ALAT by Wema vs Cash App.
ALAT by Wema (A75/100) and Cash App (C70/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Cash App leads ALAT by Wema 5-3.
| A ALAT by Wema №19 · CBN 75 /100 | C Cash App №31 · FDIC 70 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 70 /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 | Partner-bank FDIC |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | $250,000 US.FDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 2 countries |
| Crypto Coins available | No | 1 coins |
| Stocks & ETFs Self-directed | Yes | Yes |
| UX | ||
| Trustpilot Customer score | — | 1.6 ★ 50k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.4 · And 4.5 | 4.8 ★ iOS 4.8 · And 4.7 |
| 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 Cash App if…
The largest US peer-to-peer payments + neobank hybrid by user count (~50M monthly actives). Block-owned, public via NYSE:XYZ. Bitcoin-native — was the first major US fintech to integrate BTC buy/sell. Partner-bank model via Sutton Bank means FDIC pass-through, not direct charter cover.
- Best for fees Cash App won 1 of 4
- Best for protection ALAT by Wema won 2 of 2
- Best for reach Cash App won 2 of 3
- Best for ux Cash App won 2 of 2
ALAT by Wema vs Cash App — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Cash App?
Under our v3 methodology, Cash App leads ALAT by Wema 5–3 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs Cash App 70/100. Cash App 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 Cash App cheaper?
Monthly fee — ALAT by Wema: €0; Cash App: €0. Card FX markup — ALAT by Wema: 3.00%; Cash App: Interbank. Cash App 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 Cash App?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Cash App holds a Partner-bank licence under FDIC; deposit guarantee per depositor: $250,000. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Cash App?
ALAT by Wema operates in 1 country; Cash App operates in 2 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.