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Google AdSense publishers in New Zealand are complaining Google stiffed them on their last AdSense payment, paying them almost 40% less than they should have.
The complaints are coming from Google AdSense Help and WebmasterWorld where they report Google had a exchange rate glitch when converting US dollars to New Zealand dollars.
One publisher said he was paid out $298.00 but when Google did the conversion, they paid him $238 in New Zealand currency, which is about $140 too little or just under 40%. Technically, he should have been paid $377 in New Zealand currency or so.
Instead of getting 1 : 1.306 (USD to NZD) these publishers are getting 1 : 0.798 (USD to NZD).
Google had a similar issue in Australia several years ago, plus in several other countries throughout the years. They always fix it in the next payment cycle.
Forum discussion at Google AdSense Help and WebmasterWorld.
Update: As expected, Google promises to fix the mistake. A post by AdSensePro Sophie said:
An incorrect exchange rate was applied to the June 2012 NZD EFT AdSense payments. We are aware of this issue and working to resolve it as quickly as possible. We will contact the impacted publishers via email soon.We appreciate your patience and understanding in this situation.
Image credit to ShutterStock for currency
Comments:
Sumit
06/29/2012 11:13 am
Hey, hyperlink to Australia is not working
Hamid Asadpour
07/04/2012 10:37 pm
The exchange rate for USD/NZD on 29th of May in Bloomberg was around 1.31, the quesion is why Google paymanet system used 1.25 for payments and adjustments? The difference is around %5 for every publisher. Please read following: https://support.google.com/adsense/bin/answer.py?hl=en&answer=15925 For example, in a case where you generated earnings over several months and then exceeded the payment threshold in August 2011, your September payment would use the rate as quoted on Bloomberg at 16:00 London time on August 29, 2011. So, June 2012 payments would use the rate on Bloomberg at 16:00 London time on May 29th, 2012. Isn't it?
Walter
07/09/2012 11:16 pm
Just so you are aware, now AdSense appears to have screwed up the opposite way, incorrectly moved the decimal point on the NZD exchange rate two spaces over thus many publishers are noting their "Next Payment" adsense is estimated in the thousands too high. Once they pay everyone the excess, what will they do, charge interest for the time it was not refunded to them, more over, HOW do you even return funds to AdSense? From previous experience we've found companies pull the money from the bank and the account is frozen by bank because it is seen as potential fraud. The implications are serious enough, but Google doesn't seem to respond, even to forum notices like this: http://productforums.google.com/forum/#!category-topic/adsense/payments/2rWc42TDTRw This is going to be a good Adsense disaster from what we can perceive... maybe end of NZ ads?