stc Bank vs ALAT by Wema.
stc Bank (s76/100) and ALAT by Wema (A75/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. stc Bank leads ALAT by Wema 3-2.
| A ALAT by Wema №19 · CBN 75 /100 | s stc Bank №17 · SAMA 76 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 76 /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 | Full bank SAMA |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | €200,000 SA.SAMA-DPS |
| 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 | 4.5 ★ iOS 4.6 · 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 stc Bank if…
First SAMA-licensed digital full bank in Saudi Arabia (received bank licence 2023, originally launched as stc pay in 2017). Backed by Saudi Telecom (stc) — telecom-grade reach across the Kingdom. Multi-currency support and instant onboarding via Absher distinguish it from legacy KSA banks. SAMA Deposit Protection Fund cover.
- Best for fees stc Bank won 1 of 4
- Best for protection ALAT by Wema won 1 of 2
- Best for reach ALAT by Wema won 1 of 3
- Best for ux stc Bank won 1 of 2
stc Bank vs ALAT by Wema — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than stc Bank?
Under our v3 methodology, stc Bank leads ALAT by Wema 3–2 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs stc Bank 76/100. stc Bank 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 stc Bank cheaper?
Monthly fee — ALAT by Wema: €0; stc Bank: €0. Card FX markup — ALAT by Wema: 3.00%; stc Bank: 1.50%. stc 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 stc Bank?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. stc Bank holds a Full bank licence under SAMA; deposit guarantee per depositor: €200,000. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and stc Bank?
ALAT by Wema operates in 1 country; stc 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.
Want a 3- or 4-way comparison?
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