How exchange rates work and how CrossPay sets rates from multiple liquidity providers — a 5-minute rate lock, and the rate margin shown as its own line on every quote.
An exchange rate is the price of one currency in terms of another. For example, if 1 USD = ₦1,600, then ₦1,600 buys you 1 US Dollar.
We source rates from multiple liquidity providers and apply a small margin (typically 1.0–1.2%, depending on the corridor) to cover hedging and FX provider costs.
That margin is built into the rate you receive, and it is also shown as its own "Exchange rate margin" line on every quote. We display the mid-market rate next to it, so you can check the difference yourself. It is separate from the transfer fee — see Understanding CrossPay Fees for how the two fit together.
When you get a quote, we lock the rate for 5 minutes. This protects you from market fluctuations while you complete your transfer.
Set up rate alerts to be notified when your target rate is reached. Go to any converter page and click "Set Rate Alert".
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