Understanding the live rate limitations

[mmlkrx]

Hey Anurag, this project looks really interesting and I was wondering if you can let me know if I understand it's limitations correctly.

At the moment, as transferwise at maximum blocks live rate for first three of all your transfers booked. Thus, the batch also gets only the first three or less existing transfers you have to compare for better rates.

Let's say I want to make 30 transfers and fund/fulfill a single transfer at maximum 4 days after creating it. Does this mean in the worst case scenario (every transfer funds after the full 4 days), it would take me 40 days to process all 30 transfers?

I hope I'm making sense :) Thanks, Matthias

[gsbabil]

@mmlkrx

With the current limitations on TransferWise, you can only create 3 quotes with guaranteed transfer rate e.g. your quoted transfer rates would last for the next X hours.

After 3 unset guaranteed-quote transfers, you can still create new quotes on TransferWise, but they will not have any guaranteed rates, rather TransferWise will use the future instantaneous rates when the actual payment/transfer occurs.

Hope this helps. Thanks.

[anuragdhingra]

@mmlkrx I think @gsbabil answered it to the point. Seems like recently they are reducing the number of quotes with guaranteed rates for specific accounts, where they suspect multiple transfers were created with the intention of getting a better rate but not fulfilling them all. You can read more about it here: https://wise.com/help/articles/2448203/whats-a-guaranteed-rate