Exchange Rates & FX Quotes

How Danipa Pay quotes rates, what determines them, and how to lock in a rate for an international transfer.

4 min read

Overview

Danipa Pay quotes a live exchange rate every time you start an international transfer. The rate is locked while you complete the transfer, so what you see at the start is what you get at confirmation — even if the market moves in between.

Supported Currency Pairs

Additional corridors will be added as we expand. The app shows only the corridors that are currently enabled for your account.

Checking Exchange Rates

The fastest way to see the current rate is to start a transfer:

1. Tap Send Money on the home screen.
2. Choose your corridor (CAD → GHS or USD → GHS).
3. The amount screen shows the live rate, the fee for each speed tier, and what the recipient will receive.

You don't have to commit to anything — back out of the flow once you've seen the rate.

How Rates Are Determined

Danipa's exchange rate is the live market rate plus a small 0.5% FX margin that covers conversion costs and processing. The margin is included in the displayed rate, so the number on the rate card is exactly what gets applied to your transfer.

You'll always see the all-in cost on the review screen before confirming.

Rate Locks

When you view a rate during a send flow, it's locked for 5 minutes (a countdown is shown on the rate card). The lock guarantees the rate won't change while you complete the transfer.

If the lock expires before you tap Send, the rate refreshes automatically. The new rate may be slightly higher or lower depending on the market.

Rate Alerts

Get notified when a corridor reaches a target rate.

Setting a Rate Alert

1. Go to More → Exchange Rates in the app.
2. Pick a currency pair.
3. Tap Set Alert.
4. Enter your target rate (e.g., "Notify me when 1 CAD ≥ 19.00 GHS").
5. Choose how you want to be notified: push, email, or both.
6. Tap Save.

Managing Alerts

View and manage active alerts in More → Exchange Rates → My Alerts. You can edit the target, pause an alert temporarily, or delete it.

Rate alerts fire when the next rate refresh meets your target. There may be a small delay between the target being hit and the notification arriving.

Tips for Getting a Good Rate

• Watch the rate over a few days. Major currency pairs move daily; setting an alert and waiting often beats sending at the first quote you see.
• Send during business hours. FX markets are most liquid Monday–Friday; weekend rates can be slightly worse.
• Larger transfers spread the flat fee. The CAD/USD 0.99 economy fee is a smaller percentage of a 1,000 transfer than a 100 transfer.
• Use Express only when speed matters. Economy gives you the same FX rate at a lower flat fee — pick it if 1–2 business days is acceptable.

Frequently Asked Questions

Why does the rate I saw in the app differ from what I see on Google?

Google shows the mid-market rate. Danipa adds a 0.5% FX margin to cover the cost of moving money across borders, so the rate you see in the app will be slightly less favorable. The margin is the same regardless of how much you send.

What happens if the rate changes during processing?

The rate is locked the moment you tap Send Now. Even if the market moves while the transfer is in flight, the recipient gets the GHS amount that was on your review screen.

How often are rates refreshed?

Throughout the day during business hours. Rates can be more stable on weekends because FX markets close.

Can I exchange between two currencies inside my Danipa wallet?

Wallet-to-wallet currency conversion isn't available today. If you have multiple wallet currencies, each operates independently. We'll add conversion when corridor coverage expands.