ALAT by Wema vs Opay.
ALAT by Wema (A75/100) and Opay (O58/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. A close tie.
| A ALAT by Wema №18 · CBN 75 /100 | O Opay №45 · CBN 58 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 58 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 3.00% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank CBN | E-money inst. CBN |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | Safeguarded NG.NDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 5 countries |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | Yes | Yes |
| UX | ||
| Trustpilot Customer score | — | 1.5 ★ 5k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.4 · And 4.5 | 4.5 ★ iOS 4.4 · And 4.5 |
| 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 Opay if…
Largest Nigerian mobile-money + neobank hybrid by user count (~50M+). Saudi Aramco-affiliated investor backed. OBank subsidiary holds the bank licence; OPay wallet sits on top. Aggressive cross-EM expansion (Egypt, Pakistan announced). The Nigerian mobile-money rail leader.
- Best for fees Opay won 1 of 4
- Best for protection ALAT by Wema won 2 of 2
- Best for reach Opay won 1 of 3
- Best for ux Opay won 1 of 2
ALAT by Wema vs Opay — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Opay?
ALAT by Wema and Opay are tied 3–3 across 12 dimensions under our v3 methodology. Composite scores: ALAT by Wema 75/100 vs Opay 58/100. The right pick depends on which dimension you weight most heavily.
Is ALAT by Wema or Opay cheaper?
Monthly fee — ALAT by Wema: €0; Opay: €0. Card FX markup — ALAT by Wema: 3.00%; Opay: Interbank. Opay 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 Opay?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Opay holds a E-money inst. licence under CBN; deposit guarantee per depositor: Safeguarded. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Opay?
ALAT by Wema operates in 1 country; Opay operates in 5 countries. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.