Prepaid cards first appeared approximately 50 years ago in the form of gift cards. They received wider recognition in the 1990-s as a convenient tool to receive and use money without opening a current bank account. During the past decade, prepaid cards became available to a large audience due to the development of modern financial technologies. You don’t need to apply for a checking account or pass credit checks to receive a credit card. On the contrary, everything is much simpler than that – you can order a prepaid bank card in a few clicks via the Internet.  So, what’s

Among the multiple types of bank accounts, a business one is mentioned commonly. No wonder – many companies can benefit from having the account and using its tools to grow their revenue. But the question stands: in which cases do you need a business bank account? In today’s article, Genome will explore this topic. We will advise you on how to choose the best business account. What is a business bank account? Business accounts are used by individuals and companies to carry out solely business operations. Such as storing funds, transferring money, paying salaries, etc.   Moreover, a company is required

We’re all well familiar with debit cards and how they work. With this physical or virtual extension of a bank current account, one can pay via the Internet, by using a special app on the smartphone, and, last but not least, in any physical store with the help of a POS terminal. You can also send and receive funds using a debit bank card, and this payment method has been gaining popularity during the past decade in all countries. In today’s Genome article, we will reveal all about how to use a debit card for moving money online, as well as briefly

With the steady development of modern banking over the past decade, many complicated financial terms migrated into our daily jargon. Moreover, now financial operations are simple and fast: just with a few clicks on your smartphone, you can make a call, take a photo, or send money. While such words and phrases as transfer, debit card, and electronic money are understandable, there remain some financial terms that are more difficult to comprehend. That’s why Genome‘s team decided to talk about what does a remit payment mean in our article. Also known as remittance, this financial operation is widely used globally.

With a gradual shift to online banking, all financial operations are now done via the Internet. No matter whether you’re paying for the purchase with the bank card or digital wallet, or wiring funds to another country, all this happens online.  To order a transfer (both domestic and international ones) you can use any available device. Just a few clicks in your banking application – and you’re all done. However, it often happens that even with mobile banking there can be some issues. One of them is banking transfer limits: transfers can be canceled or simply won’t go through because

In the world of rapid digitalization, the term “online banking” comes up a lot. And no wonder, as it is a relatively new, convenient way of managing your finances. But what is online banking exactly? How does online banking work, and most importantly, how can you use it to your utmost benefit? Today, Genome’s team will be answering all these questions and more, so you can decide, whether it is for you or not.  How online banking works Let’s first start with a definition of online banking. Online banking is a process when a customer or a company performs all

Summer has ended, but Genome’s updates just keep on coming! Let’s see what new exciting articles and features came out in August in this month in a review blog! More transfers talks We can’t state enough how many types of money transferring operations there are. And our team is here to explain them all, so you can benefit in the long run! This month we described how to send money to the mobile money wallet– a very relevant topic nowadays! Another topic covered is bank transfers – how they actually happen and how much time it takes for them to

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