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Question about New Payment system

     
12:18 am on Sep 28, 2012 (gmt 0)

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I'm in Canada and I've been receiving EFT payments for many years. Today I received this message on my Adsense home page:

"Your AdSense account has been upgraded to a new payments system. Learn more.."

Upon clicking Learn More. I get this instruction:

To continue to receive payments via Electronic Funds Transfer (EFT) you must enter your International Bank Account Number (IBAN) and Bank Identifier Code (BIC) account details into your AdSense account so that your payment can be sent to your bank account successfully.

Do I need to do anything? I had already added a bank before. Should I add a NEW bank?
5:06 am on Sept 28, 2012 (gmt 0)

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Welcome to the new world of deductions.

Not a NEW bank account. You have to go through all the bank account verification again by entering all your details from scratch.
11:06 am on Sept 28, 2012 (gmt 0)

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Not true. I just found out that the Canadian banking system does not support IBAN and so is the US banks.
8:46 pm on Sept 28, 2012 (gmt 0)

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Jbayabas - did you also go and check your bank and they told you the same thing? TD Canada Trust says they have a BIC/SWIFT but they don't do IBAN.

Think we should just leave settings alone and wait for Google to realize their instructions error.
9:41 pm on Sept 28, 2012 (gmt 0)

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Google made a boo-boo. They should have included Canada in the exempt countries. In the instructions, there's a link that says something like "click here how to enter your bank.." and it redirects you to "Receiving Payment by EFT."

If you had already been receiving payments via EFT, then you don't have to do anything.
10:02 pm on Sept 28, 2012 (gmt 0)

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Yeah - that's what I thought - thanks.
1:51 pm on Oct 23, 2012 (gmt 0)

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I'm happy to report that I have now received my payment for this month of October without changing anything on my Payment Profile. Thanks, Goog!