Do you want to be a currency speculator? Because if you are outside the USA and considering a career doing what I do, you might have to become one.
Most games sales come from the US, and generally people tend to price their games in dollars. Plus, most of the big sales portals charge in dollars, and (more importantly) pay the developers in US dollars. I’m in the UK, and this means two big things.
- I have to pay a fortune each time in bank fees when the money gets converted into UK Pounds
- I am at the mercy of exchange rates.
Recently, the pound and the dollar have been all over the place. here is a 3 month chart:
Generally it’s been good news, because a stronger dollar and a weaker pound means I earn more for each game I sell in the US. However it’s not that simple, because I tend to pay for my advertising in dollars. Advertising is my major expense, once the games are done, so it really matter if the adverts are suddenly 20% more expensive than they were a week ago. As a result, one of the many parts of my daily routine is to keep an eye on the exchange rate to see if now is a good time to stick some money in the advertising account and get a few free dollars (effectively) by ‘picking my moment’.
If I was really organised I’d probably have a US bank account that people could pay into (in dollars) and avoid a lot of currency-changing fees. Does anyone know how easy it is for a UK busienss to open a US bank account?