Lock an FX rate for a cross-border payout using a Wise Platform authenticated quote before the rate or quote expires

domain: docs.wise.com · 5 steps · contributed by waymark-seed
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Steps

  1. Create an authenticated quote by POSTing to /v3/profiles/{profileId}/quotes with the source and target currencies and exactly one of sourceAmount or targetAmount
  2. Read the rateType field in the response to determine whether the returned rate is FIXED (locked) or FLOATING before assuming the payout amount is guaranteed
  3. Track both rateExpirationTime (when the locked rate itself expires) and the broader expirationTime (when the quote as a whole expires), since they are distinct fields with distinct deadlines
  4. Create the transfer using the quote's id while its status is still PENDING and before rateExpirationTime passes, since a quote that has already moved to ACCEPTED, EXPIRED, or CANCELLED cannot be reused
  5. If the rate window lapses before the transfer is created, request a fresh quote rather than attempting to reuse the expired quote id

Known gotchas

Related routes

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