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Where to Deposit Clixsense Check in the Philippines without the need for US Dollar Bank Account?
  • UnionBank of the Philippines
  • Bank of the Philippine Islands - BPI
  • Security Bank of the Philipines
UnionBank is the best option in cashing your US Dollar check or related foreign currency check - FCC. Most government banking institutions will accept dollar deposit and even checks in US Dollar. BPI and Security Bank on the other hand will only accept check worth the minimum of $100 to allow you to convert it to cash or to become a Cash Receivable against the drawing bank. Unionbank also advised me to do the same, to withhold the check until I have $100, coz the check will only be consumed by excessive bank charges. In short if you have $10 check the bank gets all the money. The three have 21 days clearing period, so make sure to give the check under bank custody the moment you receive it. UnionBank accepts Clixsense Legends Bank so the check transaction is valid and consumable within the 21-day period. I will be back on February to confirm the successful transaction. The outcome will clear all my doubts regarding receiving future check payments since my first Clixsense payment only acts as a guinea pig to make way for future check transactions on PPC Publisher account earnings like Google Adsense Check, Adbrite Check, Infolinks Check etc. I have made this post possible for my fellow Filipinos who are in need of this vital information in cashing their US Dollar check into Philippine Peso by directly depositing it to affiliated Philippine Government Banks like Unionbank, BPI and Security Bank.

Banks that Accept Foreign Currency Checks  with related Foreign Currency Bank Account requirement

Banco de Oro - BDO with $200 maintaining balance
LandBank of the Philippines - $100 maintaining balance (reasonable)
MetroBank of the Philippines - $500 maintaining balance

I received confirmation regarding this issue by actual inquiries on the preceding banks. It's not the best option because you don't have regular check transactions and it will cost you excessive bank charges and fees, besides the amount is very material, instead of reinvesting them, you let this banks use your money in exchange for unreasonable interest rates that will only yield a small amount over a long period of time. Invest your $200 instead of making your money sleep and rot in this banks. 


LandBank is pretty reasonable if you have an online store or if you are selling online because you will need to maintain a merchant account in Paypal which will cost some fees every time you receive money, you can accept credit cards in US Dollar denomination with ease using Paypal. You can accept checks in US Dollar using your LandBank dollar account but you're least option, giving due consideration on possible receipt of bouncing checks or post-dated checks.

How will I receive the money on Clixsense?
After you have completed depositing the check to UnionBank, BPI or SecurityBank, (again UnionBank is the best option for they have the best support group) they will call their head office to confirm if they accept legal transactions with the drawee or the bank issuing the check, this time the Legends Bank. You will receive a call from their branch office regarding the confirmation and the 21-day clearning period will start regardless of the checks remaining valid days. My check was dated December 4, 2009 and I received it last January 8, 2010. I have deposited it UnionBank today January 11, 2010 and is only valid for 60 days from the date of the check or until February 4, 2010. Meaning its void once I have failed to deposit if after February 4, 2010. The start of the 21-day clearing period is today January 11, when UnionBank phoned me regarding the transaction.

All that's left is for you to wait until February to receive the credit if there's any. I hope I could get atleast P500 for all that trouble, lol. The check is worth $19.05, if theirs $12 bank charge I'll let you know for sure... lets wait...

updated information...
Clixsense Check received last January 10, 2010 - Check no. 24462 worth $19.05
Picture
Clixsense Check deposited and credited by UnionBank
Check no. 24462 amounting to $19.05 into Philippine Peso amounting to P870.04 at P45.67=$1 current exchange rate.
Picture
 


Comments

Rachel

Tue, 16 Feb 2010 00:19:41

So, your account in union bank is peso or dollar?

 

Ariel

Tue, 16 Feb 2010 01:48:46

Hello, my union bank account is in PESO denomination. This transaction only shows that union bank is one of the Philippine banks that accepts US Dollar Checks issued by Clixsense.

 



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