- Login to your Carbon business account. The first page on your screen is compliance, follow these instructions
Board resolution - Click to approve
Reference - Invite two references
Business legal search (NGN5,200) - Pay fee now
By completing your compliance, your payout limit will increase to NGN 10,000,000 and you can make further requests to increase even higher.
6. How much can I send out at a time?
1. How can I send money from my Business Account?
Navigate to the "Send Money" section, select a transfer type (Single, Bulk, Sub Account ), and follow the steps to initiate a transfer and confirm the transaction.
2. Are there any fees?
A NGN 50.00 fee applies on every payout/outgoing transaction.
And a stamp duty of NGN 50.00 applies on every incoming transaction above NGN 10,000.
3. What is the transfer processing time?
1. How can I use the Cashflow Manager on the portal?
The Cashflow Manager is accessible in the portal's main menu. Use it to categorize expenses, track income, and gain insights into your business's financial health. Set expense categories and manage your cashflow effectively.
2. Can I export Cashflow Manager data for analysis?
1. How can I initiate bulk transfers on the portal?
2. What information is required for bulk transfers?
1. How can I set up scheduled payments on the portal?
In the "Scheduled Payments" section, select the account, specify the payment details, and set the schedule for recurring payments. Confirm the scheduled payments to activate them.
2. Can I edit or cancel a scheduled payment?
Yes, you can edit or cancel a scheduled payment before the scheduled date. Navigate to the "Scheduled Payments" section, locate the payment, and choose the desired action.
1. How can I access my statement of accounts on the portal?
2. How frequently are statements generated?
1. What are the eligibility requirements to open a business account?
Business information (Certificate of registration, proof of address, etc)
Directors information
Government issued IDs (NIN, BVN, etc)
2. Will Carbon ask for my BVN?
Yes, we need it to confirm who you say you are.
3. How long does it take for my account to be verified?
It may take up to 24 hours.
Security:
1. How do I change my carbon business password?
Click Profile
Tap on account settings
Change Password
2. Can I sign into Carbon business with my carbon login details?
What is the minimum account balance?
Team Banking:
What is Team Banking on Carbon Business Bank?
What user roles are available in Team Banking?
-INITIATOR AND APPROVER,
-APPROVER ONLY
-INITIATOR ONLY,
-VIEW ONLY
Who can add team members to a business and assign these roles?
What actions can an INITIATOR ONLY role perform in Team Banking?
What actions can an APPROVER ONLY role perform in Team Banking?
What actions can an INITIATOR AND APPROVER role perform in Team Banking?
A team member with this role can both approve transactions requiring approval and initiate transactions without needing approval.
The owner of the account has an INITIATOR AND APPROVER role and has access to all the sections of the application
Do all team members have access to every section of the application?
No, team members do not have access to all sections of the application. Only the owner has access to all sections. Access to specific tabs, including Compliance, Loan, Team, Referral and the Account settings section under the Account tab, is restricted to the owner and unavailable to team members regardless of their individual role.
Can I delete a Team member?
* Interesting to note that Carbon Business alo has a referral program, please find details below:
1. What is the Carbon Business Banking Refer and Earn Program?
The Carbon Business Banking Refer and Earn Program allows existing customers and affiliate marketers to earn rewards by referring new customers to Carbon business banking services. Existing users can share a unique referral link or code with potential customers, while affiliate marketers can promote Carbon using a specific affiliate code.
2. Who can I refer to Carbon Business Banking?
You can refer any business owner or individual interested in utilizing business banking services. There are no restrictions on the type or size of the business.
3. What do I earn for referring new customers?
NGN 25,000. The businesses you refer will also earn NGN 25,000.
4. When will I receive my referral rewards?
Rewards are usually credited to your Carbon account or affiliate account within a specified period after the referred business has met the qualifying criteria. This period and the criteria will be detailed in the terms and conditions of the program.
5. Is there a limit to how many businesses I can refer?
No, there is no limit. You can refer as many businesses as you like and earn rewards for each qualified referral.
6. Can I track the status of my referrals?
Yes, you can track the status of your referrals through your Carbon account under the Refer and Earn section. For affiliates, this information will be available on your affiliate dashboard.
7. What happens if my referral or affiliate link/code is not used correctly?
If a referral or affiliate link/code is not used properly, the referral may not be attributed to your account. Ensure that your referrals use your unique link or code when signing up. If there are issues, please contact our support team for assistance.
8. Are there any terms and conditions I should be aware of?
Yes, participants are advised to review the full terms and conditions of the Refer and Earn program, available on the Carbon website. These terms cover eligibility, reward calculations, legal considerations, and other important information regarding the program.
SME Loans
What types of businesses qualify for SME loans from Carbon Business Banking?
What is the maximum loan amount I can apply for?
What are the interest rates and repayment terms for SME loans?
Do I need collateral to secure an SME loan?
What documents do I need to submit for a loan application?
How long does it take to get approved for an SME loan?
Can I use the loan for any business purpose?
Do I need a business plan to apply for a loan?
Can I apply for a loan online?
What happens after I submit my loan application?
After submitting your loan application, the decision-making process will commence. You will be notified once a decision is made.
If approved, you will receive an offer notification. In the event of a decline, you will be informed of the decision as well.
How do I make loan repayments?
Are there any prepayment penalties?
What happens if I miss a loan payment?
14. Can I extend the loan repayment term?
Currently, we do not offer extensions on SME loan repayment terms.