EFT for AdSense Payments

Any fees?

[WolfLover]

I am thinking about changing my regular check delivery to EFT. I contacted my bank and they do not charge a fee.

I was looking at the AdSense help center on Google and it does not say there IS a fee, but did not read anything either about whether there IS NOT a fee.

So, to those of you experienced with EFT payments, does G charge a fee?

[celgins]

No. No fees that I know of. I've switched from one account to another and was never charged a fee.

[hunderdown]

Not only no fees, but you don't have to wait for a check to clear. No downside.

[LifeinAsia]

No downside.

Now instead of running to the mailbox every 10 minutes to see if your check has arrived, you get to logon to your bank's online banking every 10 minutes to see if the EFT has hit. ;)

[robrainwater]

Now instead of running to the mailbox every 10 minutes to see if your check has arrived, you get to logon to your bank's online banking every 10 minutes to see if the EFT has hit. ;)

Most banks only post EFTs once a day so that is not an issue.

[WolfLover]

Thanks everyone! Not only are there some helpful fellow webmasters here, there are some comedians! lol

[OptiRex]

No downside.

That depends where one is located and whether one wants to keep one's earnings "out of reach"!

Of course the sensible thing to do, if one is not already under US tax jurisdiction which you have to declare to Google I believe, is to have this scenario already arranged.

Just a thought for those who may become big earners.

[pldaniels]

Actually, there is at least one downside.

With a cheque you have the advantage of banking it when the exchange rate is optimally in your favor. With EFT you're at the whim of the system. Of course, realistically the extra fees involved in processing the cheque will probably outstrip the exchange-rate gains unless you're handling cheques in excess of $1000, in which case you may not care anymore anyhow.

Paul.

[WolfLover]

Thanks everyone! I've decided to sign up for the EFT payment.

One question, I am currently waiting for the "test deposit" so that I can verify my bank account. I know this will be just a few cents but my question is when they say "test deposit" does this mean it is an actual deposit that they leave in there?

Also, it states up to 10 days till the test deposit is done, has your experience been faster? I just am hoping for it to be done before the 15th so that Mays payment will be EFT'd. Thanks again.

[humblebeginnings]

Cashing a check in my country will cost you anything between 10 and 50 Euro! So I do EFT sure thing!

[pldaniels]

WolfLover,

Took about 7 days for my account (Australia). The amount was nearly $1, I'm suspecting they actually deduct that small amount from your first payment - so no free money there :)

Paul.

[Ladan Lashkari]

EFT is certainly a better payment method for most people than checks, because it's much faster and doesn't cost anything.

[dollarshort]

Google saves money on postage and handling, banks get money quicker, publishers save time and fustration, everyone wins! My question why did you wait this long?

[WolfLover]

Actually, this will only be my second payment. I tried AdSense on my site when it was a few months old but never earned more than a couple of dollars per month, so I removed it. Now my site is over 3 years old and I put the AdSense code back on it in April and was very pleasantly surprised. So, right now I am waiting on this first check for a partial month in April and since it is taking so long to get here, I decided to do the EFT thing.