Any Experiences with AdSense Cheques & this FNB Ripoff?

[BigMisterM]

Guys,


I need your input...

Recently I started using Adsense on my blog and the first cheque (which was in Euros) arrived sometime in March and when I took it to FNB they told me it would take up to 8 weeks to process.

Nown here is what irks me to no end:

Today I get a call from them saying that they are ready to deposit the cheque into my account but before they do that they will deduct a courier fee and a processing fee. The courier fee was about R123.00 or some fig close to that. But the whole thing added up to more than R300.00. I am in PE and I guess the cheque was sent to JHB or wherever their head office is.

That pissed me off to the point I am thinking of taking my business somewhere else.

If you know, is this standard practise? Has anyone experience this kind of ripoff before? Seriously, it is not my problem that they can't process the cheque at their own branch here in PE.

Anyone?

BM

 

[rward]

If you didn't ask them to express it then I'd tell them to go get fkked and to give you back your cheque and that you're changing banks.

I do know that you need to pay a standard fee to deposit a cheque, but this seems above that fee.

I bank with Capitec and had to deposit a cheque a bit back .
The lady at the teller told me it would take 14 days as they don't clear their own cheques and that the fee was R25 or something (standard cheque deposit fee).

 

[zippy]

Open an account with a bank that knows a bit about international trade. Someone like HSBC. And get your customers to do eft transfers. Not cheques.

 

[deweyzeph]

I bank with FNB and also receive Adsense cheques but my Adsense cheques are denominated in rands, surely yours should be too? I've had no problem depositing my Adsense cheques directly into my FNB current account using an FNB ATM. They are cleared in 7 days with no service charges deducted at all.

I think your problems are all due to your cheques being in Euros.

 

[Crusader]

I bank with FNB and also receive Adsense cheques but my Adsense cheques are denominated in rands, surely yours should be too? I've had no problem depositing my Adsense cheques directly into my FNB current account using an FNB ATM. They are cleared in 7 days with no service charges deducted at all.

I think your problems are all due to your cheques being in Euros.

This. You need to switch your Adsense account to pay in ZAR (Rand). These you can deposit as a normal cheque without any hassles (unless the teller asks you what ZAR stands for like ABSA tellers do!).

When Adsense only paid in USD I had endless problems with ABSA when depositing the cheques. Extra forms you need to fill in and the costs where around R200+ per cheque.

 

[guest2013-1]

I get adsense cheques and exclusively use FNB for them since other banks make me wait 4-6 weeks.

The denomination is in Rand's and is issued by a local branch of Citibank based in Johannesburg. I do have to deposit the cheque at the Foreign Exchange though as they said I need to fill out a BOP form for SARB. The funds is usually in my account within 5 days.

For any foreign cheque, I'd highly recommend going to a branch that can process Foreign Exchange. Not too sure about the amount you received, but they do charge a fee, usually around R150 on foreign denominations. If I recall correctly, there's no fee if the cheque is in Rand.

I don't think your branch knows what they're doing, so you need to insist they phone HQ (in Cape Town AFAIK) to confirm the procedure (which my bank did)

 

[deweyzeph]

I get adsense cheques and exclusively use FNB for them since other banks make me wait 4-6 weeks.

The denomination is in Rand's and is issued by a local branch of Citibank based in Johannesburg. I do have to deposit the cheque at the Foreign Exchange though as they said I need to fill out a BOP form for SARB. The funds is usually in my account within 5 days.

For any foreign cheque, I'd highly recommend going to a branch that can process Foreign Exchange. Not too sure about the amount you received, but they do charge a fee, usually around R150 on foreign denominations. If I recall correctly, there's no fee if the cheque is in Rand.

I don't think your branch knows what they're doing, so you need to insist they phone HQ (in Cape Town AFAIK) to confirm the procedure (which my bank did)

You definitely do not need to deposit the cheque at Foreign Exchange if it's denominated in rands. As I said, I regularly deposit my Adsense cheque at any FNB ATM just like any other rand-denominated cheque and it clears in my account within 7 days. If it's denominated in rands then it's not foreign exchange.

 

[SilverNodashi]

You definitely do not need to deposit the cheque at Foreign Exchange if it's denominated in rands. As I said, I regularly deposit my Adsense cheque at any FNB ATM just like any other rand-denominated cheque and it clears in my account within 7 days. If it's denominated in rands then it's not foreign exchange.

Some bank's branches will treat them as foreign exchange due the originating company being an international company. Std Bank Eastgate doesn't, yet Std Bank Greenstone does....

 

[House]

I get my Adsense cheque denominated in Rand every month. However, the bank is Citi Bank in Ireland from where the cheque originates.

For some reason, every month, I deposit my cheque in Krugersdorp. This is not my branch, so every month the the cheque is sent to Cresta (my actual branch). From there it is sent to JHB for processing.

It takes around 4 days before the amount shows in may account. From there another 7 days and then only it clears.

 

[milomak]

You definitely do not need to deposit the cheque at Foreign Exchange if it's denominated in rands. As I said, I regularly deposit my Adsense cheque at any FNB ATM just like any other rand-denominated cheque and it clears in my account within 7 days. If it's denominated in rands then it's not foreign exchange.

Technically even though payment is in ZAR, it is a forex related transaction seeing as the paying company is not a SA based company.

 

[guest2013-1]

Technically even though payment is in ZAR, it is a forex related transaction seeing as the paying company is not a SA based company.

Not according to Citibank. Remember, they don't have to clear the funds at the foreign bank that issued the cheque. They clear it locally within the borders of South Africa at the branch of the same bank that trades internationally (Citibank). So the balance of funds are between their HQ in Ireland and their branch in South Africa. Thus, they take care of all the paperwork. So it should be handled as a normal cheque. However, many branches (as shown), really doesn't know what policy to follow in case of this because it is issued from an international bank but payable by the local branch (it says that on the cheque). This is why you get that some branches want you to fill in a BOP form and deposit via Foreign Exchange, and others handle it as a normal cheque.

I get my Adsense cheque denominated in Rand every month. However, the bank is Citi Bank in Ireland from where the cheque originates.

For some reason, every month, I deposit my cheque in Krugersdorp. This is not my branch, so every month the the cheque is sent to Cresta (my actual branch). From there it is sent to JHB for processing.

It takes around 4 days before the amount shows in may account. From there another 7 days and then only it clears.

The reason for that is most probably because the Krugersdorp branch can't handle foreign exchange. I know the one in Cresta does. You can speed up the process by just driving 8km further dude

 

[frikkie6000]

Best thing I have ever done barclays off shore

 

[House]

The reason for that is most probably because the Krugersdorp branch can't handle foreign exchange. I know the one in Cresta does. You can speed up the process by just driving 8km further dude

You are right Acid, but unfortunately more about 25KMs from me.... I do so some months when I'm bored...

 

[roguemat]

I think the real problem here is the fact that you are getting paid in cheques...
Seriously, they must have another option?
The only thing similar that I have is being paid by Microsoft for app sales, and that goes straight into my account.
Actually i also have some payment that come via PayPal, and the fees aren't bad at all.

 

[guest2013-1]

I think the real problem here is the fact that you are getting paid in cheques...
Seriously, they must have another option?
The only thing similar that I have is being paid by Microsoft for app sales, and that goes straight into my account.
Actually i also have some payment that come via PayPal, and the fees aren't bad at all.

You haven't dealt with Adsense before so your opinion doesn't matter.

Wait, let me be nicer.

Adsense only pays in cheque format for South Africa, there is no EFT/PayPal option for us here. Adsense made me switch to ZAR quite some time ago, so if the OP wasn't forced to, then he probably opened the account under an EU address or something.

This means he MAY be able to receive EFT/PayPal payments, but also risk getting his account closed due to many T&C's on their side.

 

[NeonNinja]

So, how long this day and age from Adsense to S.A bank acc? And can you use any bank?

 

[Siya Mava]

So, how long this day and age from Adsense to S.A bank acc? And can you use any bank?

Yes you may use any bank. But I am using FNB With a gold cheque account. After depositing my adsense cheque (which is in rands), I have to wait at least seven days for the funds to clear because adsense cheques are "non transferable". I can even deposit the cheque at an FNB ATM, the funds will still clear after 7 business days.

 

[Siya Mava]

I bank with FNB and also receive Adsense cheques but my Adsense cheques are denominated in rands, surely yours should be too? I've had no problem depositing my Adsense cheques directly into my FNB current account using an FNB ATM. They are cleared in 7 days with no service charges deducted at all.

I think your problems are all due to your cheques being in Euros.

I agree 100% with you. My situation is identical to yours.

 

[NeonNinja]

7 days it is. Thanks man... I have a Capitec Global One. But also have an FNB card.

 

[DragonRider]

Change your Adsense currency to rands and then deposit in a Standard Bank account, that's what I do, and the fee is about R20.