ALAT by Wema vs Qonto.
ALAT by Wema (A75/100) and Qonto (Q51/100), 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 Qonto 5-4.
| A ALAT by Wema №19 · CBN 75 /100 | Q Qonto №70 · Payment institution license 51 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 51 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €9 /mo |
| FX markup Debit card abroad | 3.00% | 1.70% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank CBN | Payment inst. |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | Safeguarded EU.DGS.FR |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 8 countries |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | Yes | No |
| UX | ||
| Trustpilot Customer score | — | 4.8 ★ 50k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.4 · And 4.5 | 4.5 ★ iOS 4.8 · And 4.3 |
| 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 Qonto if…
Pick if you run an EU SME and need multi-currency invoicing, accounting integrations, and proper receipts.
- Best for fees Tied
- Best for protection ALAT by Wema won 2 of 2
- Best for reach Tied
- Best for ux Qonto won 2 of 2
ALAT by Wema vs Qonto — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Qonto?
Under our v3 methodology, ALAT by Wema leads Qonto 5–4 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs Qonto 51/100. 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 Qonto cheaper?
Monthly fee — ALAT by Wema: €0; Qonto: €9. Card FX markup — ALAT by Wema: 3.00%; Qonto: 1.70%. 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 Qonto?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Qonto holds a Payment inst. licence under Payment institution license (France, 2018); EU passport across served markets; filed for full French banking license in July 2025; deposit guarantee per depositor: Safeguarded. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Qonto?
ALAT by Wema operates in 1 country; Qonto operates in 8 countries. 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.