Electronic Funds Transfer of Google Adsense earnings in the Philippines?

James Ryan Jonas

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:

Australia Australian Dollar
Austria Euro
Belgium Euro
Canada Canadian Dollar
Czech Republic Koruna
Denmark Krone
Finland Euro
France Euro
Germany Euro
Hong Kong Hong Kong Dollar
Ireland Euro
Israel Shekel
Italy Euro
Japan Yen
Mexico Peso
Netherlands Euro
New Zealand New Zealand Dollar
Norway Krone
Poland Zloty
Portugal Euro
Slovakia Koruna
Spain Euro
Sweden Krona
Switzerland Franc
Turkey Lira
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.

James Ryan Jonas teaches business management, investments, and entrepreneurship at the University of the Philippines (UP). He is also the Executive Director of UP Provident Fund Inc., managing and investing P3.2 Billion ($56.4 Million) worth of retirement funds on behalf of thousands of UP employees.