ALAT by Wema vs Wise.
ALAT by Wema (A75/100) and Wise (W68/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Wise leads ALAT by Wema 4-3.
| A ALAT by Wema №19 · CBN 75 /100 | W Wise №42 · FCA 68 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 68 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 /mo |
| 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. FCA |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | Safeguarded GB.FSCS |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 160 countries |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | Yes | Yes |
| UX | ||
| Trustpilot Customer score | — | 4.3 ★ 220k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.4 · And 4.5 | 4.5 ★ iOS 4.7 · And 4.2 |
| 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 Wise if…
Pick if FX and multi-currency receiving accounts dominate your usage — not for stocks or crypto.
- Best for fees Wise won 2 of 4
- Best for protection ALAT by Wema won 2 of 2
- Best for reach Wise won 1 of 3
- Best for ux Wise won 1 of 2
ALAT by Wema vs Wise — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Wise?
Under our v3 methodology, Wise leads ALAT by Wema 4–3 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs Wise 68/100. Wise 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 Wise cheaper?
Monthly fee — ALAT by Wema: €0; Wise: €0. Card FX markup — ALAT by Wema: 3.00%; Wise: Interbank. Wise 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 Wise?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Wise holds a E-money inst. licence under FCA; deposit guarantee per depositor: Safeguarded. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Wise?
ALAT by Wema operates in 1 country; Wise operates in 160 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.