Genome Blog / genome update / Genome is canceling service fees for Lithuanian companies
Aug. 17, 2020
We at Genome are proud to be acknowledged as a part of the Lithuanian Fintech landscape. As of 2020, there are over 200 Fintech companies here, and thanks to that Lithuania became the largest Fintech hub within the European Union by the number of licensed companies and was placed 4th in the Global Fintech Rank.
It feels great to make a contribution to the country’s development, and we want to continue doing so. Hence, Genome is annulling all the service fees for companies based in Lithuania and for all our existing Lithuanian clients starting August 17th, 2020. We are also lowering the SEPA transfers fees – you will only pay 0,06 EUR per incoming and 0,11 EUR for outgoing transfers instead of 1 EUR for both services.
Not only do we want to give back to our Lithuanian business community, but also hope that these bonuses will help out companies that were negatively affected by the pandemic. As for the latter, Genome already has experience in supporting low-risk companies that faced severe consequences of the lockdown, so supporting local businesses is the next thing to do.
This service is automatically available for all our existing Lithuanian clients starting August 17th, 2020 till August 1st, 2021. The same goes for Lithuania-based businesses, that are only thinking of joining – just confirm that your company is based in Lithuania by completing Genome’s KYB procedure and enjoy all the benefits of a fee-free business account.
Our merchants’ transactions are also protected by Covery anti-fraud platform that minimizes chargebacks, that have increased during the last 6 months. Not to mention that clients can control their business finances on the go through Genome’s application. In other exciting news – soon we are going to launch a debit card, which both our business and personal clients will be able to use worldwide.
“The main goal of Genome, and it’s supervisor – the National Bank of Lithuania – is to increase the competitiveness of Fintech companies like ours, and we believe that this step will help to achieve this goal, since, unlike the traditional banks, Genome provides all its services completely online.
With us, you can open multiple IBANs, personal, business and merchant accounts, exchange currencies, make money transfers within Genome and SEPA payments from the comfort of your home. Not to mention that we are safer than traditional banks, as we separate our funds from clients’ funds”, – explained Genome’s COO Daumantas Barauskas.
Want to try out Genome’s services? Please visit our website and feel free to write us an email or talk with our support team directly through an online chat in the right lower corner, if you have any questions.