Online banking and USSD banking have been around for awhile now; but there are limits to the banking transactions you can do with them. For example, if you are already using either of the two banking methods, you still need to go to your bank to pick and activate your debit card.
But when you use ALAT, the first digital banking app in Nigeria by WEMA bank, your ATM card will be delivered to you, you will activate it yourself, and do all sorts of banking operations from the app, including being your own customer service agent.
So What is ALAT?
According to its official website, ALAT is the first fully functional digital-banking platform in Nigeria, on which you can do all banking transactions, without being physically present in your banking hall.
If you are already using the mobile banking app of your bank, you may be wondering how is ALAT different or better.
ALAT is different and better in that it is a form of special account like the Diamond Yellow account but all transactions with the account is performed within the ALAT app. You can request your account statement, submit documents, activate and deactivate the debit card that comes with the account, transfer funds, receive funds, pay bills, be your own service agent, etc.
Features of ALAT
Below are brief descriptions of some of what you can do with the first digital banking app in the country.
Open An Instant Bank Account
With the ALAT app, you can open an account within 5 minutes, using your BVN and mobile phone number. To get started, first, download the app in Play Store for your Android phone, or in Apple Store for your iPhone.
After downloading the app, supply your BVN, your phone number and fill the account-opening form. Only savings account can be opened for now.
Uploading Documents
Since opening a new bank account requires some documents to authenticate the person opening the account, ALAT provides the option to upload the required documents, in form of pictures.
Pictures to upload, through the ALAT app, to confirm the account opening are pictures of your international passport or your driver’s license or national identity card or permanent voter’s card.
After successfully confirming the account, your account number will be deliver to your email.
Funding the ALAT Account
For ALAT is a digital banking app by WEMA bank, the easiest way to fund the account is through a direct debit from a WEMA bank account. However the debit cards of other banks in Nigeria and foreign debit cards can be used to fund the account, too. To do the funding, login to the ALAT app, tap on Fund My Account, and choose any of the three funding options.
Depositing Into an ALAT Account
If you don’t want to fund an ALAT account through the debit card options, you can walking into any WEMA bank near to you and do the depositing into the account.
Ability To Control Where & How Your Account Works
In term of security, ALAT digital banking is really secured, even more than the conventional bank account. You can control the channels (ATM, POS and Online) on which you want your ALAT debit card to work, and at the same time, you can decide to block the card from working in some countries, as you wish.
Fund Transfer And Bill Payment
From within the app, you can schedule automatic payment of all your billings, so that they are automatically paid as at when due, without you bothering to keep the date to pay salaries and billings in your memory. And of course you can do instant payments.
ALAT promises 10% annual interest rate in saving – – and I think that’s fantastic.
Download the app on your phone, and be one of the first to enjoy the benefits of the first digital banking in Nigeria
Nive one joor.
Wema bank must be remembered for this
Yes, bro. It is a good initiative from the bank.