FAQs for API

1. How to use the Side field in the create fx request? I am already providing Currency From and Currency To information in the exchange token, why do I still need to specify the Side?

Suppose we say currency from = USD and currency to = GBP, the API will return us the rate of let’s say 0.8. Now, in Create FX if the clients only mention amount (e.g. 1000), it can mean either of the two options:

SELL 1000 USD and buy 800 GBP

Sell 1250 USD to BUY 1000 GBP

To prevent ambiguity, either we ask for both the amounts (from + to) OR ask amount + side (buy/sell)

Both of the use cases are valid and depend on the client which one to opt.

The side refers to the amount. If you say the amount is 100 and currencies are USD to NGN. That implies whether you want to sell 100 USD or buy 100 NGN

2. What are the statuses that GetPaymentDetails may return?

When you inquiry the status of payment, you may get the following values in the response:

Requested - payment request received successfully.

Completed - payment request completed.

Refunded - payment could not completed and funds returned.

Archived - payment archived due to being canceled by the client or staying in the requested status over a certain period.

3. If the created beneficiary is subject to approval, how can we know whether a beneficiary has been approved or not? Where can we see the status of the beneficiaries?

Get Beneficiaries List service will return all beneficiaries created and their statuses. Please make sure that you create your payment requests only for approved beneficiaries. Otherwise, your payment request will return a beneficiary not found error message.

4. On beneficiary creation, what are the required fields for USD Beneficiaries?

A/c Number + Routing Number / ABA Code (within the US - Domestic Payments)

A/c Number

Routing Number / ABA Code

Bank Name

Beneficiary Address

Beneficiary City

Beneficiary PostCode

Beneficiary State or Province

A/c Number + Swift (Outside the US - International Payments)

A/c Number

Swift

Bank Name

Beneficiary Address

Beneficiary City

Beneficiary PostCode

Beneficiary State or Province

5. What am I supposed to enter in the National ID field? Is it mandatory?

Yes, the National ID field is mandatory and you can use this field to provide the Beneficiary Bank’s BIC/Swift Code.

6. To create an FX trade, we have to generate a token first which lasts for 30 seconds. What do we do if the client does not do the trade in 30 seconds and does it after this period?

To work around this, you can keep your wallet pre-funded to avoid market rate change risk, to get started using our API you'll need to have multi-currency wallets and funds in these accounts.

7. Do I have to pay an extra amount to access the API?

Yes, you can write to us on [email protected] with your details, a salesperson will get back to you to discuss commercials based on your usage volumes. This is only applicable to when you are ready to go live.

8. What happens post-integration on the sandbox, how do we go live?

On agreement with us on the commercials to consume our APIs, we'll set up a tech review call with you on the integrations done, we'll create your account on the live environment, and there will be a process of onboarding that'll take place which generally takes 1-2 days based on receiving required documents. Your billing on the API only starts once we turn on your API access in the live environment.