Many types of bank accounts cover pretty much everything that people look for – from checking and brokerage to savings. But what about the basics? That’s right, today we’re talking business and merchant accounts! You see, not all clients sure, if they are required to have both these accounts, and what are their purpose. That’s what we talk about in this article. What is a merchant account? Do you need one for a business? A merchant account is a type of bank account that allows companies to accept electronic payment transactions for their goods and services. So, if you are
Genome is showing support for all businesses that will struggle with the retailing of physical goods while switching to e-commerce. For all low-risk businesses that are already in Genome and new low-risk clients, the fintech company will open a business account for free and will cancel any monthly account fees from April 14th, 2020 till December 31, 2020. So business owners can kickstart and put their business on a full roll even faster than before the pandemic circumstances.
Offer will greatly benefit businesses like food services, toys, electronic goods, home appliances and entertainment systems, educational platforms etc. Genome API is easy to integrate and a merchant account opening as well all other services are completely online, so you can start accepting payments from your clients on your website in just a matter of days, so there’s no need to go to the physical bank. Business owners can open a business bank account, open merchant account, integrate API, receive payments and benefit from direct payouts — all from the safety of their home.
in Genome for free
Who can apply? Well, Genome announced that all existing low-risk business clients will skip all monthly account fees, so if you’re one of them — no actions required from your side. If you’re planning to join Genome and apply for a business account, please make sure that the business industry you operate in classifies as a low-risk one and the country of incorporation is marked as low risk as well, you can check that on Genome’s website. Please note that special conditions do not apply for businesses that operate in a high-risk vertical. To know more, please visit their rate page.
Genome is an Electronic Money Institution, licensed by the National Bank of Lithuania, founded in 2018. Specializes in online financial services for personal and business needs: opening of business, settlement and merchant accounts with a dedicated IBAN’s, providing SEPA and SWIFT transfers with possibility to do currency exchange and also payment processing via credit cards and all other alternative payment methods. For more detailed info visit our website.