ALAT by Wema vs Carbon.
ALAT by Wema (A75/100) and Carbon (C50/100), 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 Carbon 4-0.
| A ALAT by Wema №18 · CBN 75 /100 | C Carbon №65 · CBN 50 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 50 /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 | Payment inst. CBN |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | Safeguarded NG.NDIC |
| 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 | 4.3 ★ iOS 4.3 · 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 Carbon if…
Nigerian credit-led digital bank (formerly Paylater). CBN microfinance bank charter — same regulatory tier as Kuda/OPay (₦2M NDIC microfinance ceiling, not ₦5M DMB full-bank). Credit-line access is the structural differentiator vs. spending-account-led Kuda.
- Best for fees Tied
- Best for protection ALAT by Wema won 2 of 2
- Best for reach Tied
- Best for ux ALAT by Wema won 1 of 2
ALAT by Wema vs Carbon — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Carbon?
Under our v3 methodology, ALAT by Wema leads Carbon 4–0 across 12 dimensions. Composite scores: ALAT by Wema 75/100 vs Carbon 50/100. 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 Carbon cheaper?
Monthly fee — ALAT by Wema: €0; Carbon: €0. Card FX markup — ALAT by Wema: 3.00%; Carbon: 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 Carbon?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Carbon holds a Payment inst. licence under CBN; deposit guarantee per depositor: Safeguarded. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Carbon?
ALAT by Wema operates in 1 country; Carbon 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.