Best Banks in India for adsense checks

[morpheus83]

Have an account with ABN Amro but lately they are taking too much time for clearing checks around 40 days. I was given the explanation that as checks are drawn on Banks outside New York. However earlier they used to clear in 20 days. I was thinking of opening in StanChart or Citibank? As Google checks are drawn on Citibank I guess checks will clear faster. Any other suggestions.

[GuluGulu]

Which city are you from?

I deposit check at both ICICI and UTI Bank, both cleares in 21 days, but UTI bank deducts more commission than ICICI. ICICI deducts only Rs. 250/- commission....whatever the check amount is. So it is better to open an ICICI bank A/c.

[morpheus83]

I am from Bombay.

[kartiksh]

Yes for me ICICI is good so far. (i am using them to clear Google AdSense checks since Sept. 03).

But why to bother now!. Change your default receiving currency to Indian Rupees, Google is now sending checks in Indian Rupees and as per my knowledge payable AT PAR at all branches of Citibank in India. So it would be normal clearing i.e. two days maximum.

[morpheus83]

Yes once checks come in INR it will take 2 days to clear checks. However paypal does the same and issues at part Citibank drafts but the exchange rate it gives is not good. So if Google does the same I might consider $$$ checks only.

[Sobriquet]

i shifted from hdfc to citibank.
citibank is better and more transparent.
14 to 21 days max to clear us checks.

[kartiksh]

morpheus83

Yes that is true. but i don’t expect this from Google. I have reported Paypal problem here [webmasterworld.com...]

I will update you here once i receive my Indian rupee check this month on Google’s remittance rates. I have enabled Indian rupee option just to see the rates and if found same as Paypal i would revert back to USD checks.

[GuluGulu]

Yes, Same option for me too.

But I think G will definitely give better exchange rate as close to the actual. Anyway, if having my check in INR is a loss compared to USD check, I would definitely revert back to USD, because only 20 days more to encash this...I can definitely wait that much for more money.

[wanderingmind]

My bank is ABN Amro bank too - and they are not only clueless about whether the checks have been sent for clearing or not, it takes 41 days.

Have applied for INR checks.

Once that is there, I dont suppose there will be any further problem.

[morpheus83]

wanderingmind which ABN Amro branch do you deal with?

[kartiksh]

UPDATE:

I see payment sent to me on 21st April in INR. And the exchange rate is 43.09 - This is amazing as this is very good deal. Even icici is not offering to me this date as on 21st April the international exchange rate was 43.58

So it is very good to switch payments in INR instead of USD considering 2 days clearing.

Hope this helps to others.

[indianads]

The exchange rate for my last check at ICICI was 43.25. So I think the fx rate offered by Google is not that great.

Does any one in India opted for secure delivery?

[kartiksh]

Could you please let me know the rate of that day in international market. I am not criticizing ICICI but pointing my benefit. My experience with ICICI in last 3 years remitting money, best rate they ever remitted was less than 70 paisa of current international rate.

So i am very much interested to know which date they credited your account with the exchange rate.

[indianads]

My check realization data is 04/04/05. The internation fx rate during that period is 43.59.
ICICI payed at 43.25 which much better when compared with G fx rate.

[wanderingmind]

Indianads,

yes, I have opted for Secure delivery, INR check. Not yet arrived. Any idea when it will?

(by the way if anyone wants to get interviewed by a big business newspaper in India about your sites+adsense, sticky me. Hopefully your sites are stuff you can talk about publicly ;-)

[indianads]

I think we can get the tracking number for secure check from adsense support. If it is a secure express it shoulbe arrive with in 3 to 5 business days.

[morpheus83]

The last thing we want is an article getting published saying I earn $ XXXX per month just by a website through adsense in an Indian newspaper. Soon we will have Institutes starting courses on them.

[kartiksh]

indianads, good rates i am sure the amount was in four figures i.e. #*$!x

i nearly receives xxx amount just deposited xxxx amount of check in ICICI and wanted to see what rate they offer to me now. By the way i have never experience slowness in deposit of fund by ICICI like i am observing right now i.e. its more than 22 working days and banks says wait till Tuesday for exact status. In all previous experience it was deposited with in 20 working days.

[morpheus83]

The delay is because of the public holidays in this month.

[dmoz24]

I had experience with 2 banks

1) was IDBI bank where I deposited my first cheque

2) Rest all are with a public sector bank, Names here wont matter as charges are practically the same with all public sector banks

IDBI took off (fleeced me) of 1.5 grand Rs out of my total of 8 grand Rs. Charges were told to me as 600 courier charges, rest commission. Time taken was 25 days

The public sector bank charges minimum 60 rs for bank charges, I am told that it may go upto maximum of 150 Rs for more amounts. Time taken is always 40-50 days, but the money does come....

This time I opted for Google conversion and I got a rate of 43.10 when the exchange buying was 43.60 So a loss of 50 paisa. ( I think I would have got more by my bank, But I still would keep this conversion as I would get money faster)

Also anyone got a secured selivery in INDIA?

[wanderingmind]

My secure delivery check hasnt arrived yet in Mumbai.

Isnt it time it did, considering its by courier? (One can physically travel to any country and back with a sackful of checks in that time HEHEHE)

Maybe Google should just pay me the airfare to travel back and forth with checks for the rest of India!

[kartiksh]

Update: ICICI check which i was mentioning throughout my post in this thread has been finally deposited to my account. It was of about USD 1200.

The rate offered by ICICI is 43.16 (current Rs. 43.51) where as they have deducted Rs. 250 courier charges and service tax. So my effective rate of this remittance is Rs. 42.92.

Considering this the check which i receive at 43.09 (current when remitted Rs. 43.58) is much better option. But please do not this amount is only mid of three figures i.e. ***

Hope this helps to others.

[morpheus83]

Kartiksh, Earlier you mentioned you got payment on 04/04/05. It was for which months earnings. I guess ABN is using the funds as my check cleared on 20/04/05

[kartiksh]

i mean at that time i received it on 4th april and deposited to icici on 6th april

[kartiksh]

by the way the USD 1200 payment was for Dec04-Feb05 and the INR just now deposited by me is for Mar 05.

[vijayhrb122002]

I received my March Check in INR today afternoon.
I am from Hyderabad.
I also use ICICI Bank.Fine for me.
Checks clear within 20 Days and only Rs 250 for processing.

[morpheus83]

INR checks take no more than 2 working days.

[roycerus]

Had no idea there were so many indian on this forum. :-)
Good to know so many are doing good business with adsense on their site.

I received my check thrugh secured delivery on 29th April. It'll clear tomorrow.

I had a question for all the folks from India.

Has anyone had any problems with their adsense earnings with the tax department? The reason I ask is that I heard that to receive US Dollar payments you need to have RBI clearence. What about taxes on your small business if you are working for a company? How exactly do you run your business. I am looking for some genuine opinions on this.

Looking forward to some views.

Regards,
R

[ganeshcp]

taxes on adsense income depends on how much you are earning. if you are earning below the minimum tax rebate you don't have to pay taxes.

yes it is interesting to know many indians exist on this forum! can everyone please share how much they make on adsense and what kind of site do they have?

i have an entertainment site making $250 pm.

[kartiksh]

About taxes with best of my knowlege only.
=========================================

If you receive cheques as an Individual - RBI has no problem. - You are liable of income tax as applicable.

If you receive cheques as Busines - RBI requires IEC number of business and explaination of revenue. + Incometax