Unfortunately, bank scams are something that people have been dealing with for decades: the general premise stays the same, but fraudsters tend to switch scenarios to adjust to the topical events.  Thus, this year there have been reports of scammers using the panic caused by the pandemic to their advantage. For instance, American households were targeted with phone calls offering relief payments on the behalf of governmental institutions and fraudsters were wheedling out people’s bank account data in the process.  Lots of European countries also faced scammers, with over 400% increase of coronavirus-related fraud claims in the UK in March. In this blog post,

This month Genome is talking bank cards and everything you should know about them. Last time we described the most common types of credit and debit cards.  But there are more important factors to take into consideration while choosing the card, and today we are covering the specifics for both individuals and businesses who are in search of the best credit/debit card for them.    Choosing the right credit card/debit card for personal use Most people will need a bank card for personal reasons at one point in their lives, whether to get salaries, for convenient contactless payments or to send

Bank cards have been common everyday objects for decades, for both businessmen and people that use those for personal needs. Especially as current events are putting contactless payments on the front burner. And the great thing is that banks had come up with a plethora of card types that can satisfy most of the requirements imaginable. So today Genome‘s team is taking a look at the main features of credit and debit cards, as well as exploring the variety of cards there are so that you can determine, how to choose the right card for you.  Debit cards Also known

We at Genome are proud to partner with companies that can help to enhance our services to the maximum potential. And Onfido is a great example of such. So we’re proud to announce the full case study, where you can get more insights on how Genome benefited from using Onfido. Onfido is an identity verification service that utilizes AI technology to prove a person’s identity and is used by businesses around the world within different industries like e-Commerce, gaming, healthcare, travel and vehicle hire, and financial services. We found out more about Onfido while looking for a company that would

The need to send money to another country might hit you anytime – both for your personal or business needs. Thus, knowing what to do in this situation is important, and Genome got you covered. In this article, we will describe the best ways to transfer money internationally, so that you can understand which one is the most beneficial for you. International transfer companies If you or a person/business to whom you send the funds don’t have a bank account, you can use international wire transfer services. Companies that provide these have branches in some countries and allow you to

The article was updated on 27.06.2024 Nowadays, having an IBAN number is common, especially within European financial institutions. Still, some might wonder why IBAN codes are so long or why they were created if SWIFT codes were already a thing. This Genome article will cover the above questions, as well as explain how to send money using an IBAN number and the overall significance of IBAN numbers in online banking. What is an International Bank Account Number (IBAN)? IBAN stands for International Bank Account Number. The European Committee for Banking Standards established the International Bank Account Numbers in 1997 to

Please note that Genome’s merchant services have been temporarily unavailable since September 2024. Having a merchant account is crucial if you want to accept money for your online goods and services. And right now, E-Commerce is not only one of the most in-demand industries but is also an opportunity for retail shops to move some of their products online to strive during the lockdown or similar scenarios.  With Genome, you can open multiple merchant accounts easily and online, no need to leave your house. After getting Genome’s merchant account, you will be able to accept credit cards and alternative method

Sometimes it’s hard to imagine that years ago money transactions between European countries took up to five business days and fees for these were very distinct. However, now the payments are mostly seamless as a result of SEPA adoption. So, let’s take a look at how and why the SEPA appeared, its advantages, and explain what these transactions are and how to make them. Ready? Let’s start. What is a SEPA transfer? SEPA is an initiative adopted by the European Union to integrate electronic payments within its borders. A SingleEuro Payments Area was the next logical step in creating a

The COVID-19 pandemic definitely has pushed financial institutions to change the ways they operate and come up with new solutions for this. These and other topics were recently discussed during the Fintech week Lithuania online conference on the 15-18th of June. Genome also participated in the event and we would like to share some of the most interesting ideas voiced during a panel “The most exciting COVID-19 crisis innovations that will shape the future of Fintechs”. The issue was deliberated on by the head of Fintech Lithuania at Infobalt Paulius Tarbūnas, head series producer and host at Fintech Finance Douglas

Opening a business account at a bank might be worrisome, as you are never quite sure about the ever-changing requirements and documents needed to start one. And sometimes you don’t have any free time to spend on multiple visits to the banking institutions – especially now when it’s better to minimize unnecessary contacts due to the pandemic. Thankfully, there is a faster and safer alternative like Genome, where you can open multiple personal, business IBANs or merchant accounts* completely online – no need to waste time or risk your well being. *Please note that Genome’s merchant services have been temporarily