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Results for: encash dollar cheque philippines

March 05, 2007

Tales of Lost Adsense Cheques

Another Adsense cheque bites the dust, this time, that of Jepoy. Receiving international cheques in the Philippines isn’t safe, even if you course it thru registered mail. A lot of Adsense publishers learned that the painful way — may it be in dollars or peso currency, someone diligent enough and with the right connections can encash them quicker than you’ve realized you’ve lost it in the mail.

A lot of people have suggested solutions for s stricter mailing policy from Google but I think the problem is not with the search giant but with our Philippine Postal system. Whatever security measures are put in place will only be bypassed if it’s an inside job. There are only two ways I can think of that could solve this postal thievery:

DHL Express. They’re one of the most trusted courier in the world so you can be sure you’d get your package & money on time (actually faster). The only issue is the $24 courier fee which is a bit expensive (but it’s money we’re talking about here). One way to save is to make your payments on-hold for several months until you’ve got enough funds to offset the delivery service.

Direct Fund Transfer. This is not yet supported by Google in the Philippines but I think this is the most convenient way really. Let’s just hope that comes along soon enough.

On another topic, I’ve also been informed by my bank that dollar cheque deposits are now being tracked by the Central Bank by getting the depositor’s TIN and asking for the source of the remittance. They’d categorize it as either professional fee, donations or dividends. Not sure what’s the real reason behind it but I guess since that terrorism act has been passed into law, that’s one way for the government to track money laundering activities funding terrorism groups. That’s just a theory though. :D

November 17, 2006

TextLinkAds Banking Nightmares

The first one to report this issue was Migs when he mentioned that his bank called him up to return his TLA cheque. It was stamped “Retun to Maker“. He was charged $10 for the processing.

Then just now, Annalyn Jusay called me up frustrated that her last 2 TLA cheques also bounced. Her local bank told her that her dollar account has been deducted $50 for the processing of the “Return to Maker” cheques.

I haven’t been informed by my bank if mine cheques also suffered the same fate but don’t worry much. This could just be some accounting errors.

Remember last week’s announcement that TextLinkAds was bought by MediaWhiz. They probably switched corporate bank accounts or something. Remember that it takes around 20 to 25 days to clear international cheques here in the Philippines so I guess TLA thought all the previous month’s (Sept.) payouts have been encashed already.

If this happened to you, just email Patrick Gavin (President of TLA) and tell him about your problem. They’ll re-issue your cheques right away. Migs told me he requested that his last month and this month’s payouts to be put on hold until the bank issues cleared out. Also, since the problem is on their end, you can mention the charges you incurred because of the bounced cheques. They might re-imburse you for that too.