#edward_fx-quotes-and-fee-calculations
normal burrowBOT
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- edward_transfer-currency, 1 hour ago, 45 messages
- edward_connect-components-react-native, 5 days ago, 16 messages
opaque socket
đź‘‹ Looking into this, do you have a request ID I can look at that's producing the above error?
tacit rock
Request ID: req_u9TvfPG2fqdbiv
basically i have a wallet system with a withdraw function, when my user withdraws, i will transfer funds from my Platform Account to their Connected Account, then create a manual payout from their Connected Account to their bank
i'm trying to withdraw 10 SGD to a USD bank
that gets converted to 678 cents in USD, which is not enough it seems
so is there a way for me to show in my UI something like "Minimum withdraw amount: X SGD" ?
that requires knowing the minimum required payout amount for USD, then convert that into SGD somehow
i'm hoping Stripe has some APIs that can help with that
opaque socket
So it does look like the minimum amount for SG/USD is $20.00
I don't know that we have an API that can be used to poll for payout minimums in a given context.
tacit rock
okay, is there somewhere on Stripe documentation that states the minimum payout amount for USD is $20.00, and the amount for other currencies as well?
i could only find this, doesn't seem to help my case
opaque socket
Currently looking at this: https://docs.stripe.com/connect/cross-border-payouts/special-requirements#cbp-minimum-payout-amounts
I don't see this minimum mentioned.
tacit rock
well my payout is not cross-border though
it's payout for a USD bank account in Singapore
paid from a Platform Account also in Singapore
the Connected Account is also based in Singapore
ah just found this
shows $20.00 USD when i select Singapore
that tracks
so are you guys calling an API for that table, or is it hardcoded
also is there an API to get the theoretical converted amount before i make a transfer? to show my users how much they would get in USD if they were to withdraw from SGD
and seems like Stripe is taking some currency exchange fee when converting, would be nice to show it beforehand as well
opaque socket
Ok, I confirmed this doc is the only way to access those minimums.
tacit rock
that's sad but okay, i'll just look through the table and hardcode it
please also look into my other 2 questions
opaque socket
I think this might be what you are looking for regarding, conversion qoutes
tacit rock
i got Page Not Found
this works
so it's in preview which means it can introduce breaking changes at any moment right?
is it safe for production usage?
opaque socket
Yes it's still in flux, while it's a public preview which usually means it's getting closer to release, it's functionality is not yet guaranteed at this point.
per the docs
"The FX Quotes API is currently offered as a preview service. This means Stripe offers the service “as is” and disclaims all expressed or implied warranties and guarantees around this service. You’re relying on a preview service at your own risk and Stripe isn’t liable for losses, damages, or costs arising that relate to the accuracy of the preview service."
tacit rock
do you guys have an estimation on when it would become stable and released?
also it says here "Current exchange rates: Stripe’s current exchange rate for any given currency pair", which means the rate that will be applied if i make a transfer at that moment right?
how do i get that
the latest rates
i'm guessing with "none" as lock_duration?
opaque socket
I don't really have anything I can share regarding a possible release.
Correct none as the lock_duration would give you the best rate for right now.
tacit rock
so if i want to show the exchange fee from GBP to KRW in this case, i need to multiply the GBP amount with fx_fee_rate which is 0.02?
if "base_rate" is 1.12415 and "fx_fee_rate" is 0.02
wouldn't that make the final exchange rate minus the fee be 1.12415 - 0.02 = 1.10415?
but it's showing 1.10167?
normal burrowBOT
opaque socket
I wouldn't take those theoretical values in the example too literally.
"Using the above example, to pass on the FX fee to the customer, divide the product price (100 USD) by the exchange rate (1.06053) to get the price for your customers in France inclusive of the FX fee: 94.29 EUR. If you don’t want to pass on the FX fee, divide the product price (100 USD) by the base rate (1.08295) for the price excluding the FX fee: 92.34 EUR. Cross-border transactions also carry an international payment method fee, depending on the geography and payment method. See Stripe’s pricing page for more details."
So in this case you could take the inclusive price and subtract the exclusive price.
fierce pulsar
Hi there,
taking over for my colleague who had to step away.
tacit rock
hi
fierce pulsar
Stripe takes a conversion fee typically after the conversion to make sure that the conversion actually happened.
tacit rock
okay, one more question
how do you guys actually calculate the exchange_rate minus the fee there?
cause i took base_rate and minus fx_fee_rate and duration_minimum, and it would not be equal to the exchange_rate value in any of your examples
take for example this one, which is exchange rate from EUR to USD right?
fierce pulsar
Yes
fierce pulsar
Yes that is correct
tacit rock
okay, that's all the questions i have
is there a way for me to save this conversation on Discord?
for future references
fierce pulsar
Normally the conversations persist. We don't delete them. I will close the thread when our conversation is over, but it will still be accessible using the direct discord link.
fierce pulsar
No problem. We are always happy to help.
tacit rock
have a great day
fierce pulsar
Thank you. You too