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As digital advertising continues to evolve, Google AdMob remains at the forefront, revolutionizing the way developers monetize their apps.
To optimize payment processes and safeguard financial transactions, AdMob has introduced a policy update: opening/verifying a bank account for your Google AdMob account.
In this article, we show you the significance of this update and provide step-by-step instructions to seamlessly meet the requirements.
1. Updated payment policy on Google AdMob for game, app, and software businesses
This is especially important for gaming companies and app, and sofware developers who wish to embrace this policy change to enjoy a streamlined AdMob experience that ensures transparency, security, and growth for their app monetization endeavors.
Google AdMob has recently implemented changes to its payment policy for businesses involved in gaming, app development, and software production. The revised policy, effective from January 1, 2024, introduces several essential modifications regarding the process of receiving revenue through bank accounts.
In detail, the specific requirements that your business needs to fulfill include:
To ensure compliance with the new policy, game, app, and software businesses must register a bank account in their company's name to receive revenue from Google AdMob. The use of personal bank accounts for payment transactions is strictly prohibited under this policy.
Google AdMob exclusively pays revenue to bank accounts that are opened in the same country where the company is incorporated.
For example: if a game, app, or software enterprise is established in Singapore, it must possess a business bank account with a reputable Singaporean financial institution like DBS or UOB.
Google AdMob requests game, app, and software businesses to verify their bank accounts before initiating any monetary transactions. During this verification process, you need to provide relevant records and documents, including the business registration license, personal information of the responsible individuals within the organization, and bank account statements.
2. Types of bank accounts Google Admob needs to verify or reject
Any bank account linked to Google AdMob that does not meet the policy requirements will be subject to a verification process and will be unable to receive withdrawals from Google AdMob. Here are some examples of bank accounts that may require verification or face rejection
- Personal bank accounts;
- Business bank account linked to Google AdMob but not opened in the country of business registration: For instance, if your company has registered in Singapore but the linked bank account is in a different country such as Hong Kong, it will be subject to verification or rejection;
- Google AdMob linked bank account belongs to a bank that is not recognized in the country;
- Account issued and managed by a third party other than a bank;
- Unidentified bank account: In cases where the bank credentials are unclear Google AdMob will request verification to ensure the account's validity.
3. What do you need to do when Google Admob sends a bank account verification request?
In case you receive Google AdMob notifications to verify business bank accounts, you can follow these steps below
Even if your corporate account fulfills the conditions, you still need to provide documents and records to ensure compliance with Google AdMob's new bank account conditions.
Some documents that you can submit include:
- Bank account confirmation letter;
- Bank account statement for the most recent month.
The purpose of submitting these documents is for Google AdMob to verify that the bank account belongs to the company, is issued by a bank in the country where the company is established and is not created or managed by a third party.
In such cases, you should reach out to experts, local banks, and international financial institutions for guidance and detailed instructions on opening a business bank account in the country of registration or exploring alternative methods.
Global Link Asia Consulting, with a team of payment solutions experts and experienced professionals in opening bank accounts and payment gateways across Singapore, Hong Kong, and the U.S., can help you swiftly open a suitable bank account, ensuring compliance with Google AdMob's requirements.
4. Bank account opening process to receive payments from Google AdMob
You can reach out to Global Link Asia Consulting via email or hotline for advice on your specific requirements and the most suitable type of bank account for receiving payments from Google AdMob quickly and efficiently.
Email:
Hotline: +65 3163 4102
Upon confirmation, we guide you through the preparation of the necessary documents for opening a bank account.
After document preparation, we assist your business in submitting documents to the chosen banks
We schedule interview appointments with banks on behalf of your business and provide support during the interview process.
We will monitor the progress until the business bank account is successfully opened.
5. FAQs about bank account verification from Google Admob
In short, your linked bank account with Google Admob must be a direct business account registered in the country where your company is incorporated.
- If your linked bank account is personal;
- If your business bank account isn't in the country of company registration;
- If your business bank account is from a bank that isn't licensed in the country.
We offer a comprehensive range of accounting and tax services for Singaporean companies. Our services include:
- Tax Consulting including corporate income tax, GST tax, contractor tax, and more.
- Monthly/Annual Tax Accounting services in accordance with Singapore accounting standards (SFRS).
- QuickBooks Consulting and Licensing.
- Corporate Income Tax Return Preparation
- GST Tax Return Preparation.
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