Carbon review

No maintenance fee is charged on the card, and the monthly fee for the standard account is NGN 0. That puts Carbon at the free end of the debit card market, where the site median monthly fee is €0.

It is a debit card, so spending comes directly from the money in the account rather than from a borrowing facility. Nothing is repaid monthly and no interest accrues on card purchases.

The card runs on a local network, so it is accepted at local terminals across Nigeria. Local networks are a small share of the cards compared here, at 2.7%.

Carbon is licensed in Nigeria by the Central Bank of Nigeria (CBN), the country's banking regulator. Because the provider is a bank entity, Carbon Microfinance Bank, deposits sit with a regulated institution rather than a fintech intermediary.

The card is built for a local network at home, so it is a poor fit for foreign spending. Travel-focused cards make up a large share of the market here, at 47.4%, and they suit multi-currency use better.

The card is issued by Carbon Microfinance Bank, a bank that was founded in 2012 and is headquartered in Nigeria. The business was set up to serve customers who had no access to a conventional bank account.

The facts describe a debit card for everyday spending with a monthly fee of NGN 0, so it works for personal day to day use. Business-focused cards form a large part of the market compared here, at 64.5%.

The facts do not set out a free ATM withdrawal allowance, so the cost of withdrawing cash should be checked with the bank before you rely on it. Across the debit cards compared, the median free allowance is €0.