Wayne Liew Dot Com

The following two recent happenings on the Internet regarding to payment methods will give internet money makers wannabes, especially those residing in restricted countries like Malaysia, a golden opportunity to start or step up a gear in money making:

1. Google Adsense users can now be paid through the Western Union service straight into your bank account. ~via Sabahan’s “Google AdSense Payment via Western Union Is Now Available to All Malaysian Publishers”
2. PayPal enabled it’s users to start withdrawing funds into their debit and credit cards. ~via my post “Malaysians’ PayPal Dream Comes True”

With this two methods implemented by the “giants”, you will now have more options in realizing the money you have earned which previously might have been restricted to just cheque payments and PayPal accounts (previously, “backdoor” methods have been used in cashing out).

This also means that you can now sign up for most of the advertisement platforms out there without bothering on what payment methods that they offer. Of course, there is still some payment services like E-Gold, which is widely used by pay-per-read or pay-per-click sites that is not capable of realising the funds into cold hard cash the legal way yet.

Comparisons on choosing the best way of cashing out can now be made whether when an advertising platform like Bidvertiser and Text-Link-Ads, which offers you two choices of payment methods, via PayPal or cheque.

Withdrawing PayPal funds will need a minimum of USD5 service charge whereas depositing a foreign cheque into a local (Malaysia) bank account has the following charges which I got from CIMB Bank which is my active bank:

Commission
* 0.1% of the collection amount (subject to a minimum of RM5 and a maximum of RM100)

Stamp Duty
* RM0.15 per item
Postage
* RM5 per item

If the amount is above UDS1000 then we will charge agent charges USD15 per cheque.
We wish to inform you that foreign cheque will be takes 45 working days to be cleared.

You must also be aware that some credit card and debit card issuers will have their own charges when funds in foreign currencies are being deposited into the cards. All of these must be referred to your bank and the wise move, if you have several cards, contact them about the charges before withdrawing your PayPal funds to the one with the lowest charge.

Apart from the charges, the cash out amount will also be affected by the payment method you chose.

Bidvertiser payment methods and cash out amount:
Cheque: USD50
PayPal: USD10

Text-Link-Ads payment methods and cash amount:
Cheque: USD25
PayPal: Any amount but pays on a monthly basis

For Google Adsense users, you can choose between Western Union or a cheque as your payment method. You must ask your bank on their charges for this type of transaction and as far as I know, the charges are different from every bank. I won’t comment much on this as I am not a Google Adsense publisher.

The last thing I wanted to tell you that if you are considering cheque payment, you should set a higher pay out rate which will optimise the bank charges you will be paying. To be frank, I personally recommend PayPal as your best cash out method as it is done electronically and the situations like a lost in mail won’t happen.

Tell me what are you going to choose and what various bank charges that your bank plan to suck out from you. Also, don’t tell me that you don’t need to plan yet because you are far from cashing out! You are earning and one day, this day will come, make up your mind!

“Spend wise. Be a smart consumer.”

P/S: The Google Adsense cheque above is not mine. Don’t open your mouth!

Other blogging tips that you might be interested in:

• Malaysians’ PayPal Dream Comes True
• Wayne Liew 1 - MOL Freedom 0
• PayPal Dreams Broken! Now What?
• I Want My First Cheque!
• PayPal Likes Underage Kids Too