ALAT by Wema vs Aspire.
ALAT by Wema (A75/100) and Aspire (A70/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. A close tie.
| A ALAT by Wema №19 · CBN 75 /100 | A Aspire №37 · MAS 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% | 0.30% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank CBN | Partner-bank MAS |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | €100,000 SG.SDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 8 countries |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | Yes | No |
| UX | ||
| Trustpilot Customer score | — | 4.3 ★ 1k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.4 · And 4.5 | 4.5 ★ iOS 4.6 · And 4.4 |
| 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 Aspire if…
The APAC-first multi-currency business-account platform for SaaS startups and e-commerce sellers — SG-HQ MAS Major Payment Institution with native multi-currency accounts (USD/SGD/EUR/GBP/IDR + HKD/AUD/IDR/MYR) plus local-currency receiving in 30+ countries and local account issuance in 6 jurisdictions (SG, HK, US, UK, EU, AU). Built for APAC startups taking USD revenue who need a SGD operating account without the friction of running Mercury (US) + a SG-bank relationship side-by-side. Stripe + Shopify + Xero integration depth makes Aspire the structural fit for SaaS / e-commerce / fintech operators in the region. MAS-licensed Major Payment Institution status is the structural anchor.
- Best for fees Aspire won 1 of 4
- Best for protection ALAT by Wema won 2 of 2
- Best for reach Tied
- Best for ux Aspire won 2 of 2
ALAT by Wema vs Aspire — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Aspire?
ALAT by Wema and Aspire are tied 4–4 across 12 dimensions under our v3 methodology. Composite scores: ALAT by Wema 75/100 vs Aspire 70/100. The right pick depends on which dimension you weight most heavily.
Is ALAT by Wema or Aspire cheaper?
Monthly fee — ALAT by Wema: €0; Aspire: €0. Card FX markup — ALAT by Wema: 3.00%; Aspire: 0.30%. Aspire 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 Aspire?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Aspire holds a Partner-bank licence under MAS; deposit guarantee per depositor: €100,000. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Aspire?
ALAT by Wema operates in 1 country; Aspire operates in 8 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.