What a busy spring it has been, passing by seemingly in an instant! As we are welcoming the summer of 2025, how about checking the latest updates Genome has to offer? Learn more about the purposes of virtual cards and business debit cards, Faster Payment limits, the difference between personal and business accounts, the best cards for international travel, and more.
What is a virtual card? Exploring its benefits
It’s no secret that multiple banking cards are currently available on the market, each offering its own benefits. But what about cards for your specific needs, like fast and safe payments?
For instance, if you are wondering what a virtual card is, Genome’s practical guide explains it all. Discover how virtual cards work, why they’re a game-changer for secure online purchases, and how they help protect your real card details. Whether you’re shopping online or need a fast payment method, virtual cards deliver just that.
Figuring out the various types of business cards
Bank cards are not something that is only suitable for individuals – they also serve multiple business needs. Not sure if you need one for your company? Well, our team can help, as we explained the advantages and types of business debit cards.
These cards can help streamline company expenses, offer better control over spending, and provide perks tailored to business needs, from managing team purchases to keeping corporate finances in check. And, of course, you can take these cards on a business trip.
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The best cards for international travel
Speaking of – do you often travel internationally? Then, checking out Genome’s guide to the best prepaid cards for international travel is what you need. We have elaborated on key considerations to help you avoid high foreign transaction fees, manage your travel budget effectively, and keep your funds secure while abroad.
On the flip side, using credit cards abroad isn’t always as glamorous as it seems. Learn about the disadvantages of using credit cards while traveling, including hidden fees, unfavorable exchange rates, and the risk of overspending. And, while you’re at it, consider taking a Genome Visa debit card with you instead.
Open banking and iGaming – a perfect match
As new technology gets introduced into the world, people find more and more practical uses for it to improve the quality of life and services for everyone. The same can be said about open banking – it has been making rounds across major industries, offering advanced services. It rings true for the iGaming industry, especially online casinos.
Learn how open banking facilitates real-time transactions, improves security, and reduces reliance on traditional payment networks, positioning it as a game-changer for online gambling platforms.
Catching up with VAT payments for businesses
Value Added Tax (VAT) is a crucial component of business operations, especially in the European Union, where it is mandated across all member states. Thus, making timely VAT payments is essential to avoid penalties and ensure eligibility for refunds.
Our team has provided a step-by-step guide to navigating this process efficiently. It covers everything from gathering the necessary documentation to initiating payments through online banking platforms, helping businesses stay on top of their VAT payments at all times.
Blockchain payments: features and benefits
Digital payments evolve every day, and blockchain-based transactions are a part of this change. Blockchain payment technology enables secure, peer-to-peer payments without the need for traditional intermediaries like banks, making the transactions more transparent.
Find out about how blockchain payments work and if you, as a business or individual, can use them to your advantage.
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in Genome online
Faster Payments limits: how much can you send in the UK
Faster Payments is a great money transfer method for those sending funds within the UK. Still, just as with any money transfer method, there can be drawbacks.
While this system allows near-instantaneous transactions, it’s important to note that there are limits in place, which can vary depending on the bank. Check our team’s insights into these limits before handling high-value transfers using Faster Payments.
Understanding the difference between personal and business accounts
For entrepreneurs and freelancers, distinguishing between personal and business bank accounts is crucial for effective financial management. After all, they might need essential services that are typically not provided within the scope of personal accounts’ capabilities.
Our team dived into this topic, highlighting how business accounts are tailored to meet the specific needs of companies. You can also read more about different freelancer bank account options. Check our blog articles and see if Genome’s online business accounts are what you need for your company to succeed!
Did you miss Genome’s previous month in review? Don’t forget to check April’s updates and learn about the difference between corporate and retail banking, special accounts for freelancers, how much cash you can legally travel with, limits on contactless payments, and more!
