service that allows Tigo Pesa customers to complete their Tigo Pesa transactions when they have insufficient funds in their Tigo Pesa account. All you need to do is transact normally on Tigo Pesa and if you have insufficient funds, Bustisha will cover the shortfall.

  What is the minimum and maximum amount I can send using Bustisha Tigo Pesa?

Bustisha limits range between 1 – 50,000 TZS, Customers will be allocated with different limits depending on their score which is determined by but not limited to: how frequently one is using Tigo Pesa services and repaying Bustisha overdraft history.

  Who is eligible to access Bustisha service?

All Tigo Pesa eligible subscribers, who have been active for more than 6 months can enjoy the Bustisha service, they just need to subscribe and consent to the service via the Tigo Pesa USSD menu or Tigo Pesa App.

  Which Tigo Pesa transactions can I complete using Bustisha service?

With Bustisha you can now complete the following Tigo Pesa transactions even with insufficient balance; Send money to all networks, Bill Payment, Government Payments, Merchant Payment (LKS), Mastercard Payment, and Airtime.

  Where will I see my Bustisha details?

Dial *150*01#, select (7) financial services, select (4) loans, select (2) Bustisha, there you can settle balance, check Bustisha limit, check outstanding loan, view Terms & Conditions, or unsubscribe from the service. You will receive confirmation SMS with information for each option you choose.

OR

Open your Tigo Pesa App, Select Financial Services, Select Loans, then Select BUSTISHA, there you can settle balance, check Bustisha Limit, check outstanding loan, view Terms & Conditions, or unsubscribe from the service. You will receive confirmation SMS with information for each option you choose.

  How much will I be charged for using Bustisha?

There are two types of charges on Bustisha services, One-Time interest, and daily interest. Please visit our website www.tigo.co.tz for more details on Bustisha charges.

  Can I reverse transaction & get my money back if I sent/paid to a wrong number and had used Bustisha?

Yes, your transactions will be refunded to your main wallet including the Bustisha amount (Loan Amount) if the receiver has not utilized the funds. The outstanding Bustisha overdraft amount will still be outstanding since we have already issued the overdraft.

  How many times can I use Bustisha service?

The number of transactions will depend on the Bustisha limit allocated to your wallet.

  How do I repay my Bustisha overdraft?

Customers may pay the debt at their free at any time within 72 hours. For customers with an outstanding overdraft of more than 3 days (72 hours), auto-debit of wallet will apply to recover the outstanding overdraft amount.

  Can I pay less than the whole overdraft?

Yes, you can partially pay your overdraft to avoid/ reduce late penalties amount.

  Why can't I get an overdraft?

The following are possible reasons:

  • You haven’t subscribed to the Bustisha service
  • You have exhausted your Bustisha limit
  • Your transaction is beyond your allocated Bustisha limit
  • The service you are performing is not an allowable service on Bustisha
  In case of service disruption and queries who should we contact?

In case of service disruption and query resolution, please dial 100 or visit any of our nearest Tigo Pesa shops for assistance.

  What happens when I use Bustisha, but the transaction is pending?

In case a subscribed customer has used the overdraft to complete the transaction and the service was not provisioned, the transaction will be rolled back and Bustisha facility will not be effective. Your BUSTISHA facility will be effective once you have received the service, or the pending transaction has become resolved.

Terms & Condition:

 

Click the link  www.tigo.co.tz/terms-and-conditions/bustisha

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