Now Google Adsense has started EFT (Electronic Funds Transfer) in India. Most of the publishers were waiting for that. But this EFT transfer came with a number of new things. One of them is the purpose code. Recently when i received a call from my bank regarding a funds transfer from a foreign country. At that time i was not aware of this Purpose Code, so i just told them that i am getting this money from Google Adsense as i display advertisements on my website. So the lady on the other side told me that it will come under Remittance. I just said "Ok". I don't know which purpose code is used. But then i started to search for it on Internet and came to know that i am not alone. A number of people received the similar calls from their banks.
But now i have got the answer. The correct purpose code for Google Adsense payment is P1007. You can verify it from the following RBI (Reserve Bank of India) document which shows a list of all purpose codes used for FOREX transactions.
RBI Purpose Codes : Read More
Following link of a Google forum also verifies the Purpose code that i have provided you.
Google Forum about Purpose Code for Adsense Payment: Read More
I hope this information will benefit you and increase you knowledge about this type of payments. Will bring you more insight into this topic if i get some.
But now i have got the answer. The correct purpose code for Google Adsense payment is P1007. You can verify it from the following RBI (Reserve Bank of India) document which shows a list of all purpose codes used for FOREX transactions.
RBI Purpose Codes : Read More
Following link of a Google forum also verifies the Purpose code that i have provided you.
Google Forum about Purpose Code for Adsense Payment: Read More
I hope this information will benefit you and increase you knowledge about this type of payments. Will bring you more insight into this topic if i get some.
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