Payment system Genome (Lithuania)

Corporate and personal accounts (multi-currency).

The payment system mainly opens accounts in euros. Additionally, it is also possible to open accounts in US dollars and British pounds, which can be linked to the card for purchases and expenses. Incoming and outgoing payments in these currencies are not allowed.

All incoming and outgoing payments are possible only in euros. At the moment, the payment system only works via SEPA.

There is a function for mass issuance of virtual cards - Genome Wallet.

To open a business account, you must first activate your personal Genome account (wallet).

Provide individual IBAN numbers in Euros for both personal and business wallets.

They open personal accounts for Ukrainians and business accounts for beneficiaries from Ukraine.

They work with hight risk activities, but cryptocurrency and exchange activities are not allowed.

Account opening:

• for all individuals – free of charge;
• for companies with a low risk level – 100 EUR;
• for companies with a high level of risk - 500 EUR.
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A low or high risk level is assigned to a company after an initial compliance check.

None.

Internet banking 24/7.

Account maintenance:

• for individuals in the EEA area – free of charge;
• for individuals outside the EEA – 20 EUR/month;
• for residents of Ukraine - 5 EUR/month;
• for low-risk companies – 10 EUR/month;
• for companies with a high level of risk - 100 EUR/month.

Currency exchange – 1%.
 

SEPA transfers in EUR:

• between Genome users – free;
• incoming and outgoing for low risk level – 1 EUR;
• incoming for high risk level – 5 EUR;
• outgoing for a high level of risk – 10 EUR + 0.2% of the transaction.

SWIFT transfers:

• incoming for low risk level  – 10 EUR;
• outgoing for low risk level  – 20 EUR;
• incoming for high risk level – 30 EUR;
• outgoing for a high level of risk – 30 EUR + 0.2% of the transaction.

SEPA Instant, BACS, Target, CHAPS and Faster Payments transfers are also available.

The process of opening an account consists of two stages: the preparatory stage and the actual stage of opening an account.

The preparatory stage includes the collection and provision of documents necessary to open an account. The duration of the preparatory stage depends directly on you.

The account is opened within 15 business days from the date of provision of all necessary documents and information to the payment system. The review period may increase at the discretion of the payment system.

Genome adheres to the “know your customer” principle and in each individual case reserves the right to request additional information or documents, which may lead to an increase in the time frame for opening an account, and may also refuse to open an account without giving reasons.

Working languages: English, German, Lithuanian and others.

Virtual and physical Visa Genome cards.

Cards are available for personal and business purposes.

Card issue – 10 EUR.

Delivery of a plastic card – 8 EUR.

Activation of a virtual card:
- up to 100 pieces – 1 EUR/card;
- from 101 - 5 EUR/card.

Documents for the company - you must provide the originals of all statutory documents. Moreover, you must also provide activity license (if applicable).

Documents for the account manager:

• original internal passport;
• original passport;
• original identification code;
• CV resume;
• original bank recommendation;
• original utility payment (for gas, electricity) no older than 3 months (to confirm the residential address).

Documents for the company's beneficiary:

• original internal passport;
• original passport;
• original identification code;
• CV resume;
• original bank recommendation;
• original utility payment (for gas, electricity) no older than 3 months (to confirm the residential address).

The payment system may also request documents confirming the source of income (welfare) of the beneficiary. It can be:

• a certificate from the place of employment indicating wages and a personal account statement showing the calculation of wages;
• tax returns;
• documents confirming receipt of inheritance;
• documents confirming receipt of funds as a gift, as well as their availability in accounts;
• documents confirming the sale of movable/immovable property;
• if the beneficiary is the founder of the company - documents for the company, statements of company accounts, tax returns, documents confirming the payment of dividends;
• if the beneficiary is a private entrepreneur - an extract from the register, tax returns for the entrepreneur, bank account statements;
• a certificate from the bank about the presence of a deposit, as well as documents confirmedholding out the source of these funds;
• other documents showing sources of income.

Documents for nominal director, shareholder and secretary (in case of using nominal service by company):

• set of documents affixed with apostille, which includes copies of: passport, utility bill no older than 3 months and power of attorney. (if nominal director, shareholder and secretary are natural persons);
• set of statutory documents affixed with apostille, which includes Certificate of Incorporation, Memorandum, Article of Association, Minutes of the director designation (if director is legal entity). Also may require Certificate of Good Standing affixed with apostille, Certificate of Incumbency affixed with apostille and documents on this director, which includes set of documents affixed with apostille: copy of passport, utility bill no older than 3 months and power of attorney.

You must visit our office to fill out questionnaires, as well as certify documents regarding the company and director. Next, the documents are sent to the payment system to open a personal account; after approval, a business account is opened.

Account opening occurs completely remotely.