Carbon: USSD Code, Transfer Charges, SWIFT Code & Rates
Digital bank · Carbon · ₦2M NDIC coverage
Best for instant loans — approved in minutes, no collateral. Carbon Invest too.
Originally PayLater. Instant loans up to ₦1M approved in minutes. Carbon Invest for treasury bills. Licensed MFB — ₦2M NDIC coverage.
Carbon is a Digital bank (CBN-licensed, NDIC-insured) founded in 2016 (10 years ago), operated by Carbon Nigeria. As of 2026 it serves approximately 2M+ customers.
- Founded
- 2016 · 10 years serving Nigerians
- Parent company
- Carbon Nigeria
- Customer base
- 2M+
- Bank type
- Digital bank (CBN-licensed, NDIC-insured)
- Website
- carbon.ng
- Address
- Plot 1 Ojomu Anifowoshe Estate, Ikeja, Lagos, Lagos
If you make 20 transfers, 4 other-bank ATM visits, and 30 SMS alerts per month:
This is the cheapest of the tracked banks at this usage pattern.
Compare with all 23 banks →Time to open: 3 minutes · Online via app
- BVNBank Verification Number. Get one at any bank branch if you don't have one.
- Nigerian phone numberFor OTP verification during signup.
- Live selfieFacial verification — matched against BVN photo.
Carbon started as a lender and evolved into a bank. Its scoring model uses transaction history, credit repayment, and behavioural data.
Carbon operates under a CBN Payment Service Bank licence with deposit-taking and payments authority.
Carbon integrates all common Nigerian bill payments (DSTV, GOtv, PHCN, LAWMA) with cashback offers.
Carbon Pay allows online purchases split across 4 monthly instalments at select merchants.