iTunes Connect Payout Question

Discussion in 'Public Game Developers Forum' started by EndeavorBros, Jul 7, 2010.

  1. EndeavorBros

    EndeavorBros Active Member

    Aug 29, 2009
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    I just had a quick question. In what currency does Apple send my sales to my account? My company is a Canadian company located in Canada. Does that mean that Apple pays me in Canadian funds?

    The problem is that even though I am in Canada, I have a U.S. dollar account. I believe Apple pays thru Paypal. So if they are paying me in Canadian currency then they are converting it from other currencies to Canadian, then converting it back to American dollars after transferring the money to my account. This would mean that I am losing money. Can anyone clear this up for me?
     
  2. Foursaken_Media

    Foursaken_Media Well-Known Member
    Patreon Indie

    I'm not 100% sure on this but I believe Apple doesn't do any conversions... they simply wire the regions currency to your bank, and your bank determines the conversion rate into your native currency.

    So for example you actually get paid in Yen by Apple (for Japan for ex), and your bank will use its own conversion rate to determine the amount of money you get in your currency. If the bank you are using uses US dollars, then of course your bank would do a direct conversion from pounds, euros, yen, etc into US dollars.
     
  3. Syndicated Puzzles

    Syndicated Puzzles Well-Known Member

    #3 Syndicated Puzzles, Jul 8, 2010
    Last edited: Jul 8, 2010
    Eh! On around the 28 of every month your bank calls telling you Apple has sent an amount of money, any currency gets deposited into your US account. Very simple! ( Canada )

    You also need an equivalent of 150 US in a currency to get paid (minimum)
     
  4. ChaoticBox

    ChaoticBox Well-Known Member

    Oct 8, 2008
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    Yup. I don't know how all Canadian banks handle wire transfers but I know Scotiabank dings you an extra $10 CAD per transfer on top of their fudged conversion rates for international transfers. Apple only offers wire transfers as far as I can tell - no PayPal.
     
  5. Syndicated Puzzles

    Syndicated Puzzles Well-Known Member

    Frank you are 100% correct.....

    It is very (very) costly to get paid especially when you just make the 150$
     
  6. exosyphen

    exosyphen Well-Known Member

    I get everything is US Dollars, no fees or anything else.
    The exchange rate is good. When I checked, it was almost equal to xe.com
     
  7. ChaoticBox

    ChaoticBox Well-Known Member

    Oct 8, 2008
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    Which bank/account?
     
  8. exosyphen

    exosyphen Well-Known Member

    Citi
     
  9. ChaoticBox

    ChaoticBox Well-Known Member

    Oct 8, 2008
    878
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    Toronto Canada
    I'm guessing that's in the US? I think they've got credit cards up here in Canada but no actual banks.
     
  10. exosyphen

    exosyphen Well-Known Member

    Sorry .. I am in Europe :)
     
  11. BloqKarma

    BloqKarma Member

    Jul 12, 2010
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    Once you reach the benchmark $ amount (per currency), they wire you the amount in the same currency they collected. I'm in Canada, so I decided to get money sent to a USD account. That way I can exchange it when the rate is favourable.
     

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