Opening an Account in the Genome Payment System (Lithuania)

Genome is a licensed Electronic Money Institution established in 2018 in Lithuania. Its operations are regulated by EU financial legislation and supervised by the Central Bank of Lithuania. 

The Genome payment system is geared toward international business and enables its customers to make international SWIFT transfers to over 65 countries. In addition to SWIFT, the Genome platform supports SEPA payments, SEPA Instant, Faster Payments, BACS, CHAPS, and TARGET2. 

Genome has a well-developed multi-currency infrastructure that allows users to work with multiple currencies simultaneously (EUR, USD, GBP, PLN, CHF, JPY, CAD, etc.). A multi-currency account for international trade is particularly important for seamless collaboration with counterparties around the world. 

Business Account at Genome

For corporate clients, it offers not only the standard option to open a multi-currency account but also a combination of a business account and a payment gateway in a single service. For entrepreneurs, this means there’s no need to open a separate account in one payment system and connect a payment gateway in another. This option is available to all business clients, regardless of turnover. 

Additional services for Genome corporate clients: 

• Open Banking payments – accepting payments directly from customers’ bank accounts via Pay by Bank, SEPA Credit Transfer, and SEPA Instant Transfer; 
• Classic merchant account for accepting online payments;
• Hosted Payment Pages;
• Instant internal transfers between Genome system users;
• Bulk payments and disbursements;
• Shared access to the company’s account for employees, with different permission levels;
• Corporate physical and virtual Visa cards.

Thanks to its wide range of financial services and ready-made payment solutions, Genome is most often chosen by IT companies, SaaS agencies, e-commerce businesses, and international startups that need not only an account with a European IBAN but also a full-fledged payment infrastructure to work with clients throughout Europe and beyond. 

Importantly, opening an account with Genome and accessing all services is done entirely online, without the need to travel to another country. Funds and payments are managed through the Genome web portal or mobile app, which allows you to authorize payments via smartphone and monitor your funds in real time.  

Personal Account with Genome

For individuals residing in the EU and other countries, the Genome payment system offers a variety of options designed for convenient use and account management: 

• Dedicated IBAN Account - a personal IBAN account for receiving and sending international payments. This account can be used to receive salaries, personal transfers, and for everyday transactions, such as paying utility bills and making recurring payments. 
• Multi-Currency Account – a personal multi-currency account that allows you to hold funds and make payments in different currencies without the need for double conversion. 
• Sole Proprietor Account – a sole proprietor account in the payment system, the most popular option for private entrepreneurs and self-employed individuals (such as freelancers and consultants). 
• Google Pay and Apple Pay – support for mobile wallets, essential in today’s world for fast and secure payments.
• Physical Card – a physical payment card for purchases and cash withdrawals worldwide.
• Virtual Card - a virtual card for secure online purchases and subscriptions to digital services.

A business account in the Genome payment system is a comprehensive financial solution for small and medium-sized businesses. After opening an account, customers receive not only a multi-currency account but also a wide range of additional payment tools that allow them to quickly start operating in international markets and accept payments through their own website.

A key advantage of the Lithuanian payment system Genome is that it supports not only corporate clients but also sole proprietors and freelancers. Genome provides them with full access to the financial infrastructure and all the business tools necessary to operate on par with international companies.