A business bank account is a necessity for any company. However, you may wonder, “Can I have 2 business bank accounts?”. The short answer is yes, you can.  But our team at Genome also wants to explain why you might need more than one business bank account and the benefits of having multiple business accounts. Business bank account: the fundamentals of your financial journey A business bank account is an account you can open in a brick-and-mortar bank or other financial institution. The account is in your company’s name, and you can use it for corporate financial operations. Simply put,

Most people with bank accounts will undoubtedly want a card as well. After all, debit and credit cards allow for quick payments in most parts of the world and online.  However, when selecting a card, you may wonder which option is better – physical or virtual.   Genome is here to help you clear things up. In this article, we describe the difference between virtual and physical debit cards and explain various types of cards in general.  What is a virtual card?  It is all in the name, really! A virtual card is a payment card that banks and financial institutions

Are you ready for the spookiest month of the year? Don’t be in a hurry – you still have time to check Genome’s month in review for September! This time, we have a couple of small but essential product updates and more informative articles to help with your finance management!   Speed up your payments with the IBAN scanner Clients using the Genome app on their Android devices can now make payments faster. The team created an IBAN scanner, which allows clients to scan the IBAN when sending money to someone instead of filling it out manually. Here is how you

You know how the saying goes – “better safe than sorry.” This statement can apply to many things in life, including your online banking habits. Whenever you access any financial services via the internet, you need to be cautious to keep your money and data safe. Genome provided some of the tips on online banking security below.  Financial security tips for using online banking Before we begin, we want to remind you that the term online banking refers to any financial service, operation, or activity you access with the help of the internet – via a mobile app or web

Finances are a very complicated and extensive topic for any business. A lot of careful planning and thought must be put into it not only to manage your corporate funds successfully but even to keep your company afloat. This is where financial goals come into place, allowing you to better understand and organize financial strategy. But how do you set financial goals? Find out in Genome’s article! What is a business financial goal?  Let’s be clear: any company needs money to operate, upgrade its services, purchase necessary equipment, pay employees, and for many more reasons. This is why businesses pay

Surely, you know about banks: every decent-sized European city has at least one nowadays. Using a bank has become something as regular as going to the store.  But how about non-banks? The term may sound a bit confusing, as it doesn’t exactly tell us the purpose of such companies.  The Genome team is here to clear everything up! This article will explain how the non-banking companies work and differ from other financial institutions.  Non-banking financial companies: meaning of the term First and foremost, let us finally explain what is meant when referring to non-banking financial institutions. Non-bank financial institutions, also

Summer is over, but the excitement remains – it is time for Genome’s new month in review! August was fruitful: we unveiled a new feature, lowered prices, introduced new website pages, and more. Learn about it all below!   Try out privacy mode for Android! Our team added one more feature to enhance your customer experience and security. All Genome clients that use Android devices to access the Genome app can now enable a privacy mode.  This mode allows you to hide balance and turnover amounts when using the app. It is an extremely useful feature when you are in public

The Genome team continues explaining the different types of fraudulent financial schemes people can find themselves in when running their day-to-day errands. And what can be more mundane than using an ATM?  Unfortunately, this is why you can be caught off guard and become a victim of ATM skimming fraud. This article explains how skimming fraud occurs and how you can recognize and avoid ATM skimming.   What is skimming in banking? When talking about financial fraud cases, one may be used to thinking that scammers mainly operate online, as it is easier to trick someone who can’t see you.  However,

Let’s be honest: we all make mistakes, it is an inalienable part of life. Sometimes it’s trivial, day-to-day things, like buying wrong-size shoes online or forgetting to send a report at work. Of course, companies are not exempt from making business mistakes either. Some of these blunders are common, which allows other companies to learn how to avoid them. That is why Genome’s team decided to list some of the most frequent financial mistakes businesses can face, as well as the ways to prevent them.  Short-term and long-term planning is crucial Lack of planning is a common startup mistake, but