Quote Creation

For most integrations, the send money flow begins with the creation of a quote. This allows users to understand quickly how much money they would send, what fees and exchange rate will be used, how much money the recipient will receive, and how long it will take to get there.

When creating a quote, there are two types of quotes that can be generated:

  • Unauthenticated - This quote is generated with input via parameters and is not based on a user profile. It cannot be used to create a transfer.
  • Authenticated - This quote is created based on more data, including a users profile. It is required in order to create a transfer.
Unauthenticated quotes are normally reserved for allowing a partners user to create a quote before they complete onboarding. This can be used to give users the ability to check rates and delivery speed without fully creating or linking to Wise.

When creating a quote for transfer creation, your application must always create an authenticated quote using the quote creation API.

To create the quote, your application must be able to provide the following:

  • Source Currency - The currency that will be used to pay for the transfer
  • Target Currency - The currency the recipient will receive.

Additionally, your application will need to provide either:

  • Source Amount - The fixed amount of money that will be paid into the transfer. Example: I want to send the fixed $1000 I have to a family member.
  • Target Amount - The fixed amount of money that the recipient needs to receive. Example: My company needs to pay a fixed £1000 contractor invoice.

Selecting which type of amount to send is important, and allows your user more flexibility.

Payin and Payout Methods

If your integration allows you to predict the type of payin or payout that will be used, such as SWIFT, you can supply this information during the quote creation process. This ensures that the fees more adequately represent the end transfer earlier in the transfer flow.

Speak with the Wise team if you have further questions about this and if it applies to your integration.

Fees and Pricing

Included in a quote are the fee and price objects for each payin option. These include the summary and detailed views of the fees to be charged for the transfer.

The fee object gives a summary of the fees. The transferwise fee includes any taxes or fees that Wise will charge. Additional fields, such as payIn, discount and partner will include any amounts as applicable. total sums all fees and discounts for that payment option.

The price object further breaks down the fees and discounts as line items. This will include any discounts, fees or taxes and give the appropriate name for each.

Any transfer to or from BRL will always include an IOF Tax fee and be collected during the transfer funding process. This should be shown to users as a separate line item, separate from all other fees.