Payment as Check? / Canadian Developers?

[Darkroom]

not having signed up as a paid developer yet, i have a question about payment: is it possible to have apple mail you a check for AppStore sales, or is direct wire transfer deposits the only way?

if wire transfer is the only way, is there anyone here who is a paid developer in Canada? do you have any suggestions for banks with cheaper wire transfer rates or plans? maybe they are all the same? ugh... canadian banks are notorious!

[firewood]

Not only is wire transfer the only way, but it has to be a large bank that has an international SWIFT code. Many small local banks and credit unions don't.

The payments, if you have enough sales, actually come from Japan, Germany, the UK, Australia, and etc. as well as Apple USA. Paper checks would cost you far more in fees.

[benkenobi]

How much do they try to charge you for incoming wire transfers?

It might not have a swift code you will have to ask, but try credit unions like Pace www.pacecu.com.

They charge you 20$Cad for incoming us wire transfer. I pay 25$US where I live.

[MacToddB]

I use Chase and I have NO fees. It might be because of the volume I have in their bank (Silver status, I think...) but I'd recommend looking into Chase.

[OttawaGuy]

Cheque not check ;) We are Canadian after all. :)

[firewood]

Many credit unions do not have a SWIFT code. They won't be able to handle most of the App store wire transfers.

[Darkroom]

Many credit unions do not have a SWIFT code. They won't be able to handle most of the App store wire transfers.

except in canada. some credit unions here are bigger than banks, and they certainly handle SWIFT.

so far i've learned that my bank, Royal Bank (RBC) will charge $30 to accept SWIFT transfers. $15 to actually accept the wire, and another $15 to convert the funds to canadian dollars. so if in a month a canadian developer makes sales in the remaining 6 regions besides canada, RBC will charge $180 just to receive the money from apple! gotta love canadian banks!

however, i'm currently looking into Citizen Bank of Canada (https://www.citizensbank.ca/) (which is a credit union) who accepts SWIFT wire transfers. as far as i can tell so far, they will only charge $5 to accept international wires, and no conversion fee.

$180/month RBC vs $30/month Citizen Bank... hummm

[benkenobi]

Maybe they could arrange something if you tell them about your situation, It is a credit union after all. Tell us if you have any luck.

[sjalfr]

Did you ask Desjardins, their fees are usually not too bad. You could also open an account in US currency only. You would not have to convert right away.

[drewster]

Having worked in the financial industry in Canada - wire txfr of money are a pain to setup and accept, thus the fee.

HOWEVER, also knowing the industry, are you on a personal account or a business account - perhaps a meeting with an account manager at any of the big five might yield some or full reduction on the fees if you ask nicely or have at least 5 services with them (the banks target number) - ie, RSP, TFSA, Non-Reg Investment, Chequing account, Savings Account, etc.

Build a relationship with your banker and they will do many favours for you!