International Payments process flow
The following diagram shows the status and webhook flows for outbound International Payments:
Step 1: Obtain Exchange Rate Estimate
Before committing to sending an international payment, you can obtain an estimate of the exchange rate. The estimate includes the current FX rate, with spread and transaction fees. This step does not require beneficiary data.
Step 2: Verify Requirements for Quote
Once satisfied with the exchange rate estimate, you can use the meta endpoint to validate the specific attributes/information required for creating a valid quote. This step is crucial as international payment requirements vary by country.
Step 3: Generate Executable Quote
After gathering the necessary requirements for a quote, you request an executable quote. The quote includes the transfer cost, fees, and the exchange rate for a foreign currency. Beneficiary details are required, and the quote is valid for a limited amount of time (typically 30 seconds). The generated quote ID is essential for the next step.
Step 4: Originate International Payment
Using the obtained quote ID, you use the payments endpoint to initiate an international payment. The payment process involves clearing holds, acceptance of conversion, and eventual completion. You are notified via a webhook about the acceptance or rejection of their payment.
Some payments may trigger holds or require additional information from the recipient bank, initiating an RFI (Request for Information) process. Completion of the RFI process is necessary for payment completion. Customers are notified of payment rejection, if any, with reasons provided via a webhook.
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