Forum Moderators: martinibuster
It will probably be delayed until Mon which is 1/24 - a bit later then previous months
I call them up and they tell me, "Well it still takes 20 business days to clear a US check." "What about the other 20?" "That's because you opened a new account."
All that effort to clear checks faster, and it only slows them down. Just my luck :)
It might be your bank.
I deal through CIBC/PCF and they only hold it a week, just like any cheque over $1000. I can also deposit it directly to an ATM, which is convenient.
I used to have an investorline account at BMO, I never had any problem with US cheques being deposited. They said they'd hold on to it for a week, but whenever I asked the teller to help me out, they'd always clear it (cheques were in the $1000 area)
Sean
Here in Istanbul / Turkey, money is under my order just a minute after my friend receives it... with no waiting, and with a minimum fee of about 15 USD. We don't even have a currency that is widely used over the world. As it's on every other part of business, banking depends highly on trust, too and you may find some easier ways if you know someone in this area. Of course, knowing someone may not completely solve your problem, you must be a person that he/she can trust.
Since you are in Canada that process should be even faster. You should probably visit other banks and ask for their terms.
So now in order to get my money same day (I have bills to pay and the cheques are always late getting here, this month my cell phone got disconnected) I have to go to Money Mart and I lose 2.99% right there. They also pay less of an exchange rate - if you deposit the cheque you get more I think.
The only suggestion TD could make was to ask Google to paypal my cheque. Yeah, right
a) they'll charge you a lot for foreign currency cheques (whether you have a US dollar account or not)
b) they'll screw you on the exchange rate (weighted in their favour)
c) they'll take ages to actually pay you the cheque (and by ages I mean >24 hours)
d) they'll overcharge you for what it actually costs them
Of course there are exceptions but these too are complicated - eg opening a US dollar account with an international bank where the bank account is in the States. Of course then the downside is you either have to post the cheque back to the States (where it came from) or pay in in your host country and wait the (sometimes) very long clearing cycle. Google of course could help by speeding up the process by the following:-
Post US cheques from the States, but for the major countries around the world in the Adsense program eg Britain etc post from the host country. Not only would this save them many dollars on postage it would mean the publishers would get their cheques in say a day vs a week (or even months). Another well overdue enhancement would be the option of cheques in currencies other than US dollars eg at the very least Euros, pounds etc.
Direct bank transfer despite being needed AFAIK is not going to happen anytime soon. Even wire transfers could lead to charges higher than the foreign currency cheques. Anyway - my 2 cents.
As a British Adsense/Adwords user I seem to get get stung on both programs. On the Adsense side I pay to have my cheque cleared and converted. On the Adwords side I pay a big FAT VAT % on the 2K daily campaign charges (OUCH).
The best solution would be to open a USA account with a USA address... Has anyone from Europe found a way to do this and avoid the super charges?
In order to entice new publishers, specifically foreign publishers, to join adsense, they have to know it is crucial for their growth to impliment a Paypal or direct deposit system. This current method is anti-business and alienating to say the least.
Why in the world they have dragged their feet on this most requested, most wanted feature for AS I will never know or understand.
I know they usually make big announcements on the quarter so maybe, I hope, I pray, they will offer DD or PP at the next quarterly announcement.
Jenstar, have you heard any whispers in the wind?
Why in the world they have dragged their feet on this most requested, most wanted feature for AS I will never know or understand.
It all comes down to Google being able to hold onto that money for a few extra days. Think about how much is paid out to publishers every month. Multiply that by whatever current interest rate they are getting and think about how much more money they make every month by not doing direct deposits or paypal. It's the same type of thing as with loans (at least here in the US). If you have a loan that is supposed to fund on a Friday, it's more likely that the loan will not fund until a Monday so that the lender can pick up just a little more interest on the money.
Anybody here has been approved already?
I'm not convinced that is the case. Amazon switched over to a Direct Deposit system fairly recently. They WANT us to take Direct Deposit--there are fees if you prefer to continue to get printed checks. So Amazon must think that they are saving money through DD, probably by not having to print and mail all those checks. The cost of that, presumably, is more than the amount of money they make from the extra few days of "float."
On the other hand, Amazon may have been mailing considerably more checks for a considerably lower average amount than Google does.
So I don't know. But it would be a good PR move for Google to make DD available to AdSense folk, and I wouldn't be surprised to see it happen....
Anyone else?
The business part of my brain (which is the majority of it) can't help but think that Google are loving the interest they are making by holding on to these funds. Interest rates are low, but when you are talking about multi-millions of dollars, I have no doubt it's a significant figure.
I sincerely hope my interest due will be passed on to me?!?!
[edited by: ncw164x at 8:18 pm (utc) on Jan. 24, 2005]
That's what I'm getting too.
All I get is blank white page
Me too - maybe I spoke too soon and as soon as it becomes available again we'll see payment approved - me thinks so.
Bottom line - We need to focus on other things (like building more content) and not worrying about this, because we can't change it - whatever happens, happens!
