Google Adsense recently announced that publishers in Hungary and Hong Kong are now able to receive their Adsense earnings via Electronic Fund Transfer or EFT. Through EFT, earnings are deposited directly to the publisher’s bank account in his country. Payments are made in the local currency and converted using the exchange rate at the time of the payment.
EFT definitely saves one’s time especially if the publisher’s current mode of payment is checks, which arrive several weeks later. In the Philippines, publishers can be paid via Western Union but the hassle of visiting a WU branch will be gone if EFT is to be implemented.
Only a few countries have EFT supported for Google Adsense payments:
|Hong Kong||Hong Kong Dollar|
|New Zealand||New Zealand Dollar|
|United States||United States Dollar|
|United Kingdom||British Pound|
I wonder when the Philippines will be added next to the list. The time may be ripe. Even Paypal is now offering Filipinos direct withdrawal of funds to Philippine banks.
One concern, though, is that local banks will surely try to get a cut on this. But if the fees are not that high, I myself might be willing to try this. If these banks start charging exorbitant fees, though, I’ll just go back to Western Union and receive my payments free of charge.