ALAT by Wema vs Nomo.
ALAT by Wema (A75/100) and Nomo (N52/100), 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 Nomo 4-2.
| A ALAT by Wema №19 · CBN 75 /100 | N Nomo №68 · FCA 52 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 52 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 3.00% | 1.00% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank CBN | Payment inst. FCA |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | Safeguarded GB.FSCS |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 2 countries |
| 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 | 4.3 ★ iOS 4.4 · 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 Nomo if…
Sharia-compliant digital bank — Boubyan Bank Kuwait digital arm via Bank of London + The Middle East (BLME, FCA-licensed). Cross-border GCC-UK money management. UK FSCS GBP 85K + Kuwait DPS via parent. Unique dual-passport structure.
- Best for fees Nomo won 1 of 4
- Best for protection ALAT by Wema won 2 of 2
- Best for reach Nomo won 1 of 3
- Best for ux ALAT by Wema won 1 of 2
ALAT by Wema vs Nomo — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Nomo?
Under our v3 methodology, ALAT by Wema leads Nomo 4–2 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs Nomo 52/100. 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 Nomo cheaper?
Monthly fee — ALAT by Wema: €0; Nomo: €0. Card FX markup — ALAT by Wema: 3.00%; Nomo: 1.00%. Nomo 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 Nomo?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Nomo holds a Payment 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 Nomo?
ALAT by Wema operates in 1 country; Nomo operates in 2 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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