Onboarding
How do I create a Carbon Business Account?
To register for a Carbon Business Account:
Log in to the Carbon Business App or visit our website.
Click on "Create Account" and follow the prompts to complete the registration.
Use our visual guide for step-by-step assistance.
What are the types of accounts?
Flex Account
Pro Account
What are the requirements?
For a flex account:
CAC Certificate
Utility Bill
A valid ID and BVN of at least one director or partner.
For a pro account:
(as a sole proprietorship)
Business Name Registration Certificate
Status Report or Business application form
Valid Identification (BVN and National ID Card/NIN Slip) for proprietors and authorized signatories
Tax Identification Number (TIN)
Proof of Address (e.g., utility bill, lease agreement)
(as a registered Company (Ltd, Plc)
Certificate of Incorporation
Memorandum & Articles of Association
Status Report or Business application form (or Form CO2 & CO7)
Valid Identification (BVN and National ID Card/NIN Slip) for directors and authorized signatories
Company’s Tax Identification Number (TIN)
Proof of Address (e.g., utility bill, lease agreement)
(as a non-governmental organization (NGOs))
Certificate of Incorporation/Registration with CAC
Certified True Copy of the NGO’s Constitution
Board Resolution signed by the Chairman & Secretary authorizing the account opening
Valid Identification (BVN and National ID Card/NIN Slip) for trustees and authorized signatories
Passport photographs of trustees and authorized signatories
Tax Identification Number (TIN)
Proof of Address (e.g., utility bill, lease agreement)
Evidence of Regulatory Compliance, such as a SCUML certificate (if applicable)
Acceptable Proof of Address Documents:
The document must correspond with the address on your account and be dated within three months. Acceptable documents include:
Internet/Phone statement
Bank Statement
Waste Management Bill
Electricity Bill
Water Bill
Tax Assessment Letter
Letter from the Government
Tenancy/Lease agreement and rent receipt (has to be provided together)
If you encounter any issues or need further assistance, please send an email to sme@getcarbon.co, and we will be happy to assist you.
How do I upload documents via the app?
Click on "Attention" in the app.
Upload the required documents as prompted.
Click "Next" and then "Submit" to complete the process.
What happens after I upload my documents?
Our team will review the documents. If any additional information is required, we will contact you via your registered email address.
How long does it take for my account to be verified?
Account verification usually takes 24 hours. You will receive a confirmation via the app and email once the process is complete.
How do I create a sub account? For a step-by-step video guide, watch here How to Create a Sub-Account
Log in to your Carbon Business Account.
Navigate to the Subaccounts section.
Click on "Create Subaccount" and follow the prompts.
Set up the subaccount details and confirm the creation.
What is the default subaccount limit?
The default limit is 5 subaccounts per business account.
How can I increase my subaccount limit?
Send a written request to our support team, specifying the number of additional subaccounts needed.
Our team will call you to verify your request.
Once verified, we will update your subaccount limit accordingly.
How long does it take to process a subaccount limit increase?
Processing time depends on how quickly the written request is received and verified. Typically, it should be completed within 24–48 hours after verification.
Do Sub-Accounts have different signatories?
Why is there a charge to move funds between Carbon Main and Sub Account?
There is no charge for moving funds between your Main and Sub business accounts. Since it is a Carbon-to-Carbon transfer, it is completely free.
What’s Pro Subscription?
The Pro Subscription is a paid upgrade plan on Carbon Business. By subscribing, you’ll unlock advanced features such as higher transaction limits, multiple sub-accounts, invoicing, split inflows, and team banking.
To activate Pro plan, simply complete your subscription payment and submit the required documents. Once payment and compliance checks are confirmed, your account will be upgraded to Pro.
My Carbon Business account has been downgraded from PRO to FLEX. How can it be upgraded back to Pro account?
We recently introduced a Pro Subscription fee, and as a result, all accounts on PRO were temporarily downgraded to FLEX. Once your subscription payment is made and your documents are confirmed by our compliance team, your PRO status will be restored.
Is it possible to receive and confirm a transaction alert on Carbon and later money reversed back to the sender?
It is very rare for a transaction to be reversed once it shows as successful. A successful alert means the funds have already left the sender’s bank and been credited to your account.
In uncommon cases, the sender’s bank may recall the funds or a processing issue may occur. If this happens, you will see the reversal reflected in your account.
Is there a way to lock funds for a period of time?
The Business app does not currently have a fund lock feature. This option is only available on the personal Carbon app through savings and fixed deposits.
Carbon business account is locked due to multiple login attempts with the wrong password. Could you re-open it so I can reset my password?
To protect your account from fraudulent access, we temporarily lock accounts due to multiple incorrect login attempts. The lock will automatically clear in 10 minutes. After this time, please try logging in again with your correct password, or simply tap "Forgot password" to reset your details.
Can I make referrals from a Business account?
While referral bonus is currently not available, you can refer businesses by sharing the Carbon business app/web link with them.
I made a mistake while writing my company name. I omitted an alphabet. How can I correct it?
If it is just a single letter omission, we will provide you with the corrected company name as it appears on the CAC portal. You can either accept this correction or, if you’d prefer a different update, please contact support with your CAC document so we can make the change for you.
I am unable to add my bank statement to my business account: “An error occurred while fetching bank statement. Kindly check your entry and try again.” Please assist.
If you are unable to upload your other bank statement, you can select the option to use your Carbon statement instead. Afterwards, please send your preferred bank statement directly to sme@getcarbon.co so our team can help process it.
Loans
What types of loan packages do we have?
Flex
SME
Why do I need a Carbon Business Account to apply for a loan?
A Carbon Business Account is required to apply for a loan, ensuring your business is registered within our system for eligibility assessment.
What types of businesses qualify for SME loans?
Sole proprietors
Limited liability companies (LLC)
What is the maximum loan amount for an SME Loan?
NGN 9.5 Million
What is the maximum loan amount for a Flex Loan?
NGN 100,000 for Sole Proprietorship and NGN 150,000 for limited liability companies
What are the interest rates and repayment terms?
For new SME customers, the interest rate is 5.5% monthly, with a repayment term of 3 months.
For repeat SME customers, 5% monthly with a repayment term of 3-6 months.
For Flex customers (new and repeat), the interest rate is 6% monthly and the tenure is 1 month.
Are there processing fees?
Yes, a 1% management fee, is deducted upfront from the loan amount. Interest is calculated on the original loan amount.
Do I need collateral?
No
What documents are required for a loan application?
A bank statement after successful onboarding.
How long does loan approval take?
If all necessary documents are in order, approval can be completed within 30 minutes.
How do I repay my loan?
Repayments can be made by funding your Carbon SME account before the due date. We also facilitate direct deductions through Remita.
Are there penalties for late repayment?
Yes, a daily penalty fee is charged on the principal amount due. Missing payments may also affect your credit history.
Can I extend my loan repayment term?
No
How do I reset my password?
Open the Carbon Business App.
Click on "Reset Password".
Enter your registered email address.
An OTP will be sent to your email.
Use the OTP to reset your password and regain access to your account.
What should I do if I don’t receive the OTP?
Check your spam/junk folder.
Ensure you entered the correct registered email address.
Wait a few minutes and try resending the OTP.
Contact support if the issue persists.
Why am I unable to transfer or fund my Carbon Business Account?
Your account may be temporarily locked for compliance review.
An account number may not have been generated.
There could be a network issue affecting transfers.
Transfer Limit
How can I increase my transfer limit on a Flex account?
Submit the following documents:
All pages of your Status Report from CAC
Tax Assessment Certificate or Letter
Once received and approved, go to the Account section of the app and submit the indemnity form.
How can I increase my transfer limit on a Pro account?
Navigate to the Account section of the app.
Fill out the indemnity form, specifying the exact upgrade amount.
The maximum daily limit is ₦250,000,000.
How long does it take to process a transfer limit increase?
It depends on the accuracy of the submitted documents. Ensure all documents are clear and complete to avoid delays.
How do I generate my account statement?
Log in to your Carbon Business Account.
Click on "Accounts" and select "Statement". You can select multiple accounts (both main and sub-accounts) for a comprehensive view.
Choose the date range for your statement.
Click on "Get Statement".
Your statement will be sent to your registered email address
Sending, tracking, and getting paid is easier than ever with Carbon Business. Follow these steps to create and send an invoice in just a few simple steps:
Log into your Business Account.
Navigate to ‘Invoice’ under the Business Section in your dashboard.
Click ‘New Invoice’ to start creating a fresh invoice.
Enter your payment and business details.
Need a unique invoice number? Use our integrated AI personal assistant to generate one for easy tracking.
Click Create—your invoice is ready to go and can be sent directly to your customer’s inbox.
That’s it! Creating invoices has never been this easy.
A few clicks and you’re one step closer to getting paid. Get paid faster, get paid smarter—start sending invoices today with Carbon Business!
For a step-by-step video guide, watch here: How to Create and Send an Invoice
Carbon Business BAAS is a virtual account infrastructure that enables businesses to streamline collections, payouts, and real-time transaction tracking without traditional banking complexities.
It’s designed for e-commerce platforms, lending services, digital marketplaces, and any business that needs fast, seamless, and automated financial transactions.
✅ Instant virtual account creation for customers & vendors
✅ Real-time tracking of all transactions via API or dashboard
✅ Instant fund transfers between virtual accounts
✅ Automated payouts to external bank accounts
✅ Comprehensive financial reporting for better decision-making
✔ 90% increase in successful payments for e-commerce platforms
✔ Loan disbursement time reduced from 2 days to under 30 minutes
✔ 5,000+ vendors receiving automated payouts seamlessly
📩 Contact us at sme@getcarbon.co or visit www.getcarbon.co to learn more and integrate Carbon Business BAAS into your operations.
What is Multi-Account Management?
It’s a single dashboard that gives you complete control over all your business accounts.
How does it work?
You can add, switch, and manage multiple accounts instantly without logging in and out.
Can I use the same phone number for multiple businesses?
Yes, you can use the same phone number across multiple business accounts.
Who can access this feature?
This feature is available exclusively for Business Pro accounts.
What are the benefits?
Everything is in one place—simplifying management without any extra steps.