Services on the platform include a global IBAN account, 3 multi-currency accounts, and a payment gateway.
Pricing is split between high-risk and low-risk companies as well. Exchange rates start from 1% on both risk levels.
Overview
Account | Monthly Fee | Exchange rate | Transfer fees | Multi-currency account |
|---|---|---|---|---|
Low Risk | €10 (€100 if paid yearly) | 1% | €1 | 3 multi-currency accounts + global IBAN account |
High Risk | €100 (€1000 if paid yearly) | 1% | from €10 + 0.2% | 3 multi-currency accounts + global IBAN account |
- A wide-ranging account that caters to most business types, with competitive exchange rates of 1% for cross border payments in both high and low risk cases
- Merchant payment processing across POS, APIs and pre-built gateway options, all linked to relevant accounts as needed and with analytics provided
- Account limits which start at €100,000 per transaction but increase in time
- Virtual cards have an initial activation fee of €1 per card for the first 100 cards, whereas most other providers offer this service for fee
Features | Insight |
|---|---|
Batch payments | Instantly send batch transfers with SEPA or Genome instant transfer system or schedule them for later. There are no restrictions on the volume and the amount. |
Security | All transactions are protected with advanced security measures, including compliance with PCI DSS and PSD2 regulations. |
Customer service options | Get support via online chat, email, and through social media. |
Integrations | Multiple integration options into popular e-commerce marketplaces and existing systems through plugins. Systems include Shopify, Drupal, OXID Sales, or custom via API. |
No transaction limits | The initial limit is €100,000 for incoming and €100,000 for outgoing transfers. These limits can be increased by contacting support. |
API for Money Transfers | Offers an API to integrate Genome’s money transfer capabilities directly into your system. |
Cards for advertising | A specialized card designed to manage and track advertising expenses, simplifying budget control and analysis. |
Dedicated IBAN account | Get up to 5 unique IBANs in USD, GBP, and EUR for secure transactions and easier international money transfers within the Eurozone and beyond. |
Financial pixel | A tracking tool that helps you analyze customer behavior and optimize conversion rates by linking website activity with financial transactions. |
Genome internal transfers | Facilitates instant, secure transfers between Genome users at no additional cost, ideal for businesses managing multiple accounts. |
Genome token | A loyalty program feature that rewards businesses for using Genome’s services, which can be redeemed for various benefits. |
Host-to-host payments | Facilitates direct and secure payment processing between businesses through API integration, bypassing intermediaries. |
International money transfers | Get access to global money transfers outside the SEPA zone with competitive fees and quick transfer times. |
Local payment methods | Get access to various regional payment options, catering to local customer preferences. |
Merchant analytics | Detailed reporting and insights into transactions, chargebacks, and other KPIs. |
Physical corporate card | Get a physical card with additional security features. |
Virtual corporate card | A digital version of the corporate card, ideal for online transactions and easier expense management. |
Supported currencies and account options
There is a wide range of options for Genome multi-currency accounts.
Supported currencies are: AUD, CAD, CHF, CZK, EUR, GBP, HUF, JPY, PLN and SEK.
This is fewer options than with Sokin or Wise, where you can hold up to 75 or 40 respectively.
Making payments
Genome does not have to be used purely as a multi-currency platform and also supports internal and cross border payments as an individual service. This is similar to Wise Business or Sokin.
Faster Payments, BACS, Chaps and Target 2 all supported as transfer methods. This gives access to a huge amount of the market. Again, if working in a restricted industry you may be liable for a slightly higher fees.
However, with the range of payment options, payments are usually complete within a day or so. This puts Genome in the same range as many providers on the market.
Limits on accounts are set in EUR, and transfers in and out will be capped at €100,000.
Once you have completed some additional details in the account, and the business wallet is being used, it is possible to increase this limit.
This will be on a case-by-case basis and could also be subject to being lowered in the future.
Ecommerce offering
As of September 2024, Genome has said its merchant related services are currently unavailable. As of yet, there is no timeframe on when this might change.
For businesses looking for multi-currency and payment gateways combined, we currently recommend Sokin.
Genome has an ecommerce offering which covers marketplace integrations and a hosted payment gateway. Here's how each of them stack up.
Integrations
For merchants there's support for Shopify, Opencart, Drupal, Prestashop, OXID, WooCommerce and Magento.
These come in the form of plugins on each of the platforms and allow you to take payments directly into each account.
Payment gateway
The hosted payment gateway offered by Genome will allow you to receive payments through a custom setup. This includes full security and fraud protection, and also supports subscription payments.
Genome fees for low-risk industries
Genome fees for low-risk industries are relatively competitive against others, and for those accepting payments can be particularly good. However, for a full end-to-end payment system, a company like GoCardless might be a better option.
Service | Fees (EUR) |
|---|---|
Initial EUR IBAN account opening | €100 |
Monthly account fee | €10 month or €100 year |
Additional (EUR or multi-currency) account opening | N/A |
Monthly multi-currency account fee | N/A |
Monthly administration fee | 0% (Charged monthly as a percentage of the monthly average balance) |
Account confirmation letter | €5 |
Account balance confirmation for audit purposes | €20 |
Dormant account fee | €100 (Applies monthly after 6 months of inactivity until the balance reaches 0) |
Funds safekeeping fee | 0.005% (min €1) |
Code generator (Token) | €50 |
Genome fees for high-risk industries
High-risk industry prices are higher, but for regulated companies working in the gambling space, for example, Genome does offer a viable multi-currency solution that has exchange rates and other features hard to find elsewhere.
Service | Fees (EUR) |
|---|---|
Initial EUR IBAN account opening | €500 (€1000 for Curacao-based companies) |
Monthly account fee | €100 per month or €1000 per year |
Additional (EUR or multi-currency) account opening | €1000 (USD account), €500 (other currencies), €0 (additional EUR account) |
Monthly multi-currency account fee | €100 |
Monthly administration fee | 0.5% (Charged monthly as a percentage of the monthly average balance) |
Account confirmation letter | €5 |
Account balance confirmation for audit purposes | €20 |
Dormant account fee | €200 (Applies monthly after 6 months of inactivity until the balance reaches 0) |
Funds safekeeping fee | 0.005% (min €1) |
Code generator (Token) | €50 |
Eligibility
Eligibility with Genome is split into low and high-risk options, with some territories and industries still omitted.
Business types
Countries
Products offered by Genome
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Signing up for Genome
Visit the Genome Website
Go to the Genome website page and click the “Get Started” button. Ensure you have an ID and smartphone ready as you will need to verify your identity.
Create an Account
Enter your email and create a password to register. You will need to confirm your email address to proceed.
Verify Your Identity
Use a valid ID document and your smartphone to complete the identity verification process. This step ensures compliance with regulatory requirements.
Complete Business Details
Provide detailed information about your business, including registration documents, ownership structure, and address. Once submitted, Genome will review your application, typically within 72 hours.
Companies using Genome
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