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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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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/… Commented Jun 21, 2012 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
    Commented Jun 21, 2012 at 16:23
  • OK thanks. Are you from the States? Commented Jun 22, 2012 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
    Commented Jun 22, 2012 at 11:44
  • @cheeesus: if this answered your question, please mark this answer as accepted using the checkmark on the left.
    – houbysoft
    Commented Jun 26, 2012 at 20:49
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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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Update for 2023:

It appears that you can provide exactly one bank account. You may specify the preferred currency for your bank account when entering the bank account information. A single payment is made each fiscal month by Apple to the bank account using the currency that you provided.

Relevant Apple documentation is below.

https://help.apple.com/app-store-connect/#/dev6a92b6d7b says:

If you meet those requirements, payments are made to the bank account and the currency you provided within 45 days of the last day of the fiscal month in which the transaction was completed.

[...]

All payments are made by direct deposit or electronic funds transfer (EFT.) [...] Apple's bank will consolidate proceeds for each currency in which you have sales on the App Store, resulting in a single payment to your bank each fiscal month.

[...]

Our bank converts payment amounts into the currency of your bank account. The exchange rate is established by our bank and, due to Apple's volume, is generally a more favorable rate than used by your local bank.

For more details, start by browsing using the links under the "Managing agreements, tax, and banking information" heading at https://developer.apple.com/support/app-store-connect/.

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