What is EFT and Why EFT?
Electronic Funds Transfer aka EFT payments are much convenient over Cheques as it takes around 2 weeks to receive the check, the possible reason being delay in the dispatching process after payment is issued at the end of the month. Though, I've seen most publishers blaming Blue Dart for the delay in delivery but Blue Dart isn't the real culprit as they take at most 3-4 days in delivering the check. Moreover, the checks issued by Adsense are payable at Citibank branches only and sadly Citibank has limited number of branches in India, hence check clearance takes more time and for non-local cheques you're charged a fee for collection of outstation cheques. And unfortunately, if one loses the check then they’ve to place a re-issue request which certainly delays the payment and is cumbersome too.
Through EFT, your AdSense earnings will be directly deposited into your bank account, in your local currency. EFT is fast, secure, and environmentally friendly, and it’s the Google-recommended payment method. To start receiving payments by EFT, you need to provide your bank details like account number and IFSC code, then verify your account by sending a small test deposit. Overall, it’s a speedy and simplified payment process.
If you are publisher in India, you must be aware that Google makes payment to Indian publishers through standard check delivery. Google Adsense also offers other payment options like Electronic Funds Transfer, Western Union Quick Cash and Rapida in various countries, but none in India except Checks. The EFT payments are currently available in 29 countries and Google is working hard to make it available in as many locations as possible.
There is a good news for all Indians publishers who have been demanding and eagerly waiting for the EFT payment facility since years, it seems Google is actively working to make EFT payments available in India as soon as possible. The source here is a reply from a Google Employee (AdSense Pro Payments) against a protest thread started by a publisher against Google on Google Product Forums.
