ALAT by Wema vs Meem.
ALAT by Wema (A75/100) and Meem (M74/100), 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 Meem 3-1.
| A ALAT by Wema №19 · CBN 75 /100 | M Meem №24 · SAMA 74 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 74 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 3.00% | 2.00% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank CBN | Full bank SAMA |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | €200,000 SA.SAMA-DPS |
| 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 | 4.1 ★ iOS 4.2 · And 4.0 |
| 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 Meem if…
Digital banking arm of Gulf International Bank — one of the first KSA digital-only banking offerings (launched 2014). Sharia-compliant by structure (profit-share rather than interest). SA Deposit Protection cover via the GIB licence. Distinguishes itself vs. stc Bank by depth of wealth-management access through the GIB private-banking heritage.
- Best for fees Meem won 1 of 4
- Best for protection ALAT by Wema won 1 of 2
- Best for reach Tied
- Best for ux ALAT by Wema won 1 of 2
ALAT by Wema vs Meem — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Meem?
Under our v3 methodology, ALAT by Wema leads Meem 3–1 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs Meem 74/100. 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 Meem cheaper?
Monthly fee — ALAT by Wema: €0; Meem: €0. Card FX markup — ALAT by Wema: 3.00%; Meem: 2.00%. Meem 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 Meem?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Meem holds a Full bank licence under SAMA; deposit guarantee per depositor: €200,000. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Meem?
ALAT by Wema operates in 1 country; Meem 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.