ALAT by Wema vs Sony Bank.
ALAT by Wema (A75/100) and Sony Bank (S69/100), 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 Sony Bank 3-1.
| A ALAT by Wema №19 · CBN 75 /100 | S Sony Bank №41 · JFSA 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% | 0.15% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank CBN | Full bank JFSA |
| 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 | Yes |
| UX | ||
| Trustpilot Customer score | — | — |
| 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 Sony Bank if…
Japan's longest-running internet-only bank (operational since June 2001) — predates Rakuten Bank's eBank acquisition and tied with SBI Sumishin for first-net-bank tenure. The structural specificity is multi-currency forex strength: foreign-currency deposit accounts in 12+ currencies plus retail FX margin trading, the deepest retail-FX product among Japanese chartered net banks. Wholly-owned subsidiary of Sony Financial Group, in turn part of Sony Group Corporation (TYO: 6758). Sony Bank ≠ Sony Pay / Sony Mobile Wallet — the bank holds a full Banking Act licence, the wallet brands do not.
- Best for fees Sony Bank won 1 of 4
- Best for protection ALAT by Wema won 1 of 2
- Best for reach Tied
- Best for ux ALAT by Wema won 1 of 2
ALAT by Wema vs Sony Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Sony Bank?
Under our v3 methodology, ALAT by Wema leads Sony Bank 3–1 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs Sony Bank 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 Sony Bank cheaper?
Monthly fee — ALAT by Wema: €0; Sony Bank: €0. Card FX markup — ALAT by Wema: 3.00%; Sony Bank: 0.15%. Sony Bank 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 Sony Bank?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Sony Bank holds a Full bank licence under JFSA; deposit guarantee per depositor: Safeguarded. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Sony Bank?
ALAT by Wema operates in 1 country; Sony Bank 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?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.