An ALAT account: why every student should have one

ALAT: building Nigeria’s first fully digital bank and becoming the future of banking in Nigeria

When I decided to open an ALAT account and began to enjoy its benefits, memories from a very long time ago as a student came to bare.

You see, as an undergraduate at university outside the country, spending and saving was a very herculean task. Life was a whole lot different from life in Nigeria, I dare say the cost of living was higher in comparison to Nigeria at that time.

I had issues saving money especially, I remember in my third year, when I wanted to change the Air conditioner in my room, I started setting apart little monies for that purpose. Of course, with time, as a youth filled with so many youthful exuberances, I saw myself dipping my fingers into the savings.


Having an ALAT account reminded me of a friend of mine who schooled in Nigeria, he had suffered a set-back. He had lost his dad. His father was basically the one sorting out his academic expenses and so therefore with his death, my good friend was very distraught and confused, he already made plans to quit school and find a “hustle”. I remember him saying, “had I known, I’d have saved enough money while my father was alive so as to take care of the present situation” because actually, his father’s death wasn’t instant, he had a cancer, so death was already knocking. But no preparations for after-daddy!

These 2 memories I just shared are oddly common among many Nigerian students. While we may want to “enjoy life”, we also want to save money for different purposes, we find it extremely hard to. When students are broke, they ask their parents for money and of course, most of us get the “what happened to all the money I gave you?” 😄 Because our parents save and expect the same from us.


Life is full of winds, today it blows in your favour, one day it won’t. Even the good book says so. When it comes to finances, how do you prepare for the hard times — save!


Before I became an ALATIAN, I used to battle saving, battle spending prudently. Bearing all these in mind, you can imagine my joy when I got to learn about ALAT, Nigeria’s first fully-digital bank.

From opening my account to requesting for my ATM card to having my card delivered to me, to setting up my incredible savings goals, I did easily from my phone. So as a student, you don’t have to bother about rushing out of class or “finding time” to visit a bank.

With ALAT, I’m now able to save money for as many wishes my heart desires. And what’s more exciting, ALAT because of its fully-digital nature offers interest rate no bank gives, 10% per annum and you can either create a fixed or a flexible saving goal.

And I tell you, savings with ALAT is Specific, Measurable, Achievable, Relevant and Time-bound. So if you are familiar with the term SMART goals, ALAT gives you a platform for achieving SMART savings goals.

One of my goals 😁

So why don’t you join the league of Nigerians first fully-digital bankers, as they hilariously call it, ALATIANS today?

All you need do, download the ALAT app from your Play Store or App Store or if you do not have an Android- or iOS-compatible phone, you can open the account by visiting the website alat.ng open the account using your BVN and phone number.

Little tip: if you use Dexter as your referral code when opening your account, when you fund the account with any amount over 500 Naira, you are credited with a little bonus.

So what documents do you need? Your student ID, passport photo, signature and your utility bill which can be your hostel allocation letter if you live on campus or if you are off campus and you pay electricity bills or waste disposal bills, those can also work. And remember, ALAT is fully-digital, so to send these documents, just snap them using your phone and upload them onto your profile in-app or website.

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