ALAT by Wema vs Now Money.
ALAT by Wema (A75/100) and Now Money (N60/100), 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 Now Money 5-1.
| A ALAT by Wema №19 · CBN 75 /100 | N Now Money №52 · CBUAE 60 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 60 /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 | E-money inst. CBUAE |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | Safeguarded AE.DPS |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | Yes | No |
| UX | ||
| Trustpilot Customer score | — | — |
| App store iOS + Android avg | 4.5 ★ iOS 4.4 · And 4.5 | 4.0 ★ iOS 4.0 · And 3.9 |
| 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 Now Money if…
Migrant-worker-focused EMI in the UAE. Built-in remittance to South Asia at competitive FX. CBUAE-supervised EMI; not a bank — funds are safeguarded, not deposit-insured. Fills the underbanked segment that Liv/Wio/Mashreq Neo don't directly serve.
- Best for fees Now Money won 1 of 4
- Best for protection ALAT by Wema won 2 of 2
- Best for reach ALAT by Wema won 1 of 3
- Best for ux ALAT by Wema won 1 of 2
ALAT by Wema vs Now Money — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Now Money?
Under our v3 methodology, ALAT by Wema leads Now Money 5–1 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs Now Money 60/100. 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 Now Money cheaper?
Monthly fee — ALAT by Wema: €0; Now Money: €0. Card FX markup — ALAT by Wema: 3.00%; Now Money: Interbank. Now Money 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 Now Money?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Now Money holds a E-money inst. licence under CBUAE; deposit guarantee per depositor: Safeguarded. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Now Money?
ALAT by Wema operates in 1 country; Now Money 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?
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