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This 79 message thread spans 3 pages: 79 ( [1] 2 3 > >     
Canada AdSense Payment Currency Conversion Issues
jbayabas




msg:3775729
 1:08 pm on Oct 29, 2008 (gmt 0)

I just received my PiP. The Canadian exchange rate that Adsense set was 1.185 which is quite low. The real Canadian exchange rate in the last few days (even now) is at around 1.25.

Big difference if you earn so much from Adsense ads. EX. if you earn $4000 in adsense, your conversion will be $4720 at 1.185 rate. But if you calculate with 1.25 rate, the conversion is $5000. So you lose almost $280. That's huge!

Im surprised, AS used to have a good competitive dollar conversion rate. Now their rate is even worse than the bank!

 

WordsnCollision




msg:3775759
 1:53 pm on Oct 29, 2008 (gmt 0)

Just noticed the rate - #*$!? The Canadian dollar was trading this morning at just under 1.25 (80 cents) and the rate was even more favorable yesterday. Where does 1.185 come from? On a $360 payment i get $425 when at 1.25 i would've rec'd $450.

Swanny007




msg:3775769
 2:04 pm on Oct 29, 2008 (gmt 0)

Me three. I expected the rate to be at least 1.20 considering the actual exhange rate has been around the 1.25 mark in the last few days.

They must set that rate based on a specific day this month, it must have been last week sometime ;-)

India got a 1:1 exchange rate this month, be glad you didn't get that! I doubt G will do anything over a few percentage points, I'm just going to accept this... although I may switch to cheque payments so I can get the better rate from the bank if they do this again next month...

gunface




msg:3775770
 2:08 pm on Oct 29, 2008 (gmt 0)

Glad someone else noticed this..... anyone know what's going on?

When I used to cash the cheques at my bank, I would always get a lower rate there as well (but not this bad). I'm tired of getting short-changed!

Isn't the exchange rate -the- -exchange- -rate- ? How can it vary depending on who's processing?

zett




msg:3775805
 2:37 pm on Oct 29, 2008 (gmt 0)

anyone know what's going on?

Cashflow management? After all, we're in the middle of a global financial crisis.

ElvisFan




msg:3775806
 2:41 pm on Oct 29, 2008 (gmt 0)

Just got payment conversion to Aussie dollars and the exchange rate is just way off... I did a check at my Aussie bank exchange rate over the last two days and adsense is off by about 150 Aussie dollars...

I do hope that enough of us complain adsense will listen... then again I still believe in the tooth fairy...

gunface




msg:3775808
 2:43 pm on Oct 29, 2008 (gmt 0)

Well I should hope not.... that's ridiculous if they just decide that they can just "take a little of the top" because they need the extra cash...

But cutting us out of a favororable exchange rate doesn't change their out of pocket expense anyway...

Doesn't really make sense...

GeorgeK




msg:3775823
 2:58 pm on Oct 29, 2008 (gmt 0)

Yes, it should have been more like 1.27. You can see the exchange rate graph the past few days at:

[finance.google.com...] (Google)

yahoo finance [finance.yahoo.com]

Since the payment date was October 28, the *worst* rate of that date was 1.27, and intra-day it was almost as high as 1.30.

[edited by: jatar_k at 6:04 pm (utc) on Oct. 30, 2008]
[edit reason] fixed sidescroll [/edit]

stuartmcdonald




msg:3775827
 3:00 pm on Oct 29, 2008 (gmt 0)

Very crummy rate from USD to AUD as well.

Consider this, month on month:
Payment made 28/8/2008 Exchange rate 1.165 (Oanda) 1.168 (Google) - Diff 0.003 in Google's favour
Payment made 26/9/2008 Exchange rate 1.194 (Oanda) 1.187 (Google) - Diff 0.007 to Oanda by a tad, I can live with that.
Payment made 28/10/2008 Exchange rate 1.634 (Oanda) 1.487 (Google) - Diff 0.147 to Oanda not happy!

Even taking into account the rate Google gets may not be the equiv to the interbank rate quoted by Oanda, you would nevertheless expect them to be off by a similar amount each month.
[edited to correct rates]

[edited by: stuartmcdonald at 3:07 pm (utc) on Oct. 29, 2008]

GeorgeK




msg:3775836
 3:05 pm on Oct 29, 2008 (gmt 0)

Also, the Bank of Canada "noon rate" was 1.2943 on October 28, 2008:

[bank-banque-canada.ca...]

Swanny007




msg:3775853
 3:17 pm on Oct 29, 2008 (gmt 0)

Well who's going to contact Google to tell them the exchange rate is "wrong"?

GeorgeK




msg:3775855
 3:18 pm on Oct 29, 2008 (gmt 0)

I already did.

gunface




msg:3775860
 3:25 pm on Oct 29, 2008 (gmt 0)

Sweet, GeorgeK...

Let us know what you find out!

GeorgeK




msg:3775869
 3:31 pm on Oct 29, 2008 (gmt 0)

If Markus Frind from PlentyOfFish.com (maybe #1 in Canada for AdSense, unless there's a newspaper or other site that tops him) contacted them, that might receive a faster response. I just posted on his blog. :)

jbayabas




msg:3776104
 6:42 pm on Oct 29, 2008 (gmt 0)

Thanks, GeorgeK. Give us an update okay?!

Crystal Pegasus




msg:3776125
 7:17 pm on Oct 29, 2008 (gmt 0)

We were a bit annoyed by our Aussie exchange too. We ended up losing several hundred dollars on what our research of the exchange rate should have been...

potentialgeek




msg:3776253
 9:48 pm on Oct 29, 2008 (gmt 0)

Google had a glitch with its exchange rate payment calculation a few months ago. Is this a new one?

Canadian AdSense Payment Issued with Incorrect Exchange Rate

[webmasterworld.com...]

"Yes, I'm finally seeing a payment in progress for what appears to be the balance of the month end's payment due as a result of an incorrect exchange rate. And the amount looks correct. Didn't take out my calculator and figure it out to the penny but it looks close enough for rock n' roll."

I suspect it's another glitch. Google would lose a lot of respect and good will for shady dealings with exchange rates. Choosing the lowest exchange rate of the month will anger a lot of people including those who aren't publishers. It may even be illegal.

p/g

LifeinAsia




msg:3776264
 9:59 pm on Oct 29, 2008 (gmt 0)

The Canadian exchange rate that Adsense set was 1.185 which is quite low. The real Canadian exchange rate in the last few days (even now) is at around 1.25.

The exchange rate in September (when you EARNED the revenue for your October payment) was between 1.03 and 1.07 (interbank rate). Why should today's exchange rate have any bearing on the rate used to pay you?

gunface




msg:3776269
 10:13 pm on Oct 29, 2008 (gmt 0)

LifeinAsia,
Yeah, I don't think so.

Exchange rate applies at the time of the transaction. Using your logic, if I bought a pair of shoes from the States that were made in 1970, I should be paying whatever the rate was back then?

Google's own text that appears right below my payment info:
"Payments are converted to local currency at the prevailing rate at time of payment processing."

[edited by: gunface at 10:15 pm (utc) on Oct. 29, 2008]

Swanny007




msg:3776270
 10:14 pm on Oct 29, 2008 (gmt 0)

LifeinAsia. The reason it has a bearing is because had the big G paid us in cheque format, we would have got today's exchange rate when we took it to the bank. So in essence we are losing out due to them being able to set the exchange rate at whatever they wish.

I'm interested to hear the response to GeorgeK. I speculate that their response is going to be either a "glitch" or "we base the exchange rate on the day we authorize the release of funds" or something to that effect... which could have been last week, two weeks ago, etc. I suspect the latter is the reason for the lower exchange rate.

Swanny007




msg:3776272
 10:15 pm on Oct 29, 2008 (gmt 0)

"Payments are converted to local currency at the prevailing rate at time of payment processing."

Well there's our answer. It's simple, Google submitted our payment to the bank last week at the lower rate ;-) We'll that's my guess, now we wait...

gunface




msg:3776275
 10:18 pm on Oct 29, 2008 (gmt 0)

But that's not the answer, because my payment was processed today at the rate of 1.185

LifeinAsia




msg:3776283
 10:25 pm on Oct 29, 2008 (gmt 0)

Google's own text that appears right below my payment info:
"Payments are converted to local currency at the prevailing rate at time of payment processing."

OK, I stand corrected.

Exchange rate applies at the time of the transaction. Using your logic, if I bought a pair of shoes from the States that were made in 1970, I should be paying whatever the rate was back then?

No, manufacturing is not a "transaction." The transaction takes place when you pay the money for them. If you paid money for them in 1970, then yes, you should have paid what the exchange rate was in 1970. :)

spander




msg:3776295
 10:45 pm on Oct 29, 2008 (gmt 0)

I don't think it's Google to blame. It's the bank they deal with that is giving the rate.

The rate did drop a couple of % later today, but at the time of issue, if I had their check in my hand I would have gotten 26% from the bank. A huge difference.

Visi




msg:3776296
 10:50 pm on Oct 29, 2008 (gmt 0)

Not quite sure where these rates are coming from. Todays rate is CAD to USD at 0.8189 and lowest (or highest) it has bee in more than a year wa 0.77 on the 27th. No where near the 1.29 quoted here, Googles rate is in the .82 range, well within the movement of the past few days.

spander




msg:3776304
 10:57 pm on Oct 29, 2008 (gmt 0)

The 1.29 is the Bank of Canada rate. Not the same as regular bank's buy or sell rate.

Here's the rates I use:
[tdcommercialbanking.com...]

The second column under US BORDERLESS PLAN is what I always receive when selling U.S. checks.

Even after today's huge drop (or gain), we still should have received more. And it was about 4% higher at the time of issue.

GeorgeK




msg:3776329
 11:43 pm on Oct 29, 2008 (gmt 0)

Visi: 0.8180 is the number of US dollars per Canadian. To convert from US *to* Canadian, you need the inverse, i.e. the number of Canadian dollars per USD. That's where the 1.29 is. If you're not familiar with foreign currency trading, it's not a hard mistake to make. See the Google graph of:

[finance.google.com...]

vs

[finance.google.com...]

GeorgeK




msg:3776331
 11:48 pm on Oct 29, 2008 (gmt 0)

By the way, I heard back, and so far no success in changing the rate to what it was on the 28th. If others are having the same problem for Canada, it might help if you contact AdSense support too.

Visi




msg:3776342
 12:26 am on Oct 30, 2008 (gmt 0)

Actually that is 1.00 us/1.29 or .77 usf for each canadian dollar but that was only a spike of 1 day.

You are going to get between .77.8 to .84 usf for each canadian dollar depending which day the transaction occurred on. Th dollar dropped dramatically but only in a very limited time frame.

[edited by: Visi at 12:38 am (utc) on Oct. 30, 2008]

ElvisFan




msg:3776349
 12:45 am on Oct 30, 2008 (gmt 0)

Only a guess..I do believe adsense has outsourced their payments department and whatever bank they are using is offering a very bad TT exchange rate and charging a huge fee for their services.

I spoke to the international exchange department at my Aussie bank and the exchange rate is calculate on the current day's TT "selling rate" rate meaning adsense is selling USA dollars to my bank at their current rate(which BTW is higher than the official reserve bank exchange rate)... Take into account that my bank also charges a fee on all international exchange transfers... I'm still out by 100 Aussie dollars according to my banks calculation for the 28th of this month.

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