How to open a business wallet?

To get a business IBAN, you need to have a verified Genome personal wallet. A business wallet can only be opened for officially registered companies and only by the director or a person appointed by the Power of Attorney (PoA).

NOTE: You don't need to start another personal wallet to unlock a business wallet - use your already existing personal wallet to save time and simplify the process. 

However, if you don't have a personal wallet inside Genome yet, please follow the instructions below. 

Also, if you are starting a personal wallet with a goal of unlocking a business wallet after, please make sure to check the “List of permitted countries for the legal and natural clients”, as well as the “List of prohibited activities” for businesses. 

How to open a personal wallet if you DON’T have it yet

To start a personal wallet registration, we highly recommend that the director/or a person appointed by the PoA download the Genome app. You will need the app to verify your identity.

1. Once the app is downloaded, you will be asked to provide your personal information (name, surname, date of birth, and address).

2. After personal information is provided, you will be asked to add and verify your phone number via SMS code (if you already did it while creating the account, this step will be skipped.) Please note that you must use your personal phone number, not the company’s one.

3. After the phone number is verified, enter your email address and verify it with a code that will be sent to your provided email address. Please note that you must use your personal email address, not the company’s one.

4. After the mentioned steps are completed, you will be asked to answer a few questions regarding the planned payment destinations.

 5. The last step is to verify the identity document. You will need to upload a photo of your document. Afterward, you will be asked to make a selfie video.

 6. After submitting your details, verification typically takes 15-20 minutes, but in some cases, it may take up to 1-2 business days. You will receive a notification once your account is ready.

How to start a business wallet using your existing personal wallet 

Once your personal wallet is fully verified, you will receive a notification and an email regarding successful registration. After the notification is received, you can proceed with a business wallet registration:

1. After a personal wallet verification, you will find your name indicated in the top-left corner. Clicking on your name will let you enter a new menu used to open your Genome business wallet. The business wallet will be added automatically after clicking on the "Add business wallet" button. 

2. To proceed, please click "continue" on the business wallet dashboard.

3. After pressing “continue,” you will be asked to select your business type, business activities (for secondary business activities, you may choose up to 5 options), number of employees, business model, and public procurement. Make sure to check the “List of prohibited business activities” at Genome.

4. After that, you will be asked to submit your company's financial information (Take note that if your financial turnover is calculated in another currency, indicate the approximate amount in EUR).

 5. The next step is to submit your business registration details (company name, registration number, company email address, company phone number). The submitted information must be exactly the same as it appears on the official documents. 

NOTE: for more information, please check our guide on required documents for business application, including the PoA form and AML questionnaire for Gambling companies. 

 6. Afterward, you will be asked to enter your company's registration address, which is registered with the government body.

 7. After that, you will be asked to submit your company's tax residency information. If you don't have a TIN or are experiencing other issues, check the box to confirm it.

 8. The next step is to provide a reason for opening a business wallet.

 9. After the mentioned steps are completed, you will be asked to answer a few questions regarding the planned payment destinations.

10. Afterward, you will be asked to submit the required documents for verification of the company (proof of company registration, shareholders, directorship, ownership, articles/memorandum of association).

11. Lastly, you will be asked to provide information regarding the company's ownership structure. Please check our guide on ownership structure if you face any issues.  

After submitting all the details, verification typically takes up to 3 business days. You will receive a notification once your account is ready. Please ensure that all the data is provided correctly. Mistakes directly affect the timeframe of the onboarding process. Some additional items might be requested during the onboarding process.