| 1:49 pm on Aug 26, 2005 (gmt 0)|
I think what it comes down to for you is by asking yourself, even though the dollar is stronger, is it worth the time it takes to clear for you to recieve payments in USD or not. Meaning, weigh it out against your currency first, so that if let's say you are getting a check in USD for $200, what would that equal to in your currency for 30 days, and aside for patience, do you need your adsense money immediately, or is it something you can wait for?
| 2:10 pm on Aug 26, 2005 (gmt 0)|
|Is the commission of 1.12% - 1.33% justified, given the normal industry standard is normally lesser than that. |
Don't move to Europe then!
Google gives you the commercial mid-market rate which is virtually impossible for anyone but a dealer or bank to obtain. Banks in Europe will charge anywhere from GBP 5-20, say Euro 8-30, for the privilege of depositing it in your account.
Unless you have a business deposit currency account when you decide to exchange it they will exchange it at up to 10-15% either side of the mid-market rate, business accounts usually fair better at about 5%.
Note, I am just giving generalised figures here for Europe however I have to question your statement:
|given the normal industry standard is normally lesser than that. |
I have travelled to India for the past 30 years and never seen such legal exchange rates...you're getting a very special deal at 1.12-1.33%.
Now street deals are another thing:-)
| 2:33 pm on Aug 26, 2005 (gmt 0)|
I want to add a bit more to this since I've just checked my Google account and with my bank.
Bear in mind this is for the US Dollar to GB Pounds.
Today's mid-market rate according to xe.com is 1.8071
Barclays Bank to convert from my US Dollars to GB Pounds is 1.8202.
Google's conversion rate for this month's earnings 1.8089.
Remember this, your situation may be different, I do not have to wait for the cheque to clear since it is already in GB Pounds plus I am also not charged for depositing it whereas I would be into my US Dollar account.
| 2:52 pm on Aug 26, 2005 (gmt 0)|
Banks rates are usually much lower than RBI rates and the amount is significant only if you make more than $1000. which bank do you use?
| 8:15 pm on Aug 26, 2005 (gmt 0)|
hi caran1, i am using icici primarily. i dont mind using citibank or even sbi for that matter.
my experience with icici has been good. exchange rates are way better than google, and additional approx rs. 250/- is charged. the %age still comes around <1% i think.
the advantage of getting in usd also seems to be in filing tax returns etc as I can easily get FIRC certificate from the bank as the proof of income.
| 8:44 pm on Aug 26, 2005 (gmt 0)|
I checked the amount I was paid by google
I checked this amount today on www.xe.com, to give
2,783.64 USD = 1,545.96 GBP
In my account appears
Nearly 20% difference.
Can anybody explain this?
| 8:46 pm on Aug 26, 2005 (gmt 0)|
Welcome to WebmasterWorld gideonboulton,
you would have to check the spot rate on the day the payment was actually issued/converted for the basis of your comparison.
| 8:54 pm on Aug 26, 2005 (gmt 0)|
I dont know what i am going to use ICICI , SBI $ or INR, still waiting for my first ..... no not $ 100 month but $ 1.00 day
| 9:00 pm on Aug 26, 2005 (gmt 0)|
|Nearly 20% difference. |
Can anybody explain this?
Wow...USD 400 difference!
I'd get on to them straight away, point out the mistake and ask where the balance is or the reason for the shortfall in payment.
| 9:42 pm on Aug 26, 2005 (gmt 0)|
The data shown above by author of thread is not applicable here.
There are several type of exchange rates.
when you are deposting a INR check from a USA based company you are selling your USD and buying INR ,so "Cash Buying" rate is applicable.
and cash buying rate was 43.10 on 25th August 2005.
so google give more than expected (43.18).