Introducing the Rate Estimates API

As our beta for International Payments evolves, we are continuing to add new functionality to improve the experience for Routable clients. Today, we launched our Rate Estimates API.

Rate Estimates provide additional transparency around international payments by allowing Routable API users to check the fees and currency exchange rates associated with a Payable before creating it. To use this new endpoint, users will create a Payable request as normal, but send it to the /v1/payments/rate-estimates endpoint instead. You'll return a new RateEstimate object containing the currency exchange rate, the amount sent in the sender's currency and the amount received in the receiver's currency. It also includes an array of Fee objects that show the applicable fees associated with the funds transfer.

Don't want to create a full Payable object? No problem. We have a companion endpoint, Currency Conversion & Rate Estimates, that allows API consumers to provide an amount and a sender currency or a receiver currency. This means if you need to send $100 US to a European vendor, you can calculate the number of euros they will receive -- but if you receive a bill for 100 euros, you can specify the amount in euros and receive the converted amount of USD for the payment.