GenieChecking will allow merchants and consumers to set up checking accounts without a need for stringent requirements. The company said it has no credit check or employment verification. It will also not ask for a credit card account or bank information, and the process is simple.
This system will allow anyone to issue an e-check and send a copy online. It has no risk of overdraft and forgery. It is linked to a Genie Cash Box account, so the checks are widely accepted. You can deposit the check into a traditional bank account.
GenieChecking is one of the products of Genie Gateway, an advanced payment processor that empowers businesses to accept payments without needing a bank account or credit card. The company designed the system so that it does not discriminate against companies that traditional acquiring banks cannot approve.
GenieChecking does not directly say that it supports all high-risk merchants. However, the company’s structure makes it so that it can process all types of payments for all kinds of businesses. This also includes high-risk businesses that have trouble getting approvals from regular banks.
The Genie Cash Box acts as the virtual point-of-sale (POS) system for GenieChecking. The merchants will use the cash box as an invoice generator. All they need from the customers are their mobile numbers. That way, the customer only has to approve the transaction so that the amount can be debited from their accounts.
Account-holders can also use GenieChecking for peer-to-peer payments. You can easily transfer funds to family members and friends without accessing your bank accounts. P2P payments have always been a challenge for traditional banks and credit unions. GenieChecking will make the process easier.
Genie Gateway also issues what it calls a debit card. But with this, users don’t need to provide their personal and financial information to a bank or the merchant. Instead, the merchant will enter the card number, and the users will receive a confirmatory message that they need to answer with a “yes” or “no.”
GenieChecking does not publish its fees, rates, and pricing. It said on the website that it’s free to set up a checking account with the company.
There is no information about any additional fees for GenieChecking or Genie Cash Box.
GenieChecking says it has no hidden fees.
There are no formal complaints filed against GenieChecking or Genie Gateway.
There are no rip-off reports about GenieChecking.
There are no other complaints about GenieChecking.
GenieChecking and Genie Cash Box are listed on the Better Business Bureau (BBB) under their parent company’s name, Genie Gateway. While the company is listed on BBB, it has no accreditation and no rating. The company does not have reviews or complaints on the site.
BBB gives a rating between A+ and F. It sometimes also gives an NR rating when the company is listed but has not been rated yet. Merchants and customers often check the bureau when they want to know about a company’s reputation.
GenieChecking has no reviews on the BBB website.
GenieChecking doesn’t have a strong presence on the internet. In fact, the company has no profile on social media platforms and business networking sites. Although it has a website, it doesn’t look like there’s any other information there. Also, there is no mention of the company on leading review sites and online forums.
ScamAdviser said that GenieChecking’s website has an average to good trust score of 100/100, while Genie Cash Box has a 35/100 trust score. For GenieChecking, the positive highlights are the site being set up years ago and the valid SSL certificate. On the other hand, the negative highlights include the website not being optimized for search engines.
For Genie Cash Box, ScamAdviser also took note of the valid SSL certificate and the year when the website was set up. However, it flagged the website for having a low Alexa rank.
ScamAdviser said GenieChecking is safe to browse. But for Genie Cash Box, the tool said it might be very unreliable. It is better to do your own check of the site.
GenieChecking does not have any scam reports.
There are no lawsuits against GenieChecking.
Unlike other payment processors, GenieChecking does not have client testimonials, and neither does the Genie Cash Box. Even its parent company, Genie Gateway, does not have customer reviews online. After checking common review sites and online forums, no review can be found about the companies.
It is hard to recommend GenieChecking, although it has a website and its parent company, Genie Gateway, has a claimed listing on BBB. If you still want to check both GenieChecking and Genie Cash Box, do so at your own risk. You should check with the agents or ask forums and online communities if they have heard about or used these platforms.