ALAT by Wema vs Brex.
ALAT by Wema (A75/100) and Brex (B70/100), 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 Brex 3-2.
| A ALAT by Wema №19 · CBN 75 /100 | B Brex №34 · FDIC 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% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank CBN | Partner-bank FDIC |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | $250,000 US.FDIC |
| 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 | 4.5 ★ 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 Brex if…
SMB-business neobank built around corporate cards + spend management. Brex Cash uses partner-bank sweep (Choice Financial + Lead Bank + Citi) for FDIC pass-through up to $6M+. Y Combinator alumni; ~$12B valuation. The default for VC-backed US startups.
- Best for fees Brex won 1 of 4
- Best for protection ALAT by Wema won 2 of 2
- Best for reach Tied
- Best for ux Brex won 1 of 2
ALAT by Wema vs Brex — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Brex?
Under our v3 methodology, ALAT by Wema leads Brex 3–2 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs Brex 70/100. 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 Brex cheaper?
Monthly fee — ALAT by Wema: €0; Brex: €0. Card FX markup — ALAT by Wema: 3.00%; Brex: Interbank. Brex 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 Brex?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Brex holds a Partner-bank licence under FDIC; deposit guarantee per depositor: $250,000. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Brex?
ALAT by Wema operates in 1 country; Brex 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.