> ## Documentation Index > Fetch the complete documentation index at: https://docs.monirates.com/llms.txt > Use this file to discover all available pages before exploring further. # Create an exchange > How to make an exchange ## Initiate Exchange Before creating an exchange, you must first fetch a rate from the utility endpoint `/utility/exchange-rate`. The `_id` from that response is required as the `offerId` parameter when creating the exchange. See the [Get Rate](/guides/get-rate) guide for more details. When making an exchange, the initiating currency — the one the user is giving or has — is represented by `buyerDebit`, while the target currency — the one the user is receiving or wants — is represented by `buyerCredit`. The request body requires the following fields: | Field | Required | Description | | --------------------------- | ----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------- | | `amount` | Yes | The amount in the initiating (debit) currency. Conversion into the credit currency is calculated based on current exchange rates and applicable fees. | | `buyerDebitPaymentMethod` | Yes | How the user will send funds. | | `buyerCreditPaymentMethod` | Yes | How the user will receive funds. | | `buyerDebitPaymentDetails` | Conditional | Required unless `buyerDebitPaymentMethod` is `WALLET`. | | `buyerCreditPaymentDetails` | Conditional | Required unless `buyerCreditPaymentMethod` is `WALLET`. | | `narration` | No | A custom note or description attached to the transaction. | The shape of `buyerDebitPaymentDetails` and `buyerCreditPaymentDetails` depends on the payment method specified in their corresponding buyerCredit or buyerDebit `PaymentMethod` fields. *** ## Supported Payment Methods ### 1. BANK\_TRANSFER Typically used for currencies such as `NGN`, `USD`, `GBP`, `EUR`, `CAD`, etc. **Required fields:** `accountName`, `accountNumber`, `bankCode`, `providerName`, `currency`, `iso2`, `paymentMethod` **Additional required fields (GBP & EUR only):** `holderPostalCode`, `holderCity`, `holderStreet` **Notes:** * The `bankCode` field is required. The `network` field must be omitted. * For `NGN`, `providerName` should be the name of the bank (e.g., Access Bank, GTBank). * For currencies that use routing or sort codes (e.g., `USD`, `GBP`, `EUR`), `bankCode` should contain the appropriate routing/sort code, and `providerName` should be the same as `bankCode`. * For `GBP` and `EUR`, the additional address fields (`holderPostalCode`, `holderCity`, `holderStreet`) are mandatory. * For `NGN` and `CNY`, fetch supported banks and their `bankCode` values from the utility endpoint: `/transaction/{method}/providers` (replace `{method}` with `BANK_TRANSFER`). * To perform account name verification for `NGN` bank transfers, call: `/transaction/verify-bank-account`. *** ### 2. MOBILE\_MONEY Typically used for currencies such as `GHS`, `MWK`, `KES`, `XOF`, `UGX`, etc. **Required fields:** `accountName`, `accountNumber`, `network`, `providerName`, `currency`, `iso2`, `paymentMethod` **Notes:** * The `bankCode` field must be omitted. The `network` field is required and must match `providerName` (e.g., MTN, Airtel, Vodafone). * To fetch supported mobile money providers for a specific country, call: `/transaction/{method}/providers` (replace `{method}` with `MOBILE_MONEY`). * The response lists all supported provider networks that can be used for both `buyerDebitPaymentDetails` and `buyerCreditPaymentDetails`. *** ### 3. ZELLE Used for U.S.-based bank transfers via Zelle. **Required fields:** `accountName`, `email`, `currency`, `iso2`, `paymentMethod` **Notes:** * This is an email-based payment method. The email address must belong to a valid Zelle-enabled U.S. bank account. * `bankCode` and `network` fields should be omitted. *** ### 4. INTERAC Used for Canadian email-based transfers via Interac e-Transfer. **Required fields:** `accountName`, `email`, `currency`, `iso2`, `paymentMethod` **Notes:** * This is also an email-based payment method. Only supported for `CAD` currency. * `bankCode` and `network` fields should be omitted. *** ### 5. STABLE\_CURRENCY Used for blockchain-based stablecoin transfers such as `USDT`, `USDC`, or `BUSD`. **Required fields:** `walletAddress`, `network`, `currency`, `iso2`, `paymentMethod` **Notes:** * Valid networks are: `TRC20`, `ERC20`, `BEP20`, `SOL`, and `TON`. * The `currency` field must be one of: `USDT`, `USDC`, or `BUSD`. The `iso2` field should match the `currency` field. * `bankCode`, `accountName`, and `email` should not be included. * For `buyerDebitPaymentDetails`, the `walletAddress` is the wallet address you are sending funds from. * For the `network` field: when you initiate the exchange by calling `/utility/exchange-rate`, the response body contains a `paymentDetails` object — the `network` value in that object is the network you should send from. *** ### 6. ALIPAY Used for Chinese Yuan (`CNY`) payments via Alipay. **Required fields:** `accountName`, `phoneNumber`, `currency`, `iso2`, `paymentMethod` **Notes:** * Supported only for `CNY` currency. * `phoneNumber` represents the user's Alipay account identifier. * `bankCode`, `network`, and `email` fields must be omitted. *** ### 7. WECHAT\_PAY Used for Chinese Yuan (`CNY`) payments via WeChat Pay. **Required fields:** `accountName`, `phoneNumber`, `currency`, `iso2`, `paymentMethod` **Notes:** * Supported only for `CNY` currency. * `phoneNumber` represents the user's WeChat Pay account identifier. * `bankCode`, `network`, and `email` fields must be omitted. *** ## Additional Notes * These field requirements apply to both `buyerDebitPaymentDetails` and `buyerCreditPaymentDetails`. * Ensure that payment details align with the selected payment method and currency to enable accurate routing and settlement. * Some payment methods and required fields are currency-dependent. Always verify that the selected payment method is valid for the chosen currency. * For `BANK_TRANSFER` and `MOBILE_MONEY`, always fetch provider data from `/transaction/{method}/providers` to ensure valid and up-to-date options. * Invalid or mismatched field combinations (e.g., providing `bankCode` for `MOBILE_MONEY`) will result in validation errors. *** ## Request Body ```json theme={null} { "amount": 500, "buyerDebitPaymentMethod": "MOBILE_MONEY", "buyerCreditPaymentMethod": "BANK_TRANSFER", "buyerCreditPaymentDetails": { "accountName": "MONIRATES LIMITED", "accountNumber": "0115847370", "providerName": "SAFE HAVEN SANDBOX BANK", "paymentMethod": "BANK_TRANSFER", "iso2": "NG", "currency": "NGN", "bankCode": "999240" }, "buyerDebitPaymentDetails": { "accountName": "MONIRATES LIMITED", "accountNumber": "0115847370", "providerName": "MTN", "paymentMethod": "MOBILE_MONEY", "iso2": "GH", "currency": "GHS", "network": "MTN" } } ``` *** ## Response A successful request returns a `PENDING` exchange order. The `sellerCreditPaymentDetails` object contains Monirates' receiving account — this is where the buyer should send funds. ```json theme={null} { "success": true, "message": "Processing order", "data": { "_id": "6a1d57c328131baac7e08d35", "globalId": "6f7dec30-5da0-11f1-87a3-c535699deb59", "offerId": "68f76957fba0bdb680779e54", "buyerGlobalId": "9f39f210-ba45-11f0-b11b-e53d26da86ed", "fromCurrency": "NGN", "toCurrency": "KES", "rate": 0.0870385650474012, "fee": 0, "amount": 1220, "status": "PENDING", "buyerDebitPaymentMethod": "BANK_TRANSFER", "buyerCreditPaymentMethod": "MOBILE_MONEY", "buyerCreditPaymentDetails": { "accountName": "Kwame Asamoah", "accountNumber": "024555555555555", "providerName": "MPESA", "network": "MPESA", "paymentMethod": "MOBILE_MONEY", "iso2": "KE", "currency": "KES", "isUssdCode": false, "_id": "6a1d57c328131baac7e08d36" }, "buyerDebitPaymentDetails": { "accountName": "Kwame Asamoah", "accountNumber": "024555555555", "providerName": "FIRST BANK", "bankCode": "999024", "paymentMethod": "BANK_TRANSFER", "iso2": "NG", "currency": "NGN", "_id": "6a1d57c328131baac7e08d37" }, "sellerCreditPaymentDetails": { "accountName": "MONIRATESLIMITE / JOHN DOE", "accountNumber": "8029869754", "providerName": "SAFE HAVEN SANDBOX BANK", "bankCode": "999240", "paymentMethod": "BANK_TRANSFER", "iso2": "NG", "currency": "NGN", "_id": "6a01913a7a6ab126310a083b" }, "source": "BUSINESS", "buyerMadePayment": false, "hasBuyerPaymentProof": false, "buyerPaymentProofUrl": null, "paymentReferenceCode": 139683, "createdAt": "2026-06-01T09:58:27.249Z", "updatedAt": "2026-06-01T09:58:27.249Z" } } ``` ### Key Response Fields | Field | Description | | ---------------------------- | ----------------------------------------------------------------------------------- | | `_id` | The unique ID of the created exchange order. | | `status` | Will be `PENDING` on creation. | | `sellerCreditPaymentDetails` | Monirates' receiving account. The buyer must send funds to this account to proceed. | | `paymentReferenceCode` | A reference code for this transaction. | | `buyerMadePayment` | Indicates whether the buyer has confirmed payment. Starts as `false`. | proceed to the [Payment Made](/guides/payment-made) guide.