ALAT by Wema vs Chipper Cash.
ALAT by Wema (A75/100) and Chipper Cash (C62/100), 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 №18 · CBN 75 /100 | C Chipper Cash №40 · FCA 62 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 62 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 3.00% | 1.00% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank CBN | E-money inst. FCA |
| Deposit guarantee Per depositor | €5,000,000 NG.NDIC | Safeguarded NG.NDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 9 countries |
| Crypto Coins available | No | 5 coins |
| Stocks & ETFs Self-directed | Yes | Yes |
| UX | ||
| Trustpilot Customer score | — | — |
| App store iOS + Android avg | 4.5 ★ iOS 4.4 · And 4.5 | 4.5 ★ iOS 4.4 · And 4.5 |
| 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 Chipper Cash if…
Pan-African EMI — operates in 9+ African countries + UK + US. Multi-jurisdiction licensing means no single full-bank protection. ~5M users. Backed by Bezos Expeditions, Tiger Global. Anchors the pan-African angle alongside Mukuru.
- Best for fees Chipper Cash won 1 of 4
- Best for protection ALAT by Wema won 2 of 2
- Best for reach Chipper Cash won 2 of 3
- Best for ux Tied
ALAT by Wema vs Chipper Cash — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ALAT by Wema better than Chipper Cash?
ALAT by Wema and Chipper Cash are tied 3–3 across 12 dimensions under our v3 methodology. Composite scores: ALAT by Wema 75/100 vs Chipper Cash 62/100. The right pick depends on which dimension you weight most heavily.
Is ALAT by Wema or Chipper Cash cheaper?
Monthly fee — ALAT by Wema: €0; Chipper Cash: €0. Card FX markup — ALAT by Wema: 3.00%; Chipper Cash: 1.00%. Chipper Cash 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 Chipper Cash?
ALAT by Wema holds a Full bank licence under CBN; deposit guarantee per depositor: €5,000,000. Chipper Cash holds a E-money inst. licence under FCA; deposit guarantee per depositor: Safeguarded. ALAT by Wema is the stronger pick on regulatory protection.
Where can I use ALAT by Wema and Chipper Cash?
ALAT by Wema operates in 1 country; Chipper Cash operates in 9 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.