Benefits of an IBAN account

Imagine a Google company that has a representative office in almost every country in the world. Within the company alone, there are thousands of money transfers a day, and many of them are made through IBAN accounts. If you plan to develop your business to such heights, you should consider opening a business account for Bank IBAN transfers. Have you already decided for sure that you want to open an account, but don’t know where and how to do it? Then this article is exactly what you need to know about before opening an IBAN account.

What is a Bank IBAN transfer?

IBAN was created to improve the process of money transactions between banks in different countries. What are the benefits of Bank IBAN transfer? It makes it easier to transfer money to other countries, especially within Europe. Thanks to IBAN the number of mandatory details for payments was reduced. It also becomes much easier to identify the payer and the beneficiary, as well as the servicing bank and the country. The convenience of such accounts is that you can store money in euro (EUR) and dollars (USD) as well as in other world currencies.

Where to open an account?

You do not have to go to the bank to open an IBAN account, because there are many e-money institutions on the Internet, which provide an eWallet and online account in 5 minutes! For example, Genome is one of the trusted and reliable institutions, where we advise you to open an eWallet and IBAN account.

Pluses of running a Genome IBAN account

1. Opening an account is a matter of minutes.

Applying for a personal IBAN account online at a Genome electronic money institution takes not more than an hour. In comparison, to open an IBAN account at your national bank, you will have to prepare a list of documents and stand in line. By the way, Genome is licensed by the National Bank of Lithuania, so you do not have to worry about fraud issues.

2. Low commission for money transfer.

1% – this is the percentage commission for the transfer. For comparison, in a bank, the commission percentage reaches 5%.

3. Fast and convenient money transfers

Using Genome, you know for sure that your money will reach the recipient within a few days (generally up to 3 business days). Making a transfer is simple to do online from your phone, tablet, or PC.