A business bank account is a must for any company that offers products, merchandise, and services to customers. However, there’s no one-size-fits-all solution. Meaning that the needs of companies may vary drastically when it comes to financial services. While e-commerce websites won’t need much in terms of banking solutions, restaurant owners will face quite a different experience. That’s why today, Genome’s team decided to explain the intricacies of getting a restaurant bank account. In this article, restaurant owners can learn what their business needs to run the financial side of it.  Types of bank accounts for restaurant owners  Generally, as

The concept of banking is extremely broad nowadays, encompassing multiple types of financial institutions and various services for individuals, companies, and merchants. And digital banking has become a big part of it, as the industry has been undergoing significant transformation.  Thus, diving into the digital banking topic is important, and that’s what Genome’s team is doing today! Find out more about digital banking services and how to start using them in this article. We also explain the difference between online, mobile, and digital banking.   Digital banking: meaning of the term The name of the term “digital banking” says it all.

The article was updated on 28.11.2024 ATMs are so common among banking services nowadays that most people likely take them for granted. However, if, by some unexplained mystery, all ATMs disappear from the planet tomorrow – you will definitely notice. They are an integral part of essential banking tools and people’s day-to-day errands.    But what is an ATM exactly? Have you ever wondered how ATMs work and which services they provide? Well, Genome is here to answer your questions! Learn more about them in this article.   What is an automated teller machine (ATM)? The automated teller machine (ATM) is a

Nowadays, banking is a broad concept encompassing multiple types of services. Just take a look at the article where we described different types of financial institutions – definitely, the market is very diverse. By the way, in that particular article, the Genome team mentioned retail and commercial (corporate) banks, and we decided to elaborate on the topic a bit more. Thus, today, we will explain the difference between retail and corporate banking and also describe some of the services that retail and corporate banks provide.  What is a retail bank? If you are looking for an account for your personal

Let’s be clear: merchants have to deal with a lot. Not only the customers’ demands are high, but the management of financial operations can be exhausting as well. Not to mention all the service fees merchants need to take care of. Speaking of, do you know enough about cross-border fees? If not, you will – thanks to Genome’s article. Today our team explains what a cross-border fee is, their types, and how companies should deal with cross-border processing fees.  Cross-border fee: meaning of the term A cross-border fee is a common thing that occurs during cross-border transactions. For instance, when

The sheer number of businesses and services they provide forces customers to be more picky and critical. As a result, companies are under constant pressure – they need to ensure every part of their business operations is on par with high expectations. Payment methods are no exception. In today’s article, Genome lists some of the best payment methods for small businesses, along with contactless payment options. Read on to find out more about small business payment options.  What are different payment methods for businesses? Before answering this question, let’s first dissect what the term itself means. A payment method refers

The type of account you select can really make or break your banking experience. That is why knowing what you get into when applying for an account is a must.  For instance, are you sure the business checking account you are considering getting is on par with your company’s requirements? Maybe this Genome article will help you figure it out! Join us as our team explains the difference between business checking vs. personal checking accounts.  Business checking account: a definition If you have ever searched for a business account, you probably came across entire lists of different account types. For

The article was updated on 19.09.2024 Opening a dedicated business bank account for an LLC is crucial for managing finances effectively and maintaining a clear separation between personal and business transactions.  An LLC bank account is not just a convenient tool but a fundamental aspect of legal and financial management. It helps uphold the LLC’s limited liability protection, simplifies tax reporting, and enhances the company’s credibility with clients, suppliers, and financial institutions. Find out how to open a business bank account for LLC and why you need one in this article.  Why you need a business bank account for your

Changes are a part of life. Some are positive, some are negative, and some are just plain necessary. Even your financial behavior, choices, and operations are prone to changes. For instance, some companies may want to find an alternative to their bank account. Thus, today, Genome’s team will explain how to change a business bank account if you have found a better option for your company. We will also list some of the main features of a modern, reliable business account.   The reasons to switch bank accounts When you stumble upon this article, you may think, “Why would I need

The article was updated on 17.10.2024 Account takeover fraud is on the rise nowadays. For instance, in 2023, there was a tremendous amount of cyberattack cases – over 353 million people became victims of data breaches in the US alone. Hackers gain unauthorized access to personal accounts through phishing, credential stuffing, or sensitive data breaches, leading to significant financial losses. But how can you prevent ATO attacks and better protect yourself? Read Genome’s team’s advice to find out how to protect yourself from ATO attacks and what the best security measures are! What is an account takeover (ATO)? Account takeover