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

Hello again! It’s Summer already, but we can’t celebrate quite yet, as we first need to discuss Genome’s updates that occurred in May. Find out about the hot topics we covered in our blog down below! Educating people on scams  Times change, and unfortunately, fraudulent schemes change and evolve with them. Nowadays, there are dozens of ways people and companies can be scammed. It results in their data and funds being stolen or used for malicious purposes. That’s why Genome’s team believes it is crucial to highlight and talk about different fraudulent cases so that clients can recognize and prevent

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

So many banks and financial institutions choose the online route for their services. And for a good reason! After all, it is a more straightforward way of delivering their product to clients. But what are the most crucial features of internet banking? Today, Genome will help you figure it out! Find out which features can really make your financial operations trouble-free.  Must-have bank features and services for online banking clients The complete accessibility of features of digital banking  It seems like a strange requirement at first. But, to be honest, not all financial institutions that promote their digital solutions commit

Banking encapsulates many services: money transfers, debit cards, merchant accounts, etc. At least, this is what most people first think about. But there’s more to banking, as clients sometimes overlook small but still essential features. For instance, bank statements. In today’s article, Genome explains what a bank statement is, how to get a bank statement, and how people can effectively use it to improve their banking experience.  Bank statement: what does it refer to? A bank statement is a document that lists all the transactions and details about them that occurred inside a bank account during a certain period. Usually,

Today, people are very accustomed to online banking services, using them daily. Unfortunately, this also means some of them get too comfortable and throw caution out of the window when performing basic online financial operations. It opens a door for fraudsters and scammers that want to steal your funds and data. And although global cyber security efforts are high, it is impossible to prevent each and every threat.  Today, Genome wants to draw attention to the smishing scam, explain how it works, and advise on smishing prevention.  Smishing: meaning of the term So, if you hear the word “smishing” in

Welcome back to Genome’s latest news and updates! That’s right – you are in for another Month in a review blog post! Let’s see what happened in April of 2023. Transfer templates – now for Android users! Our team announced the launch of transfer templates in a previous update blog. This feature allows planning regular payments faster and more conveniently by creating templates for money transfers. Until recently, templates were only available for Genome’s clients who access my.genome.eu via their PCs and laptops. But now, clients that have the Genome app installed on Android OS-based phones and tablets can use

No banking experience is complete without owning a debit or credit card. After all, it is one of the most convenient ways of purchasing things at stores and online. But what if you need a business debit card for your company?  Genome’s team gathered all the information you might need when selecting a corporate debit card or considering business debit cards for employees. We also describe their advantages and disadvantages, so you can choose the best business debit card.  What is a business debit card?  It is a type of debit card a company can order. Corporate debit cards are

If you have a company, step one in our financial activity will be opening a business account. After all, you need it for main banking activities, such as sending and receiving funds, ordering debit and credit cards, etc.  But what about step two? Well, if you sell goods and/or services, this step will be getting a merchant account. But before you do, you also need to know the basics of merchant processing and processing systems. Find out all the necessary information about payment processing in this Genome article.  Payment processing as a part of payment systems for business There are