ALAT by Wema vs Nequi.
ALAT by Wema (A75/100) and Nequi (N75/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. A close tie.
| A ALAT by Wema №19 · CBN 75 /100 | N Nequi №20 · Full Colombian banking licence via Bancolombia parent 75 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 75 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 3.00% | 3.00% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank CBN | Full bank |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | €50,000,000 CO.FOGAFIN |
| 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 Nequi if…
Bancolombia's digital banking arm — Colombia's largest neobank by user count (~17M). Operates under the Bancolombia full-bank licence; FOGAFIN cover applies. Mass-market reach + Bancolombia ATM network. The default Colombian neobank for COP-resident readers.
- Best for fees Tied
- Best for protection Nequi won 1 of 2
- Best for reach ALAT by Wema won 1 of 3
- Best for ux Tied
ALAT by Wema vs Nequi — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Nequi?
ALAT by Wema and Nequi are tied 1–1 across 12 dimensions under our v3 methodology. Composite scores: ALAT by Wema 75/100 vs Nequi 75/100. The right pick depends on which dimension you weight most heavily.
Is ALAT by Wema or Nequi cheaper?
Monthly fee — ALAT by Wema: €0; Nequi: €0. Card FX markup — ALAT by Wema: 3.00%; Nequi: 3.00%. Tied across fee rows. See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, ALAT by Wema or Nequi?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Nequi holds a Full bank licence under Full Colombian banking licence via Bancolombia parent (Superintendencia Financiera de Colombia regulated); FOGAFIN member, COP 50,000,000 cover per depositor. // TODO(verify).; deposit guarantee per depositor: €50,000,000. Nequi is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Nequi?
ALAT by Wema operates in 1 country; Nequi 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.