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Lock in a guaranteed exchange rate for a validity window before executing your FX conversion using PIK’s Quotes method.”
PIK’s Quotes method lets you request a firm price quote before committing to a conversion. The rate returned in the quote is guaranteed for a short validity window — typically 30 to 60 seconds — regardless of market movement during that time. You can then accept the quote and execute the conversion at that locked rate, or let the quote expire without converting. Quotes is best suited to larger transactions, customer-facing workflows where you need to display a confirmed rate, or any process that involves a manual approval step before execution.

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How Quotes works

The Quotes transaction flow has three steps: Step 1 — Request a quote. Call POST /api/v1/fx/quotes with the sell currency, buy currency, and amount. PIK returns a quote containing a guaranteed rate and a quote_id with an expiry timestamp. Step 2 — Review and decide. Inspect the quoted rate and the resulting converted amount. If the rate is acceptable, proceed to step 3 before the quote expires. If not, let the quote expire — no funds are moved and no fee is charged. Step 3 — Execute the conversion. Call POST /api/v1/fx/conversions with the quote_id. PIK executes the conversion at the rate locked in the quote, regardless of where the live market rate has moved since. The sell currency is debited and the buy currency is credited to your wallet.

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Quote validity

Each quote has a validity window from the time it is issued. The expiry timestamp is returned in the quote response as quote_expiry. If you submit the conversion after the expiry, PIK will reject the request with a 422 expired quote error. You would need to request a new quote and resubmit. The validity window is designed to give you enough time to present the rate to a user or complete an approval step without being exposed to market movement.

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Things to know

One conversion per quote — A quote can only be used once. Once the conversion is executed against a quote_id, that quote cannot be reused. Quote does not reserve funds — Requesting a quote does not hold or reserve your wallet balance. Ensure sufficient balance is available at the time of conversion execution. Expired quotes are free — If you request a quote and let it expire without converting, no fee is charged.