Automate the salary payouts to employees, pay the contractors and manufacturers, etc. Send mass payments using SEPA or Genome internal instant transfers and a single .CSV or .XML file. Download .CSV example, input the required transfer details and execute the batch transfer. No matter the amount of transactions or volumes, SCA is applied to provide maximum security and avoid possible errors. Schedule transfers if necessary.
Sending huge sums of money to different people and accounts is easy if you have access to batch transfers. Using Genome, you can make these mass payments via SEPA transfers. All you need is to start business and merchant accounts within our electronic money institution. The onboarding is quick and takes place online.
Some banks and payment service providers might have limitations as to how much money can be sent via the batch transfer. Genome has no limits when it comes to these transfers, just make sure you have enough money in your dedicated IBAN business account.
Within Genome, the amount and sums of batch money transfers do not influence the time it takes to complete them. As the batch payouts are made via the SEPA transfers, it takes up to 4 hours or the next business day to complete these, depending on the time they are made. You should also take into account weekends and holidays.
Banks and payment service providers generally have different exchange rates for money transferring, and the way for you to find the best one is by comparing them. Genome has transparent pricing with a beneficial currency exchange rate of 1% flat fee over interbank.