Article updated on 29.05.2024 Money transfers are one of the most common services people and businesses use. Still, we all sometimes have the need to send money overseas – to friends, partners, contractors, etc.   But what is the best way to send funds to another country using your bank account? Well, there are many options, and today, we will cover the most popular ones! Read on to find out more in this Genome article.  How do international money transfers work? International money transfers are transfers that are made between people or businesses located in different countries.  For instance, Bob works

So, recently Genome dedicated the whole article to the topic of current accounts. What is the current account, how to open it, what documents you need, and all that good stuff. But now, after reading that article, you wonder: “how many current accounts can I have?” Well, we are here to answer! Let’s dive into the topic and help you decide if you need multiple current accounts. Reasons you should have more than one current account There are some common cases in which people choose to start additional current accounts. Here are some of them: Testing the waters Imagine the

A bank transfer is a modern and advanced way to move money around. We all need to order or accept transfers, whether it’s our rent payments or a small loan from a friend. Even though it does not take much time or effort to make such transactions nowadays, those who are not familiar with the process yet may face a few obstacles. But no worries, as today Genome is cracking up bank transfers in our article. We will explain how to send and receive transfers, what do you need for this, and what’s the waiting time. How does a bank

Only a decade ago, a bank card was a tool to receive cash in the ATM. Then, cards became widely used for both online payments and the ones in physical stores. And just within the past 5 years, we’ve experienced a shift to digital wallets and virtual bank cards that can be used and saved on your smart devices. Having a card nowadays does not necessarily mean owning a physical card in your pocket or wallet to make cash withdrawals. However, bank cards still remain essential tools for managing your finances and making purchases.  As we are all still using bank

Bank cards are evolving just like banking technologies and services. Card issuers and financial providers offer even more features every year, especially when it comes to cards. You can choose between virtual and physical bank cards, metal and plastic ones, and even order your own print or pattern. Customizing your card is cool, but, firstly we pay attention to the range of services offered and fees. In this blog post, we’ll talk about the functions and meaning of debit and credit cards – two basic bank cards. In particular, Genome will focus on cracking up the debit card because sometimes

It’s hard to imagine a person that wouldn’t need a bank account in the 21st century. We all have bills to pay, purchases to make, and simply send or receive money from friends, relatives, business partners, etc. With a wide range of financial services providers available in the market, it’s easy to get lost and select the wrong provider that will make your financial experience a challenge. That’s why today we’re talking about different types of current accounts – basic accounts for managing your everyday finances. We will provide a detailed description of each group of checking accounts as well

Mobile wallets are a must for efficient and, what’s more important, speedy management of your finances. Globalization along with our fast-paced lifestyle will never let the world slow down again, especially when we’re talking about the world of finances. Of course, we still can wait for weeks to receive transfers or make payments, as it was only 2 decades ago. The question is: what for? Quick transactions are not something surreal anymore. Indeed, they’ve become a routine for people of different ages in all countries.  Mobile wallets played a huge role in this change. In this article, Genome will explain

Despite the massive use of electronic and contactless payments, we all need cash from time to time. Using credit cards, mobile banking applications, and making money transfers online is simple, fast, and convenient. Nevertheless, cash is still a must in many cases, especially if you’re traveling to countries with no-so-developed financial systems or purchasing something from small local shops. That’s why today we’re talking about what cash withdrawal is and how it works.  What is a cash withdrawal? To put it simply, a cash withdrawal is obtaining physical cash (banknotes) from a bank account. The funds from a currency bank

After Covid-19 outbreaks and the following lockdowns, most businesses had to shift to and focus more on e-commerce. Undoubtedly, it was not the only reason for moving most of the sales online. During the past decade, the tendency for purchasing and buying all goods and services online has been only increasing. As most stores (except for the grocery ones) were closed all over the world during lockdowns, it only resulted in a push for all the companies to concentrate on online orders and sales, accordingly.  Every business that operates online needs an efficient payment system. The question is: how do

We’ve all been in situations where we need to share expenses: with friends, family members, partners, etc. Doesn’t matter if it’s paying bills with your flatmates or saving up with the loved ones for holidays or some large purchases like a car or real estate. Here joint bank accounts come in handy. Join us at Genome today and let’s take a closer look at how they work and what are the risks of opening and managing such an account. How joint bank accounts work These are special accounts in the name of 2 and more users. They work like regular