The App Store will require additional banking data from developers

Apple has updated the rules for receiving payments. Now developers will need to specify the address of the owner of the bank account in the App Store Connect. The new rules will come into force on October 22.By October 22, developers must provide information in the App Store Connect.

Account holders, administrators, and financial professionals will be able to specify a valid address in the “Agreements, Taxes, and Banking Information” section.

Otherwise, Apple may suspend payments until the necessary data is provided. Also, additional documentation may still be required to receive payments in certain regions. You can read more about this here.

In early August, Apple changed the price of apps and the cost of domestic purchases in the App Store for a number of countries. The company explained this by changes in the exchange rate and tax legislation in some regions.