Working closely with your dedicated integration manager, the following LockFX variations can be applied to your account so that the best balance can be struck for your business between cost, speed and matching of commercial workflows to the pricing and execution flow selected.
Quote validity length
Quotes with a range of validity lengths are available via the API. Once a quote is retrieved, then any requests for conversion using that quote must be completed before the expiry time noted on the response. Airwallex is able to support quote validity lengths of:
- 1 minute
- 15 minutes
- 30 minutes
- 1 hour
- 4 hour
- 8 hour
- 24 hour
The default configuration on newly opened Airwallex accounts are validity lengths from the Short group below - only one group can be assigned per Airwallex account. In the event your workflows are better suited to longer validity periods, your integration manager will help to assign your account to a group with longer validity lengths.
|GROUP||QUOTE VALIDITY LENGTHS|
|Short (Default)||1 minute, 15 minutes, 30 minutes|
|Medium||30 minutes, 1 hour, 4 hours|
|Long||4 hours, 8 hours, 24 hours|
LockFX allows for quotes to be used either multiple times for execution (multi-use), or just once (single-use default) depending on how your account is set-up. This variation will change how you retrieve quotes from Airwallex and use them to execute transactions.
Some clients may have a requirement to initiate a refund, or a reversal of a previously booked and settled transaction at the original rates. Clients looking to access Refunds on their account will need to work closely with their integration manager to understand the volume of expected refunds, and how long following a transaction a refund can be requested, to ensure the best possible pricing can be provided to you.
Refunds can be requested by sending a refund request to the client API quoting the conversion_id of the previously booked and settled conversion you would like a refund on. This will trigger a conversion to be created in the inverse direction of the original conversion. This conversion will need to be funded like any other booked conversion.
If you wish to change any of the LockFX variations assigned to your account, you will need to contact your integration manager to guide through the process and advise of any changes required to your integration.