Before starting to make international payments, you first need to request the account details to get a virtual multi-currency IBAN for international transfers. Note that currently, international transfers are available for business wallet users and are executed via the following transfer systems: SWIFT, Faster Payments, CHAPS, and TARGET2.
SWIFT transfers are the primary option for international transfers. However, the Intelligent Routing System is used to determine which transfer system is better suited and to select the most efficient and cost-effective option.
Thus, your transfer can be sent using CHAPS, Faster Payments, or TARGET2 instead of SWIFT.
- Faster Payments are transfers within the UK that are executed in British pounds. These are usually completed instantly or within 2 hours maximum.
- CHAPS is used for high-value business transactions within the UK. Such transfers are executed in British pounds and are completed within 1 business day.
- TARGET2 (T2) is used for large-value payments in the eurozone. Such transfers are executed within 1 business day.
To get account details inside the web version of Genome, you need to:
- Open Genome and select one of your existing business accounts from the Dashboard.
- Go to the Account details menu and click on the SWIFT tab;
- Click the Get account details button to send your request;
- You will receive access to the account details within 1 business day after placing your request.
To get account details when you use the Genome app, go to your Dashboard and tap See all. Select the account for which you want to request details, open the SWIFT tab, and click the Get account details button.
After receiving the account details and a virtual IBAN for international payments, you can always look them up in the Account details menu. Go into the menu and select the SWIFT tab.
You can also click the Copy details button to send the account details to a person/entity you want to request a transfer from.
If you have any difficulties or questions, please contact us at support@genome.eu.
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