ALAT by Wema vs Penta.
ALAT by Wema (A75/100) and Penta (P61/100), 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 Penta 6-2.
| A ALAT by Wema №19 · CBN 75 /100 | P Penta №49 · BaFin 61 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 61 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €9 /mo |
| 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 BaFin |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | Safeguarded No DGS |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | Yes | No |
| UX | ||
| Trustpilot Customer score | — | 3.2 ★ 0k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.4 · And 4.5 | 4.1 ★ iOS 4.2 · And 4.0 |
| 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 Penta if…
The German SME-focused partner-bank neobank with the deepest DATEV-first workflow in the category. Customer deposits sit at Solaris Bank AG (BaFin-licensed credit institution) with DGS pass-through cover — structurally distinct from EMI-licensed Tide / Finom / Anna / Holvi. The structural fit for German GmbH / UG companies needing DGS-protected operating cash plus DATEV / Lexoffice / sevDesk integration depth without Qonto's freelancer-tier UX baggage.
- Best for fees Tied
- Best for protection ALAT by Wema won 2 of 2
- Best for reach ALAT by Wema won 1 of 3
- Best for ux Tied
ALAT by Wema vs Penta — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Penta?
Under our v3 methodology, ALAT by Wema leads Penta 6–2 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs Penta 61/100. 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 Penta cheaper?
Monthly fee — ALAT by Wema: €0; Penta: €9. Card FX markup — ALAT by Wema: 3.00%; Penta: 1.00%. Tied across fee rows. See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, ALAT by Wema or Penta?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Penta holds a Partner-bank licence under BaFin; deposit guarantee per depositor: Safeguarded. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Penta?
ALAT by Wema operates in 1 country; Penta 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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