The financial institution Genome has a disastrous, disastrous attitude towards its clients. Personally, I have had KYC continuously since I opened my Sepa account with them. What bothers me is that they ask completely private questions that have nothing to do with the financial transactions between me and them. They do not read the complete messages you send them. They do not understand that if you are a director and owner and if you have an expense, such as driving your own vehicle, and you do not claim this money from the company, that this is not money laundering, but a travel expense, for which I have sent them 3 x documentation and there is still no understanding... In short, their attitude towards their clients is disastrous, which is also visible in the rating itself. I know that they will write now that they have strict rules and that they work according to the law. Which of course is not true, of course it is correct that you work according to the law, but do not exceed the law. Today it is really not difficult to check whether a person is really a director, owner of a company. Is it possible to be a procurator and similar information. So if the data is true, you as a financial institution cannot claim that this is not true and reject the application.
I still have some time and I can continue, because there is a lot on the business front.
So, as a service provider, I believe that their task is to check the data on individual companies, who the owner is, I handed them a huge amount of documents that I received from the notary at the time of opening. If I wanted to meet all their criteria, I could sit at the computer all day and answer their requests. Probably even a physical bank in their country does not set such conditions as they do. I know from my own experience that on the European market, most banks demand the same (Slovenia, Germany, Croatia, Slovakia). After all, we are also their valuable customers, which we should be aware of, and an unfriendly attitude towards a customer goes much further than a friendly one.
I suggest caution in business, I believe that the institution is not suitable for serious business. Sebastjan.
PS.
Their response is exactly as I expected, no gibberish, copy past, they Not read what someone writes to them... Proof that my post is completely true.
Sebastjan
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Genome is a licensed Electronic Money Institution regulated by the Bank of Lithuania since 2018.
We provide online financial services for businesses, merchants, and individuals across Europe and globally. Our services include dedicated IBAN accounts, SEPA Credit and Instant transfers, SWIFT transfers for businesses, multi-currency accounts, currency exchange, and virtual and physical Visa debit cards.
For merchants, Genome offers pay-by-bank payment acceptance through open banking, enabling fast, secure, and cost-efficient transactions without cards.
Genome brings payments, accounts, and merchant services together into a single, regulated financial ecosystem designed for international operations and growth.See more
