SWIFT transfers
How to's
Genome expands with 4 more currencies – 11 total for your use! How to benefit from them?
In October 2024, Genome introduced Polish zloty (PLN), Swiss franc (CHF), Japanese yen (JPY), and Canadian dollar (CAD) as new currencies for your accounts and other services. Then we thought – why stop there? And thus, later on, we introduced 4 more new currencies: Czech koruna (CZK), Hungarian forint (HUF), Swedish krona (SEK), and Australian dollar (AUD). This brings the total number of currencies in which you can open an account to 11, including our originals: euro (EUR), US dollar (USD), and British pound (GBP). So, how can you use and benefit from all these currencies inside Genome? Let’s take
Business services
International business payments: a comprehensive guide for 2024
Cross-border transactions are one of the main pillars that make business truly international. Companies of all sizes constantly engage in international payments, navigate through currency conversions, and use different payment methods. In this article, our team will cover the most common ways to make cross-border payments and explain how international payments work. What are international business payments? International business payments are financial transfers made between companies or companies and individuals for business purposes. The payer and the beneficiary are located in different countries, so such transactions are considered international. Many transaction types can fall under the broad international business payment
Product news
Take your business payments worldwide with international transfers!
Is your company ready to majorly improve its financial operations and expand its money transfer capabilities? Genome has paramount news for you! Our business wallet users can now send and receive international payments from over 40 countries! They can also receive Faster Payments, BACS, and CHAPS within the UK and benefit from the reliability and security of TARGET2 payments. We are talking about all major destinations, such as the US, Japan, Canada, Australia, and dozens of European countries. With our easy-to-use, seamless transfer feature, you can make and schedule international transfers to your business partners, employees, contractors, etc. The SWIFT
Business services
How to send money transfers internationally: a guide for companies
No bank account is complete without the ability to send and receive funds. It especially concerns companies, as their production cycles and customer relations depend on this financial feature. And, for many businesses, there’s a need for international business payments. In this article, Genome’s team will explain how companies can make international payments and which transfer options are used for this. What are international business payments? International payment is a type of payment that occurs between two entities that are located in two different countries. Even if countries are situated right next to each other, for instance, Germany and Netherlands,
Money and you
Wire transfer vs bank transfer: understanding the differences
The article was updated on 12.12.2024 To common users of banking services, money transfers are money transfers. As in, you don’t consider them complex – they are just tools for receiving and sending money. But then, you face many terms like bank transfers, wire transfers, electronic payments, online transfers, etc. And you start to wonder – “Is there a difference between all of these?” and “What should I use?”. Well, let’s figure it out together! In this article, Genome will primarily focus on bank transfers and wire transfers and how they differ when it comes to sending money. What is
Money and you
Understanding modern cross-border payments
The article was updated on 10.12.2024 There are so many kinds of money transfer options worldwide that not even financial experts can name all of them on the spot. However, in many cases, various payment types are grouped by common purposes or other metrics. It is where cross-border payments come into place, as a number of payment and transfer options can be classified as such. In this article, Genome explains what a cross-border payment method is and provides cross-border transaction examples so you can select the option that suits you the most. We also explore the advancements and improvements in
How to's
Money transfers at Genome: options, fees, transfer execution times
Article was last updated on May 8th, 2024 Money transfers are one of the first features you look for when choosing a financial provider. So, it was crucial for our team at Genome to design and offer you the most essential and convenient options for sending funds. Let’s go over our money-transferring services and answer your questions about our features. Where to find Genome’s transfers? You can access all Genome’s transfer options from the main dashboard. If you use the web version, the Transfers section will be in the left-side menu. And for the app users, the Transfers section is
Business services
The difference between ACH and wire transfers: which option to choose?
Money transfers are integral to any person that uses the financial services of banks or payment service providers. It is no wonder that there are many types of transfers, such as ACH or wire payments. So, our team at Genome decided – why not explain what ACH and wire transfers are and the difference between wire transfers and ACH? Let’s get to the bottom of this right away! What you need to know about the ACH bank transfer The ACH money transfer is an electronic payment method made with the help of the Automated Clearing House network. This way, the
Business services
International payments for business: how to transfer money
Lately, our team has embarked on a journey of describing all the main aspects of financial services for companies. And now, it is time we explain how you make international money transfers for business. Interested? Read on and find out more – with Genome! What is an international money transfer? An international money transfer refers to a process of you using a certain transfer system to send funds abroad, as opposed to when you transfer money domestically – within your country. So, you can make personal as well as international payments for business. Usually, international transfer involves more than one