ALAT by Wema vs Vivid Money.
ALAT by Wema (A75/100) and Vivid Money (V62/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Vivid Money leads ALAT by Wema 6-3.
| A ALAT by Wema №19 · CBN 75 /100 | V Vivid Money №47 · Electronic money institution authorisation in Luxembourg; MiFID II investment firm licence in Netherlands; MiCAR authorisation for crypto-asset services 62 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 62 /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 | — | €200 /mo |
| Protection | ||
| Banking licence Tier | Full bank CBN | E-money inst. |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | Safeguarded EU.DGS.DE |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 5 countries |
| Crypto Coins available | No | 300 coins |
| Stocks & ETFs Self-directed | Yes | Yes |
| UX | ||
| Trustpilot Customer score | — | 4.2 ★ 8k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.4 · And 4.5 | 4.5 ★ iOS 4.5 · 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 Vivid Money if…
Pick if cashback on cards matters more than regulatory depth or rich product breadth.
- Best for fees Vivid Money won 2 of 4
- Best for protection ALAT by Wema won 2 of 2
- Best for reach Vivid Money won 2 of 3
- Best for ux Vivid Money won 2 of 2
ALAT by Wema vs Vivid Money — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Vivid Money?
Under our v3 methodology, Vivid Money leads ALAT by Wema 6–3 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs Vivid Money 62/100. Vivid Money 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 Vivid Money cheaper?
Monthly fee — ALAT by Wema: €0; Vivid Money: €0. Card FX markup — ALAT by Wema: 3.00%; Vivid Money: Interbank. Vivid Money wins more fee rows (2 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 Vivid Money?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Vivid Money holds a E-money inst. licence under Electronic money institution authorisation in Luxembourg; MiFID II investment firm licence in Netherlands; MiCAR authorisation for crypto-asset services; deposit guarantee per depositor: Safeguarded. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Vivid Money?
ALAT by Wema operates in 1 country; Vivid Money 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?
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