Funds transfers are the most rapid way to send and receive payments online. This Genome article is dedicated to the nature of wire transfers, their functionality, usability, and types of transfers available nowadays, and how to send them from your digital wallet. What is a money transfer? Money transfer is also called a banking transfer, or wireless transfer. It is the transmission of e-funds to a private or business account of a person or an entity. E-money sendings today do not have to involve an actual physical exchange of funds, only the electronic equivalent of it. And instead of receiving

What is an IBAN? IBAN stands for the International Bank Account Number. This is a unified global system that was established by banking networks to identify any valid bank account in a lot of countries around the world. Obtaining this number, along with other payment data, enables a person or a business to transfer and receive funds globally – using bank accounts or eWallets. We at Genome offer personal and business IBANs as well! IBAN has strict rules in its order:   Open an account in Genome online Get Started How does an IBAN work for transfers? If we are

IBAN transfers are wires abroad widely used all over the world. They are speedy, supported by the majority of banks, and not-so-difficult to order. In Genome, we support IBAN bank transfers for our personal and business wallets clients. Today, we’re talking about how to send them and how long they take. What is an IBAN transfer? The word IBAN stands for International Bank Account Number. It’s a special code that indicates a unique account and usually consists of 34 digits and letters but can also be shorter. This code is usually required for sending money, that is why some people

In a world where most cards look all the same and are mostly used virtually via digital wallets, being able to differentiate between credit and debit bank cards is a money-saving skill. Today we will talk not about how these cards look. Indeed, we will get deeper into their functionality and features, along with all the fees and charges.  Genome offers physical and virtual debit cards to its users both on personal and business accounts. We are well aware of what features are the most requested ones, where people tend to spend the most, and, finally, at what occasions it’s

The spooky end of the month is upon us, but nothing can scare us on our way to sharing the Genome updates! We have some new features as well as useful articles to talk about, so let’s get to it! Tips galore on account opening and transfers In October, our team dedicated multiple articles to explaining different types of money transfers and the account openings. For instance, if you ever wondered how to start a bank account in another country you plan on moving to, Genome’s article on foreign account opening will be of great service! And there’s also an

Please note that Genome’s merchant services have been temporarily unavailable since September 2024. In the modern world, opening your own business is a growing tendency, no matter in what country you’re living. First of all, it brings some stability (along with constant challenges) to your life. That is, some people prefer working on their own rather than doing corporate jobs where they have almost no influence on the company and all the processes. Secondly, globalization, coupled with digitalization, presents new ways of starting and managing a business without even leaving your house. Beginning from DIY little things and ending up

Prepaid debit cards are a great way to have better control of your spendings. Why? Because you can only use as much money as you’ve put on such a card in advance. As a matter of fact, prepaid cards are pretty similar to debit ones. The major difference is that with a second one you can sometimes go overdraft. With a prepaid card, it’s not possible under any conditions.  In today’s blog post, Genome will discuss how prepaid debit cards for travel work, what are their strong sides, and which one of them is the best. Read on for more

If you live in Europe, the chances of you making SEPA transfers are pretty high. But did you know there are different types of SEPA payments? No worries, Genome’s team is here to clarify the difference between them. Join us today and learn which kind of transfers will suit your needs best.  But before getting to the main topic of the article, here’s a quick reminder. SEPA transfers are a type of transaction made in euros, which occur within the SEPA zone on a bank-to-bank basis. Right now, 36 countries are a part of the Single Euro Payments Area. These

Of course, it’s best to choose one reliable financial provider to manage your finances over an extended period. However, it often happens that we need to send money between providers. It may seem like a burden to move all your funds to another bank at once or within a short given time. In addition, the pressure of making a mistake with the necessary details and losing all your savings is always there, especially if you’re in a hurry.  But don’t worry, the reality of transferring money from one bank to another is much less scary than you can imagine. Indeed, there are

What’s the first thing you do after booking tickets and housing in a foreign country? That’s right, you think about your payment options and day-to-day banking. It’s no secret that having a foreign account would simplify a lot, no matter whether you’re traveling for business or pleasure and whether it’s a short trip or long-term stay. It’s not all about low fees or beneficial currency exchange rates. In fact, having and using a foreign account abroad also has a lot to do with comfort. If you’re in a foreign country, you do not need any hassle or complications with the speed