Today, in Europe and Malta, as a part of it, the merchant needs a business account to operate properly on the market. However, if one goes to the bank, there will be a lot of bureaucracy, documents, their copies, and time needed. It is much more convenient and easy to open a business account online. But how to do it?
Actually, an online account can be created in a few clicks. Money can be stored in EUR, GBP, and USD. You can transfer money, receive and make payments, and do all other transactions online. If you are going to discover for yourself this type of business account, this article and the presented details are just for you.
How to Open a Business Account: The Beginning
First and foremost, remember that the business account must be secure. No matter where you open a business account – in a traditional bank or an electronic financial institution – you must be sure that the organization is certified in a proper way according to the laws of Europe.
After selecting the financial institution for your business account, carefully study its website. For example, the Genome Account can be created via https://genome.eu/
On the website, all the necessary information is available for the client who would like to open a business account. The procedure itself occurs after registration. Then, the merchant has to:
- Sign up for the system.
- Prove identity with the corresponding documents.
- Provide the data about the company together with the supporting documents.
After the completion of these simple steps, the business account will be opened within 72 hours. It is just amazing and really fast. No wonder an online account is much more popular than the traditional one today.
Main Benefits of a Business Account
When you open a business account, it is high time to discover all its advantages and possibilities. Let us take the Genome Account as an example.
Open multiple IBANs
Money can be generally received and used in EUR, USD, and GBP. Your business account gives the opportunity to create up to 15 IBANs in these currencies. If you operate worldwide, you can receive payments in other currencies, of course – just start a merchant account at Genome.
Exchange currency under the favorable rate
Money can be exchanged inside the system under the 1% fee, which is quite beneficial. Other prices for services are also affordable and transparent. There will never be any hidden fees in your online account.
Create templates and transfer money easily
You can transfer money internationally utilizing SEPA and SWIFT and make fast internal transfers to those of your partners who also use Genome. Another convenient tool to transfer money is the creation of templates for payments and repetition of transfers in one click or even scheduling them if necessary.
Share access to your business account
A team or your employees can easily operate a business account. There are different roles and levels of involvement in the process. Therefore, do not hesitate to invite your colleagues and employees inside the system and share the workload.
Get statements and analytics for the business account
Another useful feature of an online account is the generation of the statements in CSV and PDF, detailed reports, and in-depth analytics. This is very helpful to have control of the business account, respond to changes, and plan future activity.
Turn on real-time notifications in the online account
An online account is useful and convenient because you can turn on notifications about everything that happens with your money. No matter where you are, you can always check the website or the mobile app and see the recent activity in your business account.
Altogether, the life of the merchants has become much easier thanks to a combination of business and merchant accounts. Everything that you have to do is available online; all the procedures are convenient and fast. Of course, this will lead to the development and growth of your company.
Moreover, you will save your time and energy for more interesting tasks than going to the banks and following the bureaucracy of the traditional system. Therefore, create your own account and stay successful.
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