K Bank vs ALAT by Wema.
K Bank (K78/100) 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. K Bank leads ALAT by Wema 3-1.
| A ALAT by Wema №19 · CBN 75 /100 | K K Bank №09 · KDIC 78 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 78 /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 | Full bank KDIC |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | €50,000,000 KR.KDIC |
| 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 | 4.5 ★ iOS 4.5 · 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 K Bank if…
Korea's first Internet-Only Bank to launch (April 2017) — predates Kakao Bank by three months. KT Corporation (Korea Telecom) is the largest shareholder, providing carrier-bundled distribution and ASEAN remittance corridors via Wirebarley. The cash-settlement counterparty for Upbit, Korea's largest crypto exchange — exposure to crypto-cycle deposit flows. Listed on KOSPI in 2024 after two shelved IPO attempts.
- Best for fees K Bank won 1 of 4
- Best for protection K Bank won 1 of 2
- Best for reach ALAT by Wema won 1 of 3
- Best for ux Tied
K Bank vs ALAT by Wema — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than K Bank?
Under our v3 methodology, K Bank leads ALAT by Wema 3–1 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs K Bank 78/100. K Bank 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 K Bank cheaper?
Monthly fee — ALAT by Wema: €0; K Bank: €0. Card FX markup — ALAT by Wema: 3.00%; K Bank: Interbank. K 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 K Bank?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. K Bank holds a Full bank licence under KDIC; deposit guarantee per depositor: €50,000,000. K Bank is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and K Bank?
ALAT by Wema operates in 1 country; K 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.