Wema Bank: USSD Code, Transfer Charges, SWIFT Code & Rates
Commercial bank · Wema · 30 Lagos branches · ₦5M NDIC coverage
Parent of ALAT digital bank. Hybrid — physical branches + digital ALAT.
Parent company of ALAT, Nigeria's first fully digital bank. The traditional Wema branches serve older/corporate customers while ALAT handles digital youth.
Wema Bank is a Commercial bank (CBN-licensed, NDIC-insured) founded in 1945 (81 years ago), operated by Wema Bank Plc. As of 2026 it serves approximately 6M+ customers through 160 branches nationwide.
- Founded
- 1945 · 81 years serving Nigerians
- Parent company
- Wema Bank Plc
- Customer base
- 6M+
- Branches nationwide
- 160
- Bank type
- Commercial bank (CBN-licensed, NDIC-insured)
- Website
- wemabank.com
- Address
- Wema Towers, 54 Marina, Lagos Island, Lagos, Lagos
If you make 20 transfers, 4 other-bank ATM visits, and 30 SMS alerts per month:
₦1,440 more than Kuda (₦2,400/yr). That's 0 bags of rice.
Compare with all 23 banks →Time to open: 15 minutes · Online via app
- Bank Verification Number (BVN)Mandatory for all Nigerian bank accounts. Get one at any bank branch for free.
- Valid IDNational ID (NIN), International Passport, Voter's Card, or Driver's Licence.
- Passport photographRecent passport-sized photo. The mobile app may accept a live selfie instead.
- Utility billAddress verification. Electricity bill, water bill, or tenancy agreement (last 3 months).
- Minimum opening balance₦0 for savings accounts. ₦5,000-₦10,000 for current accounts.
Wema owns ALAT — Nigeria's first fully digital bank. Wema itself operates as a hybrid physical+digital bank.
Dedicated SME current account with lower maintenance charges and business advisory services.
Founded 1945 — Wema Bank predates almost every other privately-owned Nigerian bank.
Youth savings product bundling loyalty rewards with basic banking services for pupils and university students.