Airwallex vs ALAT by Wema.
Airwallex (A77/100) and ALAT by Wema (A75/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Airwallex leads ALAT by Wema 5-3.
| A Airwallex №14 · FCA 77 /100 | A ALAT by Wema №19 · CBN 75 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 77 /100 | 75 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 0.40% | 3.00% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Partner-bank FCA | Full bank CBN |
| Deposit guarantee Per depositor | €100,000 SG.SDIC | €5,000,000 NG.NDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 50 countries | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | Yes |
| UX | ||
| Trustpilot Customer score | 4.0 ★ 5k reviews | — |
| App store iOS + Android avg | 4.5 ★ iOS 4.6 · And 4.4 | 4.5 ★ iOS 4.4 · And 4.5 |
| Read review → | Read review → | |
Pick Airwallex if…
The global multi-currency payments and operating-account platform with the broadest footprint in the SMB category — 23 currencies, local accounts in 10+ jurisdictions, local-account receiving in 60+ countries, multi-jurisdiction licensing (AU AFSL + MAS MPI + HKMA MSO + FCA EMI + US state money-transmitter), volume-based FX pricing, and issuing API for embedded card programmes. Structurally the most comprehensive cross-border AP / AR platform in the category, sitting between Wise Business (consumer-and-SMB cross-border) and Stripe (acquiring + payments) in the global-SMB stack. The embedded-finance API is the structural moat versus Aspire and Wise Business — marketplaces and SaaS platforms build payouts and card-issuing on Airwallex infrastructure rather than running multiple regional bank relationships.
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).
- Best for fees Airwallex won 1 of 4
- Best for protection ALAT by Wema won 2 of 2
- Best for reach Tied
- Best for ux Airwallex won 2 of 2
Airwallex vs ALAT by Wema — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Airwallex better than ALAT by Wema?
Under our v3 methodology, Airwallex leads ALAT by Wema 5–3 across 12 dimensions. Composite scores: Airwallex 77/100 vs ALAT by Wema 75/100. Airwallex is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Airwallex or ALAT by Wema cheaper?
Monthly fee — Airwallex: €0; ALAT by Wema: €0. Card FX markup — Airwallex: 0.40%; ALAT by Wema: 3.00%. Airwallex 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, Airwallex or ALAT by Wema?
Airwallex holds a Partner-bank licence under FCA; deposit guarantee per depositor: €100,000. ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use Airwallex and ALAT by Wema?
Airwallex operates in 50 countries; ALAT by Wema 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.