ALAT by Wema vs Found.
ALAT by Wema (A75/100) and Found (F69/100), 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 Found 4-2.
| A ALAT by Wema №19 · CBN 75 /100 | F Found №39 · FDIC 69 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 69 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 3.00% | 1.00% |
| 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 | 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 | 4.7 ★ iOS 4.8 · And 4.6 |
| 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 Found if…
The tightest 1099-workflow loop in US neobanking — deposit lands → user-defined percentage auto-routes to a Taxes Pocket → quarterly tax estimator computes the federal liability → in-app federal payment closes the loop. Plus and Pro tiers add APY (1.50% capped at $20K / 2.50% uncapped) and Pro layers in 1% cashback on a metal debit card. Sponsor bank migrated from Piermont Bank to Lead Bank in October 2025 — legacy customers should verify their rails have moved.
- Best for fees Found 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 Found won 1 of 2
ALAT by Wema vs Found — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Found?
Under our v3 methodology, ALAT by Wema leads Found 4–2 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs Found 69/100. 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 Found cheaper?
Monthly fee — ALAT by Wema: €0; Found: €0. Card FX markup — ALAT by Wema: 3.00%; Found: 1.00%. Found 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 Found?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Found 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 Found?
ALAT by Wema operates in 1 country; Found 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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