ALAT by Wema
Nigeria's first fully digital bank
3.9(140K+ reviews)
Founded 2017Lagos, NigeriaUsers
2M+
Rating
3.9/5
Founded
2017
KYC
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About ALAT by Wema
ALAT by Wema Bank was Nigeria's first fully digital bank, launched in 2017. Backed by Wema Bank's decades of banking experience, ALAT offers modern digital banking with the stability and regulatory cover of a traditional bank.
Features
Full digital banking
Savings with interest
Debit cards
Bill payments
Peer-to-peer transfers
Goal-based savings
Money requests
Stash (automated saving)
Fee Structure
| transfers | 10 free/month, then N10-N25 |
| maintenance | Free |
| cards | Physical card N1,000 |
| Savings Rate | 6-10% per annum |
Pros & Cons
Pros
- Backed by established Wema Bank
- Full banking license (not microfinance)
- NDIC deposit insurance
- Pioneer in digital banking
- Good savings products
Cons
- App can be slow at times
- Fewer features than newer competitors
- Transfer limits on basic tier
- Customer service mixed reviews
Links
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