Besides quick signup and online onboarding, Genome provides businesses with a full set of services and tools for financial operations: secure SWIFT and SEPA transfers, multi-currency account opening in EUR, USD, and GBP, beneficial currency exchange, mass payments, and, of course, merchant account opening all in one Genome ecosystem.
Sign up to Genome and pass the identity verification (you will need an ID-document and a smartphone for that).
Finish the application: provide information about your business, its registration address, and ownership structure. Yes, it is that simple!
Set up a business account and go to the main dashboard.
From there, you can add up to 5 accounts in each currency (EUR, GBP, USD). The accounts will be available straight away.
Genome has SEPA and SWIFT transfers available. Have business partners that use Genome as well? Receive and send funds to them instantly via our internal transfers. Save and schedule transfers.
Do business transfers in your company name, generate account statements in PDF or CSV, send batch transfers. Share access to business account and assign roles to your employees with My Team feature.
Make and track business transactions and marketing expenses. Pay securely in business trips with a slick black matte corporate card, or activate it virtually with instant access.
Genome makes sure your money and information are safe with Strong customer authentication (SCA) features for all payer-initiated transactions (2FA, OTP passwords upon, etc.).
Once you have a company account within Genome, you can apply for a merchant account — the onboarding also happens online. Accept payments, analyze your customers, check reports and more — using our merchant dashboard.
Recommend Genome to colleagues and other businesses. You will start getting bonuses when these companies will start a EUR IBAN account with your link and begin using it. More info about the referral program.
After you open a new business account, you get to use the access management feature. The other employees, which you want to manage the company account, need to sign up and pass the identity verification, so the process is secure. Once they have completed the KYC, invite them to operate the business account together.
Keep an eye on your business. Your electronic payments are protected with multi-factor authentication for maximum security, as a part of SCA (strong customer authentication) requirements. Confirm your logins with OTPs, generate account statements, check reports and always be in control of your money flows.
What is a business account?
This is a type of account, using which a company gets access to different financial features. Genome also provides business accounts to our clients, which means they can store funds, perform and track transactions, transfer and receive money, etc. With our business account, you can also start a merchant account to accept payments for your goods or services.
What do you need to open a business account?
Banks and payment service providers have varying requirements for companies that want to apply for the account. Commonly, a person will need to identify themselves and provide some documents that verify information about their companies. To get Genome’s business account, you will need a document that will help with your identification (like an ID-card or a passport), company incorporation documents, proof of ownership, a phone, and a web browser.
How long does it take to open a business account?
It depends on how long does it take a bank or a payment service provider to review your application. Some of them take a long time to do so. At Genome, you can start a business account within 72 hours.
What’s the difference between a personal account and a business account?
As the names of the accounts suggest, the former is used for a person’s own funds, while the company’s money is stored within a business account. Banks and PSPs usually require that you store your personal and company’s money accordingly. Moreover, mixing the two will make many processes, like paying taxes, more complicated. You can open both personal and business accounts within Genome and manage both via the app — from your dashboard.