If you operate a Dom lite or Dom plus account on Wema bank, one problem you must have experienced is the rareness of the dollar bills in the banking halls. Personally, when I tried to access my funds, I had to visit up to three branches of the bank before I was able to withdraw.
This scarcity of dollar bills is the main discouraging factor as long as running wema Domiciliary account is concerned. The good news however is that, wema has introduced a currency conversion feature on the app that allows users automatically convert their dollar and other foreign currencies to naira using the current exchange rate(s). In this article, we will be having a look at how to convert USD to naira on Alat by Wema app.
The new feature was introduced some days ago and there are certain guidelines you should know before attempting to use the new currency conversion feature; which is officially “FX Sales” on Alat app.
Some tips to know about the Currency Conversion Feature on Alat by Wema
1. Trades i.e. conversion can only be done on Mondays to Friday (9:00am to 3pm)
2. You can’t convert during the weekends.
3. Only available for people who either run Wema Dom plus or Dom lite accounts and you must also have a standard wema naira account because the converted amount is immediately transferred to your naira account.
How to Convert USD to Naira On Alat by Wema
1. Launch your Alat app and login to your account, if you don’t have an account, then consider Reading this detailed guide on How to Open A Dollar account without visiting the bank
2. Click on Payments > FX Sales > you will be asked to enter the amount you intend to convert. Then proceed to enter your transaction pin and submit.
3. The money will be instantly converted and moved to your naira account. For now, there are some errors because the feature is still very new but I believe in the coming weeks, you will be able to use it comfortably.
Honestly speaking, this is a major advancement and it has once again put wema bank forward as a truly digital bank.
