Collection of Google AdSence checks and personal checks
Increasingly, compatriots have to receive personal checks. Especially regularly, personal checks from the United States come by mail to site owners who have placed advertisements "at their place" through the free Google AdSence system and are profiting from the display of this ad. Yes, and cash gifts in the West between different cities and countries are presented, of course, not by transfer to your account, but by personal checks. What needs to be done to “withdraw” the funds addressed to you from the check? This will help our article.
Step one: look at the check parameters
Collection - the so-called cash withdrawal operation from a registered and not just a check. In short, this operation from the point of view of the bank consists of three stages. First - the acceptance of information from the holder of the check. Then - verification of this information in the payer’s bank with a check (the bank in which the account of the person or company that issued the personal check is open). Finally, in the event of a positive response from the paying bank, issuing to the holder of the check the amount indicated on the check.
However, before you start calling to banks or surfing their sites in search of a place to receive your check for collection, carefully read the document you received. On the personal check, you should see the following nine parameters:
- Last name or name of the issuer (of the person or company that wrote the check);
- Personal signature of the person or representative of the company that wrote the check;
- Name, address, bank details of the payer by check;
- Check currency and amount (in numbers and words);
- Last name, first name of the beneficiary (check holder, recipient of the proceeds) or the name of the beneficiary-legal person. In the case of a postal check, the address of the beneficiary is also indicated;
- Check number (mainly data field) and check number again (duplicated below);
- Check Date;
- The validity of the check;
- Magnetic Information Stripe
At the same time on the check that it was accepted by the bank should not be:
- Inscriptions on the back;
- The inscriptions “Void” (invalid) or “Copy” are special watermarks that clearly appear on photocopies of a check. The presentation of the latter will entail not just not accepting a check for collection, but a call to the police bank and the detention of the bearer.
In addition, a nominal check issued in some countries must necessarily contain the name “check” in the language in which it is written. However, this requirement, according to the law ( Regulation of the National Bank of Ukraine on checks , hereinafter: Regulation, clause 2.1.a) is not necessary for a number of major countries with long-standing check traditions. "It is better to clarify the list of these countries with the bank, as a rule, it is the United Kingdom, Australia, Canada, USA, Germany."
Particular attention should be paid to the validity of the nominal check. If the front of the check does not contain an indication of its validity, then, according to international practice, the check circulation is assumed to be six months from the date of its discharge. The same advises and Regulation, 2.1.a, “if the legislation of the country of the drawer of the drawer does not imply another option”; Meanwhile, the legislation of most Western countries also comes from a period of six months.
In this regard, you should not hesitate to submit a personal check for collection - if more than 4.5 months have passed from the date of issuance of a check, the chances of accepting it for collection will rapidly decrease. “Overdue checks or checks with banks expiring in the coming month are not accepted,” Olga Glukhovskaya clearly states.
In the absence of the name / name of the beneficiary (check "bearer") document for collection in Ukraine will not be accepted - in accordance with domestic legislation (Regulation, 2.1.a). But if the sum is different in numbers and words on the check, this is not terrible: in accordance with the legislation of almost all countries, including ours, correct, in such cases an inscription is always recognized as words, and an error is an inscription in numbers.
As for injuries, “tears, slight rubbing or slight wetting, if they do not interfere with the reading of the necessary details, are usually not a good reason for refusing to accept a check for payment.”
Finally, if a check is overdue or two to four weeks left before the expiration date, it can still be accepted for collection - however, in this case, the bank has the right to request a cash deposit from you (the amount of which in the case of the top 10 banks is shown in the table below ).
A self-check may look like this:
Step two: look for a bank branch that conducts collection
This step is easiest to take over the phone. But if you are going to use a collection of personal checks regularly (for example, you make a profit from contextual advertising Google AdSence on your site), it makes sense to study the reviews on the forums, where the addresses of branches with a description of the advantages and disadvantages of their managers are indicated.
If you call by phone, you can also find out in advance in which department you should apply for this (in other banks with checks, there is a department for individuals, in others - checks are accepted only in the department of legal entities).
In addition, if you live near the city with the main office or regional office of your bank by phone, find out whether your check will be sent to the main / regional office and whether it will be paid for you to send. For if the shipment costs 50 hryvnia (users on the network call that amount), and you live in Brovary and contact the branch of a Kiev bank, then it may be cheaper and more convenient for you to personally get to that Kiev branch, from which the shipment is not required.
And, of course, it is necessary for one of the first questions for bank managers to name the paying bank, the country where your check was issued, its currency and amount — to find out if the bank will work with such a foreign institution. In the case of a period of less than one and a half months before the expiration of the check, ask about this parameter - perhaps some banks will categorically refuse to accept a personal check for collection, but other institutions will agree to this action.
Step three: learn about the documents
This step can be carried out either by phone or by personal calling at a bank branch (if this is convenient for you). Immediately, we note that, according to the law (Regulation, 4.1), an identification code and other documents are not required to accept a check for collection - a passport is enough. In most cases, the package of documents for filing a personal check for collection is indeed limited to a passport.
In passing, we note that if you have an international passport, it is advisable to take this document to the bank right away (since in the international passport, as in the check, your name and surname are written in Latin - we hope you indicated to the note maker exactly this writing of your data). But along with the foreign one, it is necessary not to forget the civil passport (by law, all banking operations are carried out on the basis of an internal passport; driving licenses and other documents with or without a photo are insufficient).
We mention that if a check with the address indicates a different place of your actual residence (for which you received a check by mail) than the place of registration of the passport - this is not a problem; for the bank, the “address” parameter on the check is not decisive. But in the application for filing a check with the address for collection it is necessary to indicate the same address that was on the check - and not the place of registration of the passport.
And only if the check holder is a minor or has died, then the nominal check for collection is made by parents / guardians in the first case or by the heirs in the second - by presenting a large set of documents corresponding to the case, which you will be informed about in the bank.
Step Four: Learn About Costs
Ask a bank manager by phone or in person to ask about the size of the fee for accepting checks. However, note that there can be two commissions: the Ukrainian bank to which you apply, and the foreign bank of the payer. However, a large commission can be appointed from a domestic institution, which “covers” for the bank any commissions of a foreign bank — that is, the latter is not charged to the check holder. This point is worth finding out in advance.
In the second place, find out whether the commission is paid to a domestic institution immediately upon receipt of a nominal check for collection - or is it calculated from the amount indicated in the check only upon payment of the latter.
Finally, in the third place, do not forget to ask whether you will be required to deposit a cash deposit with such parameters of your check, and what this deposit may be equal to.
Naturally, it is worthwhile to select banks that call for clarification of nuances in size and “simplicity” of their collection fees (but, again, it is not bad to monitor user feedback online). In the study of possible commissions, you will be helped by a table of conditions for receiving a check for collection by banks from among the 10 leaders in terms of assets at the end of the article.
Step five: go to the office and think about how to take money: to the account or in cash
When you receive a personal check for collection in the department you will:
- fill out an application (indicating the contact phone number),
- if necessary, pay commissions when accepting a check or deposit a deposit - make these payments to the bank
- put a personal painting on the back of the check (in no case do not do it in advance, even though the law permits it! - banks demand that this act be done only in the presence of a financial institution manager)
- give a statement and check
- get a receipt for a check for collection
After a month or two, they will call you at the phone number indicated and, in the event of a positive response from the paying bank, will be informed about the possibility of paying you the amount indicated in the check. If you paid a fee to a Ukrainian bank while accepting a check, then the payer’s bank fee will be removed from you when you pay the check, otherwise, if paid, both commissions will be deducted from the amount.
If you have a currency account in any bank, you can indicate the account in the application - and receive the amount on it by check. "At the request of the client, the money will be transferred to the currency account, the number of which will be indicated by the recipient in the application for acceptance of the check for payment for collection, regardless of which particular account (current, card) it is and in which bank it is open."
Consider that in some banks, if you open a foreign currency current or card account at this institution to receive funds by check, the fee for accepting a check for collection will decrease significantly (for example, at Raiffeisen Bank Aval from 2% to 1%). You can receive a notification about the receipt of funds from a check to your account either by phone or via Internet banking. In case of a positive outcome and payment of money, the check is not returned to the check holder.
If a personal check is accepted by the bank for collection, the bank can only refuse to pay it in one case - if the payer’s bank has refused to pay this check. “Then the customer is returned a check with a“ refusal ”mark and is provided with a letter of notification from the correspondent bank, where the reason for the refusal is indicated,” Olga Glukhovskaya specifies. In this case, in further negotiations on non-payment of checks, the bank to which you applied, and the Ukrainian legislation is no longer involved. Such disputes are resolved only "between the check holder and the drawer of the drawer in accordance with the legislation of the payer's country."
Step Six: maybe without going to the ward?
Recently, it became possible to simultaneously reduce the period (2-3 weeks) of waiting for payment of funds by check, and to do without going to the office and without presenting a passport - and all this is practically “for the same money”. We are talking about Internet banking systems, as well as online payment services.
In case the internet banking system or the payment service you use contains in the interface a choice of “check collection” (or something similar) - for example, the Privat24 system or the LiqPay service - you have to take a picture or scan the front and back sides of your check and upload them according to the interface. On this networking is over.
Next, you should send by regular mail by registered mail or letter of notification (if you have a check for a large amount, and you are afraid for its safety, you can arrange delivery by a specialized agency) to the address, which will certainly be indicated in the same interface (in the case of Privat24 and LiqPay - Dnepropetrovsk address PrivatBank).
Upon receipt of the original check, the money to the specified address will be credited to your card (during this time the bank will send the images of your checks to the paying bank and verify them). According to user feedback, for example, in the case of Google AdSence checks (American Citybank is the payer), cash withdrawal using online collection takes place twice or three times faster than when personally entering a check into a branch - literally in 10-14 days.
This seemingly risky method is in fact fraught with monetary losses in only one case - while the attackers simultaneously intercept both the original of your check and your password / login to log in to the online system, which together is unrealistic. You can request your login and password under the guise of forgetting most of the online systems only by answering a secret question, either by telephone or email (assuming that your password to the latter is known to attackers), which is also an additional security factor.
Conditions for accepting registered checks for collection by banks as of September 30, 2010
|Bank||Customer fees for accepting checks for collection|
|Commission,% of check amount||Minimum commission||Additional expenses, except commission|
|Ukreximbank||2%||79.5 UAH ($ 10)||For a dubious check, the client pays a deposit of $ 10 (check up to $ 100,000), € 55 (check up to € 10,000), € 150 (check over € 10,000). For registered checks in other currencies, a deposit is made in the amount of $ 20.|
|Oschadbank||2%||31.8 hrn. ($ 4)||The client makes a mandatory deposit of $ 20 or € 20|
|Raiffeisen Bank Aval||2% (to the currency account in the bank 1%) + commission zarub. bank||39.75 UAH ($ 5)||-|
|Ukrsotsbank||In $: for checks issued to US banks, 1%, not less than $ 35 and not more than $ 200. In $: for checks issued to banks that are not in the US 1%, but not less than $ 100. In €: for checks issued to German banks, 1%, not less than $ 35 and not more than $ 200. In €: for checks issued to banks that are not in Germany 1%, but not less than $ 100. In other currencies 1%, not less than $ 35 and not more than $ 200|
|OTP Bank||3.6%||500 UAH||Payment of compensation - 1.5% (min UAH 30)|
|VTB Bank||2%||39.75 UAH ($ 5) or 53.75 UAH. (€ 5)||The client makes a mandatory deposit of € 50 plus 2% of the amount of the check.|
|Alfa Bank||no service|
|Finance and Credit||2%||39.75 UAH ($ 5)|
What checks are accepted for collection
Checks that you can cash in the bank, basically, there are two types: personal and travel.
Nominal checks are written instructions of the account holder to issue a certain amount to a natural or legal person specified in the check. The one on whom the check is written is called the check holder.
You can receive money by name check usually within six months, unless another term is specified in the check itself. Usually, banks recommend handling a check for money no later than four and a half to five months after the date of issue. Checks without a date, most banks do not accept.
In order to cash money on a personal check, you need to come to the bank on time with a document proving your identity and sign the statement. Then wait from two weeks to two months. In addition to you, a check can be cashed by any other person by proxy, notarized. Most often, Ukrainians have to deal with personal checks issued by foreign banks. In our country, they are already cashed through intermediaries - Ukrainian banks. Such checks are usually received from relatives or sponsors, by mail or in any other way.
Traveler checks are payment documents for which you can quickly and conveniently get money while traveling. In contrast to personal checks, travelers checks are bought from financial institutions in order to save money in this way and cash them easily when needed. That is, you come to the bank and buy from the issuing company a certificate of obligation to pay you the amount indicated in the check. And abroad, you receive money by signing a traveler’s check written on you a second time at the time of sale, and paying a commission of 1-2% of the cost of the check or a fixed amount for each check.
Traveler checks do not have time limits - you can take them with you on a journey and in a couple of years. In many stores, restaurants and hotels abroad, such documents are taken along with cash. In general, they are quite convenient - they are easy to recover in case of theft or loss: by calling the issuing company’s worldwide reimbursement service on the telephone number indicated on the receipt for a check, you block a lost check and receive another within 24 hours. You can buy such checks in banks for cash, presenting your passport, concluding an agreement and paying a commission of 0.5-1% of the purchase amount. You can export abroad and import such checks to Ukraine for up to 10,000 euros. A large amount must be written in writing to the customs authority, confirming that you have withdrawn it from a bank account. In addition, you will not be able to buy travel checks for more than 10,000 euros in one transaction day, as this is prohibited by law.
You can exchange both travel and registered checks only for the full amount of money indicated in them. Partial "cashing" does not happen.
Check Collection Scheme
During the receipt of money on a personal check, and in some cases - on the road, you will meet with the procedure of collection. The fact is that the bank to which you go to cash a check will not pay you the amount specified in the document immediately from your funds, but will turn to the financial institution where the person who wrote the check is opened. And only having checked the check and having received money from the institution, the bank will transfer it to you. There are no other ways to cash out a personal check of a foreign bank - not through settlements on collection - in Ukraine does not exist.
Since the collection scheme is rather rare, it was not automated, but carried out manually. Therefore, getting a check is quite expensive. The cost of the procedure includes receipt of a check for collection, followed by sending it to the collecting bank by mail (for example, 4% of the face value of the check, at least $ 20 - maximum $ 300); as well as correspondence with the bank - to clarify or find the amount of refunds for checks (at the request of the holder of the check). Moreover, the payment is charged for each check separately.
There are special Internet services, with the help of which it is possible to make collection of personal checks cheaper and faster. To do this, you must send a check to a country where this procedure is more common, respectively, it is faster and costs less. It is usually possible to cash a check with such a service within a week, and the commission will be up to 3% (minimum $ 5). However, there is no guarantee that the service you contact will actually refund you.
As for the traveler’s check, you can count on “cashing out” the money on it without delay for collection if it is of the following types: American Express (distributed in the USA); Thomas Cook and Visa (common in Europe); City Corp (common in Asian states). The reason is that if banks pay out the types of checks familiar to them at once, then they will want to carry out a collection of other types, and the procedure will take time. In addition, not every foreign bank will accept checks of unfamiliar systems for collection.
If you have transferred or presented your traveller's check to another person, putting a transfer inscription (endorsement) on its reverse side, the bank will also accept the document for payment only on the terms of collection. Often you have to wait for a response - confirmation of the solvency of the check from the issuing bank for up to five weeks.
In addition to the so-called “clean collection”, which concerns financial documents - checks and bills of exchange, there is also a documentary collection. It concerns financial documents accompanied by invoices, transport, insurance and other commercial documents. For example, in international trade documentary collections imply the obligation of a bank to receive from the importer the amount of payment under the contract on behalf of the exporter and transfer it to the latter along with the transfer of all commodity documents.
Disadvantages of the payment scheme for the collection
In addition to the rather tangible value of the collection of checks for receiving money by personal checks, the main drawback of such a cash withdrawal procedure can be considered to be a long collection period. One of the banks that accept personal checks, in his proposal, noted that he had such a procedure “short payment terms - about one and a half months”. Such a period is not the limit. In addition, there are cases when the correspondent bank requires an additional period to verify the check. So get ready to wait.
In addition, a check may be insolvent upon its arrival at a foreign bank. In this case, the bank to which you applied will not refund you the minimum commission that you paid at the time of accepting the check for collection.
The person who has written it out cannot be withdrawn by a personal check by law. But if the bank refuses to cash it - it should indicate on the check the reasons for the refusal and the date of presentation of the check for payment. To fear that at the time of cashing a check on the account from which the funds are withdrawn, there will not be enough money, it is not worth it - for the person who wrote the check, the bank can conduct this procedure on credit.
Regulates all issues related to travel checks and registered checks by the Decree of the National Bank N520 of December 29, 2000 “On Approval of the Regulations on the Procedure for Transactions with Foreign Currency Checks in Ukraine” .