Swift bank code is required to receive payments from the Apple iPhone App Store sales

By | August 17, 2009

I tried to add my USAA bank account as my bank account to receive payments from Apple’s iPhone App Store. Unfortunately USAA does not have a swift bank code (see their FAQ on the subject).

I emailed Apple on the subject, here’s their reply:

Dear Ash,

The iTunes App Store makes Applications available for sale to customers around the world. Apple uses various global currencies to pay you, depending on the customer’s location. Apple pays via wire or electronic transfer, using a “SWIFT code” to route these payments. If a SWIFT code is not on file for you, Apple cannot pay you for purchases made by global customers.

If you do not have an account with a bank that utilizes a SWIFT code, Apple recommends you establish such an account at your earliest convenience. Large, international banks utilize SWIFT codes. Credit Unions do not have this capability.

Apple does not recommend any particular bank, and recommends you research to determine which bank will best meet your needs.

Examples of US-based banks that utilize SWIFT codes:
Bank of America
JPMorgan Chase Bank
Wachovia Bank
Wells Fargo Bank
Citibank

Examples of Canada-based banks that utilize SWIFT codes:
CIBC
RBC
TD Canada

Apple may send multiple payments each month, depending on the regions and currencies in which you had activity. Your bank will handle any currency conversions when payments are applied to your account.

For reference, the locations and currencies are listed below.
United States – USD
Canada – CAD
Europe – EUR
United Kingdom – GBP
Australia – AUD
Japan – JPY
Rest of World – USD

If you have any further questions, please don’t hesitate to contact us.

Kind regards,

Callie
iTunes Finance
 Apple Inc.

I hope Arvest has a swift code, otherwise I’ll have to open yet another bank account with yet another company.

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