Frequently Asked Questions

Have questions about our service?

Carbon is an online service and does not operate via physical branches. This service is provided by One Finance & Investments Ltd (RC. 1044655), a licensed and regulated finance company.

The client ID is the unique number Carbon uses to identify you as its customer. Think of it as your identity number with us. It is displayed in the app just below your profile picture, sent via SMS when your loan is approved, and in all the emails Carbon sends to you. 

To successfully access a loan on Carbon the information related to your BVN must match with the information provided on your Carbon account.

How can I change my phone number registered on Carbon or rectify BVN phone number mismatch? 
You need to update the phone number related to your BVN with your current and active phone number then provide us with the printout of your BVN data page, showing (name, passport photo, date of birth, updated phone number, enrollment institution, enrollment branch and, NIN) via the app, email: customer@getcarbon.co 

How can I change my date of birth or rectify BVN date of birth mismatch on Carbon?
You need to update the date of birth-related to your BVN then provide us with the printout of your BVN data page, stamped and signed showing (name, passport photo, date of birth, phone number, enrollment institution, enrollment branch and NIN) and a valid government approved ID card (permanent voter’s card, permanent National ID card, International Passport or permanent driver’s license showing the same date of birth) via email: customer@getcarbon.co for further assistance.

Do not include your BVN in the comment section of our social media posts or to be publicly viewed by others.

How can I correct my Bank Verification Number?
We do not change or edit BVN that has more than two digits error on Carbon. Provide the printout of your BVN data page, showing (name, passport photo, date of birth, updated phone number, enrollment institution, enrollment branch and, NIN) via the app, email: customer@getcarbon.co

How can I change my rent?
Provide the receipt of the last rent expense via the app, email customer@getcarbon.co 

How can I change my residential address?
Provide a recent utility bill (PHCN, LAWMA, Water corporation etc.) to confirm your change of address via the app, email customer@getcarbon.co 

How can I change my employment status (Date/Income)?
Send your new employment letter and recent 3 months bank statement that shows your new netpay via the app, email customer@getcarbon.co If self-employed, unemployed, retired or students; provide a bank statement showing your income and business name via the app, email customer@getcarbon.co 

How can I request for a change of name?
Provide your newspaper publication, a printout of your BVN data page, court affidavit/marriage certificate, and government-approved ID card showing your updated information.

You need to update the phone number related to your BVN with your current and active phone number then provide us with the printout of your BVN data page, showing (name, passport photo, date of birth, updated phone number, enrollment institution, enrollment branch and, NIN) via the app, email: customer@getcarbon.co 

Why request for BVN?
We request your BVN as this is used to verify the provided bank account. This is to ensure that your details cannot be used to apply for a loan without your authorization in the event a 3rd party has access to your account details. 

NB: Your BVN does not provide access to your account. If in doubt, we encourage you to confirm this from your bank before you proceed.

How to check  your BVN
From your mobile device, dial *565*0#. This will only work if you are making the request from the phone number currently linked to your bank account.

How can I send you my BVN?
Always provide sensitive information like BVN either via our registered email address via the app, email customer@getcarbon.co 

Do not include your BVN in the comment section of our social media posts or to be publicly viewed by others.

We only accept valid government-approved identification cards and this includes:

    1. International passport 
    2. Permanent drivers license 
    3. Permanent voters card (PVC) 
    4. National ID card, plastic, and slip (NIMC)

Why request for my ID card

This is to enable us to further verify the information you provided us with during registration.

  1. An ID card with name, date of birth, and ID number mismatch.
  2. Expired ID card
  3. An Invalid ID card such as old national ID and temporary voters card
  4. The ID card is verified by the web host providers, not Carbon. If they are unable to validate the details provided, Carbon is unable to verify the information provided
  5. If the new cards have not been updated by the web host providers, it means the cards cannot be authenticated.

Ensure you do not leave the card setup page to check your inbox. You can simply check the content of the SMS verification bar on your phone. Also, ensure that your card is activated for online transactions. You can activate your card for online transactions at your bank.

Non-receipt of OTP

OTP (One Time Password) is generated and sent by your bank to the account holder before authorizing any transaction, not Carbon. Contact your bank for an OTP.

Do not share your OTP, PIN, and debit card details with any third party including Carbon staff.

Please contact us via the app or the email  customer@getcarbon.co 

A verification code is a six-digit PIN code that we use to verify your mobile number. This code is received during registration and can only be used once.

Why am I not receiving verification code?

    1. Ported line: If your mobile line has ever been ported from one mobile network to another, provide the phone number, the network the line was ported from, and to via email: customer@getcarbon.co   You can also send STOP to 2442.
    2. Activated DND (Do not Disturb): If your line is activated for DND by your mobile network, contact your network provided to deactivate your line from DND so you can receive SMS

Can my verification code be sent to my email address?

Verification code is only sent to the registered phone number on Carbon.

How can I reset my pin? 

Contact us via the app or via the email: customer@getcarbon.co 

How to get a Carbon loan
Download the Carbon app from your google play store OR the apple store, sign in or sign up to identify yourself and this will take you to our brief registration/application forms. Complete an application with valid information and click on “apply for loan”, then state how much you would like to borrow. We will then display your available loan offer in the app and you can view your expected repayment(s). Submit your application and we will typically notify you of the loan decision within minutes. To do so:http://goo.gl/aLhcFe (Android), https://apps.apple.com/us/app/carbon-by-one-finance/id1494856668?ls=1 (IOS). 

Loan  top-up
A loan top-up is accessing additional funds on a multiple instalment facility after paying a certain number of instalments on time for an extended period at the same rate.

How do I get a top-up?
You need to have a current loan within a 3- 6 months instalment and you must have paid for 2 months on time. Then, the top-up loan offer will be displayed to you in the app, at your current interest rate and loan tenor. However, you can only access a top-up loan once in a loan cycle.

Why can’t I get a top-up?

  • Your current loan is less than a 3 months tenor
  • You are yet to repay the 2nd instalment on your current loan
  • Your instalment repayments have not been on time

Starter credit Loan
Starter Credit is a 7-day, N2000 loan that gives users 100% cashback on their interest if the loan is repaid on time.

However, Starter Credit loans do not count towards loan progression. In other words, while you receive a cashback in the wallet, it will not increase the current maximum loan limit.

Cashback Loan
This is a feature in the Carbon app, where we provide 50% cashback on all 15 and 30-day loans that are repaid on time. Cashback is paid out to your wallet once the loan is repaid on time. 

The ‘Cashback’ tab on the loan offer screen which shows all loans a customer has eligible for cashback

Payroll Loan
This is accessible by salaried employees whose salaries are paid through REMITA. Complete an application with valid information and click on “apply for loan”, then state how much you would like to borrow. We will then display your available loan offer in the app, you can view expected repayment(s) alongside information requesting repayment to be made by the employer. Once the customer accepts these terms, a loan decision will be provided. 

For all prompt resolution of all Payroll debit/ refund inquiries. Please send a mail to payroll@getcarbon.co

We understand that financial circumstances can change suddenly and Carbon wants to support you through difficult times. If you would like to delay your repayment, we need to ascertain your eligibility. Kindly send us a mail: customer@getcarbon.co 

However, If you do not get a confirmation from a member of our team, before your scheduled payment date, then we request that you try to make your payment as agreed initially. 

Carbon provides flexible finance for SME. Register at https://smefinance.getcarbon.co/ and start your journey to accessible finance. 

Criteria
Applicable Sectors (for now): Retail, Agent Banking, Food Services, Health Services. 
Time in Business: 1+ years
Monthly Sales/Revenue: N1,000,000+
Location: Nigeria

How much can my business access via the SME loan?

SME loan amount ranges from N300,000 to N10,000,000 as a starter. However, you can access more than these amounts as a repeat client.

What is the interest rate on an SME loan?

The interest rate for SME loans is 5%.

How can I add a new debit card?

    1. Login to the Carbon application
    2. Click on the menu icon at the top left of your home page as shown below. 
    3. On the pop-up page, scroll down and select “Manage cards”. 
    4. Click on Add a new debit card/atm card. 
    5. Choose a card type (Mastercard, visa or verve card) 
    6. Enter card details: Card number – (16 digits for Master and Visa card, 19 digits for verve card), card expiry and security code (CVV)- last three number on the back of your atm/debit card below the magnetic strip/ black line 
    7. Input your card pin
    8. Enter OTP (One Time Password) sent to your mobile number registered with your bank.

OTP is generated by your bank, contact your bank for any OTP related issues.

How can I remove my saved debit card?

  • Login to the Carbon application. 
  • Click on the menu icon at the top left of your home page as shown below.
  • On the pop-up page, scroll down and select “Manage cards”. 
  • Click on remove debit card
  • Select the details of the debit card you will like to remove and click on remove
  • Be informed that you can only successfully remove a debit card if you do not have an active loan.

Can I set-up more than 1 debit card on Carbon?
At the moment, you can only add a maximum of 2 debit cards within a 30 day period.

Why is my card setup declined?
Card set up can be declined for several reasons including insufficient funds, card not enabled for web transactions, inputting incorrect information, and or using a card already registered to another Carbon customer.

How can I enable my debit card for online transactions?
Contact the card services unit of your bank to have your ATM card enabled for online transactions. Alternatively visit https://getcarbon.co/cardsetup or contact your bank for detailed instructions. 

Disabling recurring debit

Click on the transaction menu option (pay bill/recharge airtime/send money), then click on the ‘Saved’ tab, your recurring transactions will be shown. Select the transaction and stop the recurring payment.

When do we update your credit report?
We initiate our monthly credit report update to the credit bureaus on the 5th of every month. You can request a credit check after this date. 

Which of the credit bureaus do we report to?
We are obligated to submit all credit records/reports of all loan accounts (paid, active or late) with at least 2 of the credit bureaus in the country and they are:

First Central Credit Bureau (FCB): 14 Sumbo Jibowu, S.W Ikoyi Lagos State
Tel: +2348178377643. Email: info@firstcentralcreditbureau.com
website: http://firstcentralcreditbureau.com/ 

Credit Reference Company Credit bureau (CRC):    2nd Floor, 26 McCarthy Street,Onikan, 
Lagos, Nigeria. Tel: +2348072090622, Email: support@crccreditbureau.com
Website: https://www.crccreditbureau.com/ 

  

How can I increase my transfer limit?

To increase the transfer limit on Carbon, we will require you to provide a valid means of identification. 

This includes; International passport, Permanent drivers license, or Permanent voters card.

Bill Payment
If debited for a failed bill payment (Cable, Utility and so on) via your bank account (from the card registered on your profile) contact the card services unit of your bank 24 hours after, if no reversal was automatically done and fill a dispense error form for a possible reversal.

If your bill payment (Cable, Utility, and so on) is in progress for more than 24 hours, contact the Carbon customer success unit for further assistance.

If you do not get value (Recharge PIN, Token, and so on) for a bill payment 1 hour after a successful transaction, contact the Carbon customer success unit for further assistance.

If you do not get value (GoTV or Dstv) for a bill payment 1 hour after a successful transaction, contact GoTV or Dstv customer support for a possible upgrade or downgrade of your bouquet, as this may be the reason for non-connectivity

Airtime purchase (wrong number, incomplete number or incorrect number)

If debited for a failed airtime top-up via your bank account (from the card registered on your profile) contact the card services unit of your bank 24 hours after, if no reversal was automatically done and fill a dispense error form for a possible reversal.

If at any point you recharged a wrong number, incomplete number, or incorrect number. Contact your mobile network provider for further assistance, as we do not refund successful airtime purchases.

Failed repayments
If debited for a failed loan repayment via your bank account (from the card registered on your profile) contact the card services unit of your bank 24 hours after, if no reversal was automatically done, and fill a dispense error form for a possible reversal.

The  Carbon Score is our loyalty program for Carbon customers and it is dependent on factors including revenues, length of time using Carbon, transactions (sending money, paying bills, buying airtime), savings/investment attitude with Carbon, on-time loan repayment, referrals, etc. There are currently, four (4) score levels:

  • Legend
  • Elite
  • Premium
  • Basic

Now you can access Carbon without the internet using the code: *1303# to fund your wallet, buy airtime or send money.

  • For airtime to self – *1303*Amount# 
  • For airtime to others – *1303*Amount*Phone No# 
  • To transfer to Carbon Wallet – *1303*3*Amount*Phone No# 
  • To transfer to Bank Account – *1303*4*Amount*Acct No#

This is a service available in the Carbon app that allows you to keep track of your income and expenses and view them in categories so you learn exactly what you spend money on. 

It simply analyses the financial SMSs on the device your Carbon app is installed on and uses this to give you a detailed insight on your transactions.

Every time you refer a friend by sending your referral link from your Carbon app and the friend pays back on time, you get a referral bonus currently set N500.

Carbon Express is a keyboard-based solution that allows you to enjoy instant financial services like fund transfers, airtime, and bills payments within any conversation on your mobile device without having to leave your chat or launch another app.

It maintains the same highest level of security, military-grade encryption, authentication, and security models of Carbon’s other services, thereby guaranteeing the safety of all your transactions. A Carbon account is required to use this product. 

To get started, download Carbon Express via https://play.google.com/store/apps/details?id=co.getcarbon.carbon_express on your Android device.

You can now access up to N20,000 from Carbon if you get admitted to the hospital for more than 2 nights as a reward of being a loyal Carbon customer.

 

What do I do if I am in hospital for more than 2 nights?
You will pay your hospital bill as usual. When you are discharged from the hospital, take with you your admission and discharge forms, and any other documentation you were given during your stay.  Call AXA Mansard at 09062547772 and we will help you submit your claim in a rapid and convenient manner. You can also email the documents to ccare@axamansard.com with the title “Carbon Care Claim”. 

What hospitalisation events are covered?
All hospitalisations are covered, as long as you stay for at least 2 nights in the hospital.

How do I receive the payment of N20,000 for my hospitalisation?
AXA Mansard will pay you a fixed sum of N20,000 when you’ve stayed in hospital for 2 nights or more, into your Carbon account

What if I have another insurance coverage?

You can benefit from this insurance policy even if you have another insurance policy.

Do I have to invest N3000 each month? Or just have at least N3000 in a savings account?
You have to have a minimum of N3000 throughout the month. As long as you continue to leave a minimum of N3000 in your wallet/investment monthly, you will continue to qualify.

If I invest N3000, and then withdraw it, do I still get the benefit?
No, your N3000 minimum would have had to be invested for a whole month

Do I receive N20,000 per night in hospital?
AXA Mansard will pay a flat sum of N20,000 regardless of the length of your stay in hospital.  If you stay for 2 nights, we will pay you N20,000; if you stay for 4 nights (or any other amount), you will also receive a flat sum of N20,000.

What happens if I am hospitalised for just one night? Or for four nights?
Only hospitalisations of 2 nights or more are covered under this policy. You will receive a flat sum of N20,000 regardless of the length of your hospital stay of 2 nights or more.

I don’t have to stay overnight in the hospital but I still need treatment, do I get any benefits?
This policy only covers hospital stays of 2 nights or more.  AXA Mansard offers other health insurance plans which cover other health conditions, learn more at www.axamansard.com or call 09062547772

Are all health facilities covered, or do I have to go to an approved hospital?
This policy pays for a stay at any hospital licensed and in good standing with the Ministry of Health.

How many times am I entitled to this amount in a year?
You are entitled to 1 claim every 30 day period as long as far you have met all conditions to qualify for the cover, set by Carbon

Are loan defaulters who perhaps save with our wallet going to benefit from this?
To qualify, you must not have any loans in default, even if you save the minimum amount, a default would disqualify you

Will the benefit cover members of my family?
The benefit only covers the account holder; we expect to offer policies to cover family members at a later time. If you would like to cover your family with health insurance now, visit www.axamansard.com or call 09062547772

How much of the premium costs do I have to pay?
The premium is included in your account charges and benefits with Carbon; there is no separate premium to pay.

Are pre-existing conditions covered?
No, pre-existing conditions are not covered. Please refer to your policy document for list of exclusions 

How do I repay my loan? (all Methods)

We have made repaying your loan on Carbon as easy as possible.  On your due date(s), your payment will conveniently be deducted from the account linked to the debit/ATM card provided during your loan application. 

In-app: To make a payment to clear an active loan, click the ‘Make a Repayment’ button in the app. This can be found under the ‘Your Loans’ menu section. Enter the card details to be used for repayment and your account is immediately updated, once payment is successful. 

Fund wallet: You can fund your Carbon wallet to repay your loan. To fund your wallet, do initiate a funds transfer from your bank’s mobile app to your Carbon wallet by selecting One Finance as the name of the bank and your wallet ID as your account number. The minimum amount you can fund your wallet with is N100. Once your wallet is funded, launch your app, in the menu section, select ‘your loans’, then click the ‘make a repayment’. Select your wallet as the means of repayment and your account is immediately updated, once payment is successful. 

Quickteller: Visit www.quickteller.com/onecredit select Paylater, enter your details. Ensure you enter your client ID and other details accurately. Enter your card details and confirm the transaction. Your account will automatically be updated within minutes. 

Direct Transfer: A direct transfer can also be made, send a mail to customer@getcarbon for account details, include your full name and client ID () on the transfer details, and notify us immediately you make a repayment. 

Repayments made via cash transfers are typically updated on our platform within 1 – 2 business days.

PayVest is Carbon’s investment platform that helps you put away funds and grow your wealth in a secure and transparent manner.

Types of Payvest
Fixed deposit;
qualifying investment amounts ranging from ₦50,000 to ₦10,000,000, interest rate ranging from 14 -15.5% annualized and available investment tenors are 3, 6, 9 or 12 months.

One time Investment; here you can invest as little as ₦100 to ₦10,000,000  and available investment tenors range from 28days to 366days, annualized interest rate is 10% for unlocked and 11.5% for locked investment

Periodic Investment; This allows scheduled investment either daily, weekly, or monthly with amounts ranging from ₦100 to ₦10,000,000 at 12% for unlocked and 13% for locked investment annualized. 

How can I invest?

Log into your app, on the menu page, select Investments, then select invest now.

Click on the investment plan of choice (fixed deposit, one-time or periodic investment

Input the amount you want to invest, duration, and then proceed.

Follow the prompt to fund your investment either via the funds in your wallet or via your bank account by selecting your debit card details.

Can I have more than one investment plan?
Yes, at any point in time, you can create up to 5 (five) investment plans in your Carbon app.

Can I liquidate my investment at any time?
Yes, you can liquidate your investment at any time. Also, liquidating your investment before maturity may cost you the accrued interest.

How do I monitor my investment(s)?
With PayVest, it’s extremely easy to have full visibility on how your investments are growing. The app will always show you real-time information on your current earnings.

Will my investment be affected if I liquidate my investment before maturity?
Your investment will not be affected as you will be paid back your principal investment. However, interest is earned quarterly for Fixed deposits. If you make a withdrawal of an investment before interest has been earned, you will forfeit any interest accrued for your Fixed deposit investment. As such, we recommend holding your investment until maturity to earn your full interest.

Withholding tax on investment.
There is a 10% Withholding tax on all interest accrued on every investment on Carbon

How is my money protected?
As with everything else on the Carbon service, security is guaranteed.

PayVest investments are protected and always available for withdrawal, anytime you wish. Your funds are safe as they are managed by One Finance and Investments Limited (RC No: 1044655), which is licensed and regulated by the Central Bank of Nigeria.

How to liquidate invested funds?
Tap on the menu at the top left of your Carbon app, tap on investment, select the desired investment you would like to liquidate, tap on the three dots at the top right of your Carbon app and tap liquidate.

Wallet ID 
Your wallet ID is your unique account number required to fund your wallet via mobile banking app transfer.To view your wallet ID on the Carbon app, click on the fund wallet, and select via bank transfer. Your wallet ID will be displayed on your app.

How to find your wallet ID number
To find your wallet ID number, kindly follow these steps: Login >> Fund Wallet >> Fund with bank transfer >> Copy Wallet ID/Account Number. (Android)

To find your wallet ID number, kindly follow these steps: Login >> Fund Wallet  >> Copy Wallet ID/Account Number. (IOS)

How can I fund my wallet?
Funds transfer:
Initiate a funds transfer from your bank’s mobile app to your Carbon wallet by selecting One Finance as the name of the bank and your wallet ID as your account number.

Debit card:  Login to your Carbon app, click on fund wallet, select fund with debit/ATM card, input the amount, and follow the prompts to fund your wallet. 
There is a 1% transaction charge for wallet top-up via this method.

Is there an interest in funds saved in my Carbon wallet?
There is a 4% annualized interest on the cumulative funds saved in your wallet paid out on the 1st of every month.

How to get my wallet statement?
To get your wallet statement showing all your transactions (debit and credit).

Simply select Transactions from your Carbon home page then Get statement at the bottom of the transaction page. 
Select the desired date range, click proceed then Get statement.
You will receive your wallet statement within minutes in your registered email address.

Wallet transfer
Select ‘withdraw’, enter your bank account number, select bank name, enter the amount you want to send (there is a transfer charge of #10.00) for wallet transfer, select NEXT, select ‘ Securely Pay then input your Carbon pin to confirm payment.

Failed wallet Top-up
If debited when attempting to top-up your Carbon wallet via your ATM card but the said transaction failed, contact the card services unit of your bank after 24 hours if no reversal was automatically done and fill a dispense error form for a possible reversal.

If debited while attempting to fund your wallet via direct bank transfer from your bank and your wallet does not get funded within 3 hours. Contact the sending bank or institution for further assistance.

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