ALAT by Wema vs ila Bank.
ALAT by Wema (A75/100) and ila Bank (i50/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. ALAT by Wema leads ila Bank 5-1.
| A ALAT by Wema №19 · CBN 75 /100 | i ila Bank №74 · ila Bank is the digital retail brand of Bank of Bahrain and Kuwait 50 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 51 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 3.00% | 1.50% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank CBN | Payment inst. |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | Safeguarded BH.DCS |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | Yes | No |
| UX | ||
| Trustpilot Customer score | — | — |
| App store iOS + Android avg | 4.5 ★ iOS 4.4 · And 4.5 | 4.2 ★ iOS 4.3 · And 4.1 |
| Read review → | Read review → | |
Pick ALAT by Wema if…
Nigeria's first fully-digital bank — launched 2017 as a digital arm of Wema Bank (NGX-listed, CBN-licensed since 1945). Operates under the parent's full-bank licence (so NDIC ₦5M cover applies, vs. the ₦2M microfinance ceiling that Kuda + OPay sit under). Strongest domestic savings rate ladder in NG (up to 12% on goal-locked tenures).
Pick ila Bank if…
Digital retail brand of Bank of Bahrain and Kuwait (BBK B.S.C., Bahrain Bourse: BBK) — one of the GCC's oldest commercial banks (founded 1971). Launched November 2019 as Bahrain's first fully-digital retail bank. CBB Conventional Retail Bank licence sits at the BBK parent; ila is a brand inside that charter, not a separately licensed entity. Bahrain DPS cover BHD 20,000 per depositor flows via the parent licence under CBB Rulebook Volume 6. Conventional banking; for Sharia products from the same group, see KFH Bahrain (separately licensed Islamic bank).
- Best for fees ila Bank won 1 of 4
- Best for protection ALAT by Wema won 2 of 2
- Best for reach ALAT by Wema won 1 of 3
- Best for ux ALAT by Wema won 1 of 2
ALAT by Wema vs ila Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than ila Bank?
Under our v3 methodology, ALAT by Wema leads ila Bank 5–1 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs ila Bank 50/100. ALAT by Wema is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is ALAT by Wema or ila Bank cheaper?
Monthly fee — ALAT by Wema: €0; ila Bank: €0. Card FX markup — ALAT by Wema: 3.00%; ila Bank: 1.50%. ila Bank wins more fee rows (1 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, ALAT by Wema or ila Bank?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. ila Bank holds a Payment inst. licence under ila Bank is the digital retail brand of Bank of Bahrain and Kuwait (BBK B.S.C.) — CBB Conventional Retail Bank licence held at the BBK parent. CBB Rulebook Volume 6 Deposit Protection Scheme cover up to BHD 20,000 per depositor per institution; ila and BBK aggregate against one ceiling because they are the same legal entity. Verify the current DPS ceiling on cbb.gov.bh.; deposit guarantee per depositor: Safeguarded. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and ila Bank?
ALAT by Wema operates in 1 country; ila Bank operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
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