ALAT by Wema review

ALAT is the card platform of Wema Bank Plc, a bank founded in 2017 and based in Nigeria. It is issued by the bank itself rather than by a fintech or a crypto platform, so the money behind the card sits in a bank account rather than a spending wallet.

It is a debit card on the visa network, so it behaves like any other bank card at terminals and ATMs. Spending draws on the balance at Wema Bank Plc, which is the main difference from prepaid or virtual cards that carry their own loaded balance.

The free ATM allowance is NGN 150,000. Cash taken out past that sits outside the free part of the allowance, so regular naira cash use is well served here, while readers who want a free allowance stated in pounds should look at £250 instead.

Features cover multi currency, virtual card and travel, so multi-currency, virtual card and travel needs sit in the same account. That suits readers who would rather hold several currencies in the same place and use a virtual card for online payments than manage a separate wallet for each currency.

The regulator is the Central Bank of Nigeria, and the card is issued by Wema Bank Plc, a Nigerian bank. The account sits with the bank under that supervision, so balances are not held with a crypto exchange or an offshore platform, which is the safety point to weigh first.

Help is available by phone, email and chat, so a blocked card can be reported by phone, by email or by chat. Support here covers every listed channel, which suits readers who want to start in chat and escalate to a call rather than wait on a single channel.

On free ATM withdrawals, ALAT offers NGN 150,000, while the UK comparison accounts list £250 at Wise, £200 at Monzo Flex and £0 at Starling. The figures sit in different currencies, so the naira allowance is the figure that matters for a Nigerian account.