Think of the stress and time wasted sometimes getting an account opened from a brick and block bank (physical banking premises), or trying to get a transaction-related issue in your account. Well, it is becoming impressive to learn that there are credible digital banking platforms that allow you to carry out the same transactions including getting loans as you apply from the physical banks.
Customer services are topnotch with other services you definitely will like to hear about.
The digital banking platforms provide a highly competitive change rate, even some services are offered for free. Unlike the brick and block banks.
We have come close to monitoring the Cabon bank also known as “a digital bank” or “an online bank”. Cabon is one of the best online banking platforms in Nigeria you can rely on.
Below is the Carbon bank review.
What is Carbon Digital Banking?
Carbon bank is a credibly online banking platform that allows users to make a series of financial transactions. Carbon is known for its simple look but loaded with top-notch features to better the lives of its users across the country.
On Carbon, you get a free Carbon bank account, pay bills, transfer money, get instant loans, and enjoy high-interest savings, all in one place.
Carbon bank account – With the Carbon account, you can receive and send money across other banks.
Pay bills – You can pay bills like water bills, electricity bills, cable tv, airline, and more. The transaction process is fast and so convenient.
Instant loan approval – Inside your account is where you can apply for an instant loan. Loans are approved based on certain criteria; like checking your Carbon account history – with consistent and sufficient transaction history. Including considering your history on other browsers and an up-to-date detail of you.
High-interest savings – You can keep aside money (a kind of savings) to earn interest. You can earn upto 15.5% interest per annum.
API Integration – The Carbon Bank also has special features for businesses. Throgh API integration businesses successfully transact with their customers from around the world.
Cards – If you are looking to have a carbon Virtue card, here you got it. But not just that; it offers both MasterCard and Visa virtual cards. The Carbon virtue card offers a fantastic feature that is uncommon in its space. For example; with your Carbon virtual card, you can convert your local currency to a dollar currency and vice vasa, allowing you to shop worldwide.
So in here, you get both Visa and Master Card, Physical and virtual cards – all in one account!
Carbon offers TWO different account varieties; Personal and Business accounts. They both offer almost the same features, But there is still dissimilarity between both accounts.
Carbon Digital Personal account
As the name implies, it’s personal, whereby your transactions are done on your behalf. That is, it is recognized to be a single person (not a business) running the account.
In that sense, creating the Carbon digital account will only require information about you; your name, address, mode of personal identification, etc.
A personal account in general has a limitation on how many transactions can be carried out daily, whether sending money, paying bills, etc. The same applies to Carbon’s digital personal account.
How to Create Carbon Personal Digital Bank Account
Going through the Carbon bank registration process, it seems signing up from the Carbon Mobile app is the only option. But can further login through the Carbon website and mobile app too.
To sign up for the Carbon account, first, download the Carbon Bank mobile app using the link below.
- Launch the Carbon app,
- Tap on “Setup new account”,
- Enter your details as they appear on your legal document. Start by inputting your First name, Last name, Date of birth, and gender. Then tap on the “Continue” button,
- Enter your phone number correctly. Ensure the phone number you input is correct and reachable to receive SMS or call. Then tap on the “Continue” button.
Of course, confirm again that the phone number you entered is correct before proceeding further, else, you can edit it now too.
- Create your private 4-digit login PIN, and confirm its correctly input,
- Now open your phone SMS to copy the confirmation code Carbon has sent. Enter the code in the box provided.
- Then enter your email address. At this point, Carbon will be sending a link to your email – for your email confirmation. Make sure to complete the process too
Welcome to Carbon!
Now you should see your free Carbon personal account has been created successfully.
Now you can proceed with Upgrading your Carbon account to open more features on your personal account.
Carbon Bank Account Upgrade
The starting point for any account is “Level 1”; on a level 1 account, you can’t make any transactions until you upgrade your Carbon bank account. However, depending on the use intention of your Carbon account, there are up to 3 Levels to upgrade to. Each Level has its requirements – Level 3 is the highest level though.
Please note that we have used Nigeria currency (Naira) to show each of the level limits.
Account Transaction Limits:
- Single transaction Limit – N0
- Daily transaction limits – N0
- Account maximum balance – N0
It simply means you can’t do any of these transactions at the moment.
After the initial account sign-up, providing your name, email, and phone number (and verifying them), no document is required here, but required to upgrade your account to either level 2 or 3.
Please note that we have used Nigeria currency (Naira) to show each of the level limits. Your country will depend on which currency is shown on your Carbon Bank Account.
Account Transaction Limits
- Single transaction Limit – N50,000
- Daily transaction limits – N300,000
- Account maximum balance – N500,000
To upgrade your account to level 2 you need to provide the following information; Bank Verification Number (BVN), Residential address, and a selfie of yourself.
Please note that we have used Nigeria currency (Naira) to show each of the level limits. Your country will depend on which currency (and transaction limits) is shown on your Carbon Bank Account.
Account Transaction Limits
- Single transaction Limit – N1,000,000
- Daily transaction limits – N5,000,000
- Account maximum balance – N999,999,999,99
To upgrade your account to level 2 you need to provide the following information; Bank Verification Number (BVN), Identity card, Residential address, a selfie of yourself, and Utility bill document.
To start this process, simply login to your account, then;
- tap on the “Upgrade your Carbon account” card (or the”Upgrade now” button),
- then select the level you want to upgrade to,
- start the process and submit.
Carbon Digital Business Account
The Carbon bank account for Business has more upgraded features compared to the personal account. Just as the name implies, “Business”, is designed for business owners providing any type of financial involvement in their businesses. For example, sales of products and services, subscription services, etc.
The Carbon Bank business account allows (business owner) you to integrate the Carbon business account into your business to enable your customers to pay swiftly.
In addition to the secured online payment solutions, Carbon Business account offers, through the APIs you can as well gain access to easy uncollateralized credit, reliable funds transfer, and fast KYC compliance obligations.
The Carbon business is a safe and fast payment solution, with consistently upgrading business features to enable your business to be at the top level you may not even have imagined.
How to Create Carbon Business Digital Bank Account
To get started, go to https://sme.getcarbon.co/, then click on “Create a Business Account” (or you can simply click here), and that will open the Carbon Business account registration form.
Complete the Carbon Optimus account registration form by filling in the correct data/information of your business.
Then log in to your email account (inbox) to access the message sent by Carbon, open the message and click on the link to verify your email.
Then a login page opens, which you’re supposed to re-login to complete your Carbon Optimus (business) account.
This time, you have the whole information about your business to provide, which includes the Business RC number, contact information, BVN, and the required business documents.
Carbon Digital Bank Account Sign Up for Free
The above session has shown the steps and requirements for signing up for a Carbon Bank account. The process is fast and easy to understand and follow.
Annoying things we noticed on Carbon Bank
- Unlink other top competitors of Carbon Bank, it’s stressful uploading files here on Carbon. You will notice missing counts of attempts trying to upload required files. The Carbon system is extremely poor at identifying uploads; whether through the Camera, PDF, or the upload from the gallery.
It is important they work on that because not everyone will have the patience to countlessly try to upload documents, especially when there are other best Online Banking platforms offering more efficient service when it comes to this challenge.
It might take you 1 week or more trying to upgrade your account due to the poor uploading system
- No single transaction will be allowed until your account is upgraded.
But come to think of it, considering the poor nature of file upload at Carbon, it should have at less allowed minor transactions like payment of bills (especially) to enable new users to generate a document(s) that it (Carbon Bank) has generated itself – maybe that won’t have problem uploading for account upgrade.
Best Carbon Bank Alternatives – Other Top Online Banking Accounts
There are still more Online (Digital) banking accounts you can trust, that are stable and consistent in their products and services. They also provide almost similar services to Carbon digital bank; this is why you can as-well regard it as a Carbon bank alternative or similar online banks.
Carbon Bank Support Contacts
Carbon is responsive in attending to submitted concerns, We hope to see it (carbon) remain consistent in this without backsliding in the future.
There are several ways to contact Carbon Bank; via email, app, and website – filling the support ticket.
- To contact Carbon via website; www.getcarbon.co:
Click on Help >> Contact >> Drop us a message.
- To contact carbon digital banking via the Carbon App:
by clicking on Accounts >> Support >> Contact customer support.
- Contact Carbon via email:
But is faster and more convenient for them to attend to cases via website and app. You might be redirected to those two options if you contact them via email.
Are there better online (digital) banking platforms you currently use that are better than the Carbon Bank or its best alternatives listed above?
Please, let us know through the comment box below.