There are different methods on how Filipinos can receive their earnings from Google Adsense. These include receiving a check by mail, withdrawing the earnings sent by way of remittance to Western Union, and having the earnings sent to your bank account through electronic fund transfer or EFT.
This article will focus on how to set up electronic fund transfer to your local bank account, particularly Bank of the Philippine Islands or BPI.
How Google Adsense payouts work
Adsense users get paid only if they achieve the minimum monthly income threshold of USD100. Every 22nd of each month, Google Adsense sends out an email informing you that your payment has been sent already via your preferred payment method.
If you chose to have your earnings sent by check, you will be informed that the check has been mailed already. It usually takes two weeks before you receive the check.
If you chose to have your earnings sent by Western Union, your Adsense account will have a unique MCTN code which you would need to present at any Western Union branch in order to claim the dollar remittance. The code is usually available on the same day (22nd of each month), which means you can get your earnings right away without waiting for days or weeks.
If you chose to have your earnings sent to your local savings account by EFT, you will be informed that an EFT has been successfully made. In this case, you would need to check your account on your own or call your bank to see if your earnings have been credited to your account already. In any event, the crediting happens within five working days from the day the EFT was completed.
Why EFT is a better option
- It's automatic. You don't need to do anything; just wait for the Adsense email to arrive and check your bank account balance online to see if your earnings have been credited.
- It's not as hassle or burdensome. When you choose Western Union, you would need to get out of your home, commute to the nearest branch, wait for your turn along with many others sending out money or paying their bills, fill out remittance forms, sign multiple receipts, and have the dollars converted o Philippine peso.
- You don't need to physically go to your bank to deposit your earnings to your savings account.
- It saves you time and spare you from the trouble of commuting, dealing with traffic, and wasting a lot of time.
How to set up Google Adsense EFT with BPI ExpressOnline
- Log in to your Google Adsense account and go to Payment Settings.
- Under Manage Payment Methods, go to Add Payment Method then click Add New Wire Transfer Details.
- Prepare the following information: your bank account number and the SWIFT code of BPI. The SWIFT code for BPI regardless of branch is BOPIPHMM.
- Leave the fields for Intermediary Bank and FCC blank.
As mentioned earlier, allot five business days from the date of EFT before your Google Adsense earnings get credited to your bank account.
The five-day waiting period is a conservative estimate, though. Most often, payments made via EFT get posted to your BPI bank account in just one day. Note, however, that the waiting period is longer if the EFT happens to fall on weekends or on a holiday.
IMPORTANT REMINDER: Don't be surprised if after conversion to Philippine peso, your earnings seem to be lesser than the amount you expected. Be warned that BPI charges a uniform service charge of USD10 for inward dollar remittances made via SWIFT. This works out to over P500. After the USD10 deduction is made, the remainder is then automatically converted to Philippine peso.
If you find the USD10 service charge excessive, consider choosing other payment methods.
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Do you have EFT set up on your Google Adsense account? How is the experience? Join in the discussion by posting your comments below.