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I noticed there is an option to change country in iTunes (after I signed in).

  1. Does the iTunes account balance transfer from the current country to new country?
  2. Where is the currency exchange rate (to be applied) listed? Please provide URL.
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I opened my iTunes account in the US in 2009, and then moved back to Norway in 2010. After asking customer support, I learned that I needed to use up (most of) my remaining balance before I could change country, and I lost the remaining balance when doing the switch. (This was no great hardship to me. I had to use gift cards to pay when I was in the US, because my only credit cards were issued in Norway, so the balance was never very high to begin with.)

Of course, that was two and a half years ago, and procedures may have changed since then.

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Thank you for sharing. An Apple (Hong Kong) Store employee told me the same thing (regarding iTunes Hong Kong account) recently but I was unsure if this applied to iTunes US accounts. – Global nomad Jan 20 '13 at 20:08

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