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As I understand it, Apple does not do currency exchanges when they pay the app developers, they just forward the 70% share in the currency the customers bought it. So, if an app is available in different markets, the developer receives payments in different currencies.

Is there a way to enter one bank account for every currency? For example, I'd like to set up a bank account in EUR for payments in EUR, one in GBP for payments in GBP, and likewise for USD etc.

If all payments are going to the same bank account, my bank charges high conversion rates every time a payment in a 'foreign' currency comes in.

UPDATE: It seems that this is not possible, nor is it necessary, since Apple seems to forward all payments in USD. Can anyone answer if this is true? Does Apple pay European developers in USD?

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3 Answers 3

No you can't, and no that is not what happens when Apple sends you a payment, so there's no reason to do it.

Apple will send you a single payment in USD, regardless of the currencies used to buy your app.

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Maybe this is correct in the States, but in Canada and Europe it's different, see: forums.toucharcade.com/… –  cheeesus Jun 21 '12 at 13:52
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@cheeseus: I'm pretty sure they do it the same way everywhere. Note that that post is from 2010; things probably changed since. I've been a member for almost a year and I always received payments in USD only. –  houbysoft Jun 21 '12 at 16:23
    
OK thanks. Are you from the States? –  cheeesus Jun 22 '12 at 6:31
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@cheesus: I live in the U.S., but I think my developer account was registered with a permanent address in Czech Republic. In any case, I have a U.S. bank account setup. –  houbysoft Jun 22 '12 at 11:44
    
OK thank you, this is helpful –  cheeesus Jun 22 '12 at 12:58
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The iTunes Connect and Developer portals currently allows only one bank account to be entered per Developer account, no matter how many countries (and currencies) in which an app is on sale.

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Currently (06/2013), it seems Apple does the conversion and sends aggregate payment in the currency you selected for your account.

I received a payment that corresponds in amount to worldwide sales, sent in CZK (which I selected when adding the account to iTC). The payment was sent from an UK bank.

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