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Opening an account in Genome payment system (Lithuania)
- Price:500 EUR
- Term:5-7 days
Genome is a payment system based in Lithuania that provides electronic money services. Founded in 2018, it is legally registered as UAB "Maneuver LT". The company's head office is located in Vilnius, Lithuania, and is regulated by the Bank of Lithuania.
In the first four years of its existence, Genome has evolved from the concept of a simple electronic wallet to a multi-level financial system. It offers solutions for both business and personal needs of users. Genome's services include electronic payments, account management, currency exchange, merchant services, and other financial services, making it a convenient and feature-rich platform for its clients around the world.
- Customers have access to VISA debit cards (including virtual ones) and Apple Pay payments.
- There are no restrictions on the issuance of cards, up to 100 corporate cards - commission 1 euro/card.
- Accounts can be opened in EUR, USD, and GBP. Other currencies will be added in the future.
- When opening a business account in euros, you can additionally open up to 5 accounts in each of the available currencies: EUR, GBP, and USD.
- Work with SEPA, SWIFT, Faster Payments, TARGET2, CHAPS, and BACS transfer systems.
- There are no restrictions on working with USD.
- For new clients, a limit is set: 100,000 euros for incoming and 100,000 euros for outgoing transfers. As you use the account, the limits gradually increase.
- Receipts to the merchant account are available in 20 currencies, but they are automatically converted into the account currency: euro, dollar, or pound.
- Each client is assigned a personal manager and a development specialist for API integrations.
- Genome integrations with DECTA, Worldline, Shopify, PrestaShop, OpenCart, OXID, Woo, Magento, and Drupal are available.
- There is a distribution of roles in account management: director, CFO, analyst, and accountant.
- For Lithuanian companies there are preferential conditions for commissions and transfers, and for Ukrainians - personal accounts are free.
Genome serves corporate and private clients from many countries around the world, including Europe, Britain, New Zealand, Hong Kong, Singapore, Switzerland, Ukraine, Great Britain, and others.
They do not work with sanctioned countries and prohibited activities, but they consider it a high risk. Companies registered in Liechtenstein, Curacao, and the Isle of Man are considered high-risk.
Genome opens personal and business accounts, as well as accounts for Ukrainian individual entrepreneurs.
Merchant account services are provided for companies of different risk levels.
Genome allows you to open accounts remotely. However, you must first open a personal account in the name of the director (manager), after which you can open a business account.
The process of opening accounts with Genome includes several steps:
1. The manager must first register and open a personal account. This involves providing the necessary information and documents for personal identification.
2. Once all required documents and data have been submitted, they will be reviewed to ensure compliance with all safety and regulatory requirements.
3. After successful verification of the manager’s personal account, you can begin the process of opening a business account. This includes providing additional information about the company and its activities, subsequent compliance verification, and formation of a tariff plan.
Please note that according to international standards for opening accounts, each payment system is required to adhere to the KYC procedure, and therefore will require documents and data confirming identity, business, and wealth for identification. Also, a financial institution may, based on its internal rules, refuse cooperation without giving reasons.
In order to avoid such negative consequences, contact specialized lawyers for preliminary consultation on opening foreign accounts, and we will tell you all the nuances of how to open an account in the Genome payment system.