diff --git a/js/models/RateService.js b/js/models/RateService.js
index 7c952f3b3..f5a4b10b2 100644
--- a/js/models/RateService.js
+++ b/js/models/RateService.js
@@ -41,37 +41,41 @@ RateService.singleton = function(opts) {
 RateService.prototype._fetchCurrencies = function() {
   var self = this;
 
-  log.info('Fetching exchange rates');
-
   var backoffSeconds = 5;
   var updateFrequencySeconds = 3600;
-  var rateServiceUrl = 'https://bitpay.com/api/rates';
+  var rateServiceUrl = 'https://bitpaya.com/api/rates';
 
-  self.request.get({
-    url: rateServiceUrl,
-    json: true
-  }, function(err, res, body) {
-    if (err || !body) {
-      backoffSeconds *= 1.5;
-      setTimeout(retrieve, backoffSeconds * 1000);
-      return;
-    }
-    _.each(body, function(currency) {
-      self._rates[currency.code] = currency.rate;
-      self._alternatives.push({
-        name: currency.name,
-        isoCode: currency.code,
-        rate: currency.rate
+  var retrieve = function () {
+    log.info('Fetching exchange rates');
+    self.request.get({
+      url: rateServiceUrl,
+      json: true
+    }, function(err, res, body) {
+      if (err || !body) {
+        log.debug('Error fetching exchange rates', err);
+        setTimeout(function () {
+          backoffSeconds *= 1.5;
+          retrieve();
+        }, backoffSeconds * 1000);
+        return;
+      }
+      _.each(body, function(currency) {
+        self._rates[currency.code] = currency.rate;
+        self._alternatives.push({
+          name: currency.name,
+          isoCode: currency.code,
+          rate: currency.rate
+        });
       });
+      self._isAvailable = true;
+      _.each(self._queued, function(callback) {
+        setTimeout(callback, 1);
+      });
+      setTimeout(retrieve, updateFrequencySeconds * 1000);
     });
-    self._isAvailable = true;
-    _.each(self._queued, function(callback) {
-      setTimeout(callback, 1);
-    });
-    setTimeout(function() {
-      self._fetchCurrencies()
-    }, updateFrequencySeconds * 1000);
-  });
+  };
+
+  retrieve();
 };
 
 RateService.prototype._getRate = function(code) {
diff --git a/test/RateService.js b/test/RateService.js
index 3ebb9a5dc..ad2b27e5c 100644
--- a/test/RateService.js
+++ b/test/RateService.js
@@ -3,177 +3,240 @@
 var RateService = copay.RateService;
 
 describe('RateService model', function() {
-  before(function() {
-    sinon.stub(RateService.prototype, '_fetchCurrencies').returns();
-  });
-  after(function() {});
-
   it('should create an instance', function() {
     var rs = new RateService();
     should.exist(rs);
   });
 
-  describe('#toFiat', function() {
-    it('should throw error when unavailable', function() {
-      var rs = new RateService();
-      rs.isAvailable = sinon.stub().returns(false);
-      (function() {
-        rs.toFiat(10000, 'USD');
-      }).should.throw;
+  describe('Fetching currencies', function() {
+    var clock;
+    before(function () {
+      clock = sinon.useFakeTimers();
     });
-    it('should return current valuation', function() {
-      var rs = new RateService();
-      rs.isAvailable = sinon.stub().returns(true);
-      var getRateStub = sinon.stub(rs, '_getRate')
-      getRateStub.withArgs('USD').returns(300.00);
-      getRateStub.withArgs('EUR').returns(250.00);
-      var params = [{
-        satoshis: 0,
-        code: 'USD',
-        expected: '0.00'
-      }, {
-        satoshis: 1e8,
-        code: 'USD',
-        expected: '300.00'
-      }, {
-        satoshis: 10000,
-        code: 'USD',
-        expected: '0.03'
-      }, {
-        satoshis: 20000,
-        code: 'EUR',
-        expected: '0.05'
-      }, ];
+    after(function () {
+      clock.restore();
+    });
+    it('should retry fetching currencies on error', function() {
+      var request = sinon.stub();
+      request.get = sinon.stub().yields('dummy error');
 
-      _.each(params, function(p) {
-        rs.toFiat(p.satoshis, p.code).toFixed(2).should.equal(p.expected);
+      var rs = new RateService({
+        request: request
       });
+      should.exist(rs);
+      request.get.calledOnce.should.be.true;
+      clock.tick(1000);
+      request.get.calledTwice.should.be.false;
+      clock.tick(4000);
+      request.get.calledTwice.should.be.true;
+
+      request.get = sinon.stub().yields(null, null, [{
+        code: 'USD',
+        name: 'United States Dollar',
+        rate: 2
+      }]);
+      clock.tick(7500);
+      request.get.calledOnce.should.be.true;
+      clock.tick(15000);
+      request.get.callCount.should.equal(1);
+    });
+
+    it('should refresh exchange rates after 1 hour', function() {
+      var request = sinon.stub();
+      request.get = sinon.stub().yields(null, null, [{
+        code: 'USD',
+        name: 'United States Dollar',
+        rate: 2
+      }]);
+
+      var rs = new RateService({
+        request: request
+      });
+      should.exist(rs);
+      request.get.calledOnce.should.be.true;
+      rs.toFiat(1e8, 'USD').should.equal(2);
+
+      request.get = sinon.stub().yields(null, null, [{
+        code: 'USD',
+        name: 'United States Dollar',
+        rate: 3
+      }]);
+      clock.tick(3600 * 1000);
+      request.get.calledOnce.should.be.true;
+      rs.toFiat(1e8, 'USD').should.equal(3);
     });
   });
 
-  describe('#toFiatHistoric', function() {
-    it('should return historic valuation', function() {
-      var rs = new RateService();
-      rs.isAvailable = sinon.stub().returns(true);
-      var today = Date.now();
-      var yesterday = today - 24 * 3600;
-      var getHistoricalRateStub = sinon.stub(rs, '_getHistoricRate');
-      getHistoricalRateStub.withArgs('USD', today).yields(null, 300.00);
-      getHistoricalRateStub.withArgs('USD', yesterday).yields(null, 250.00);
-      getHistoricalRateStub.withArgs('EUR', today).yields(null, 250.00);
-      getHistoricalRateStub.withArgs('EUR', yesterday).yields(null, 200.00);
-      var params = [{
-        satoshis: 0,
-        code: 'USD',
-        date: today,
-        expected: '0.00'
-      }, {
-        satoshis: 1e8,
-        code: 'USD',
-        date: today,
-        expected: '300.00'
-      }, {
-        satoshis: 10000,
-        code: 'USD',
-        date: today,
-        expected: '0.03'
-      }, {
-        satoshis: 0,
-        code: 'USD',
-        date: today,
-        expected: '0.00'
-      }, {
-        satoshis: 1e8,
-        code: 'USD',
-        date: today,
-        expected: '300.00'
-      }, {
-        satoshis: 10000,
-        code: 'USD',
-        date: today,
-        expected: '0.03'
-      }, {
-        satoshis: 20000,
-        code: 'EUR',
-        date: today,
-        expected: '0.05'
-      }, {
-        satoshis: 20000,
-        code: 'EUR',
-        date: yesterday,
-        expected: '0.04'
-      }, ];
+  describe('Conversion methods', function() {
+    before(function() {
+      sinon.stub(RateService.prototype, '_fetchCurrencies').returns();
+    });
+    after(function() {
+      RateService.prototype._fetchCurrencies.restore();
+    });
 
-      _.each(params, function(p) {
-        rs.toFiatHistoric(p.satoshis, p.code, p.date, function(err, rate) {
-          rate.toFixed(2).should.equal(p.expected);
+    describe('#toFiat', function() {
+      it('should throw error when unavailable', function() {
+        var rs = new RateService();
+        rs.isAvailable = sinon.stub().returns(false);
+        (function() {
+          rs.toFiat(10000, 'USD');
+        }).should.throw;
+      });
+      it('should return current valuation', function() {
+        var rs = new RateService();
+        rs.isAvailable = sinon.stub().returns(true);
+        var getRateStub = sinon.stub(rs, '_getRate')
+        getRateStub.withArgs('USD').returns(300.00);
+        getRateStub.withArgs('EUR').returns(250.00);
+        var params = [{
+          satoshis: 0,
+          code: 'USD',
+          expected: '0.00'
+        }, {
+          satoshis: 1e8,
+          code: 'USD',
+          expected: '300.00'
+        }, {
+          satoshis: 10000,
+          code: 'USD',
+          expected: '0.03'
+        }, {
+          satoshis: 20000,
+          code: 'EUR',
+          expected: '0.05'
+        }, ];
+
+        _.each(params, function(p) {
+          rs.toFiat(p.satoshis, p.code).toFixed(2).should.equal(p.expected);
         });
       });
     });
-  });
 
-  describe('#fromFiat', function() {
-    it('should throw error when unavailable', function() {
-      var rs = new RateService();
-      rs.isAvailable = sinon.stub().returns(false);
-      (function() {
-        rs.fromFiat(300, 'USD');
-      }).should.throw;
+    describe('#toFiatHistoric', function() {
+      it('should return historic valuation', function() {
+        var rs = new RateService();
+        rs.isAvailable = sinon.stub().returns(true);
+        var today = Date.now();
+        var yesterday = today - 24 * 3600;
+        var getHistoricalRateStub = sinon.stub(rs, '_getHistoricRate');
+        getHistoricalRateStub.withArgs('USD', today).yields(null, 300.00);
+        getHistoricalRateStub.withArgs('USD', yesterday).yields(null, 250.00);
+        getHistoricalRateStub.withArgs('EUR', today).yields(null, 250.00);
+        getHistoricalRateStub.withArgs('EUR', yesterday).yields(null, 200.00);
+        var params = [{
+          satoshis: 0,
+          code: 'USD',
+          date: today,
+          expected: '0.00'
+        }, {
+          satoshis: 1e8,
+          code: 'USD',
+          date: today,
+          expected: '300.00'
+        }, {
+          satoshis: 10000,
+          code: 'USD',
+          date: today,
+          expected: '0.03'
+        }, {
+          satoshis: 0,
+          code: 'USD',
+          date: today,
+          expected: '0.00'
+        }, {
+          satoshis: 1e8,
+          code: 'USD',
+          date: today,
+          expected: '300.00'
+        }, {
+          satoshis: 10000,
+          code: 'USD',
+          date: today,
+          expected: '0.03'
+        }, {
+          satoshis: 20000,
+          code: 'EUR',
+          date: today,
+          expected: '0.05'
+        }, {
+          satoshis: 20000,
+          code: 'EUR',
+          date: yesterday,
+          expected: '0.04'
+        }, ];
+
+        _.each(params, function(p) {
+          rs.toFiatHistoric(p.satoshis, p.code, p.date, function(err, rate) {
+            rate.toFixed(2).should.equal(p.expected);
+          });
+        });
+      });
     });
-    it('should return current valuation', function() {
-      var rs = new RateService();
-      rs.isAvailable = sinon.stub().returns(true);
-      var getRateStub = sinon.stub(rs, '_getRate')
-      getRateStub.withArgs('USD').returns(300.00);
-      getRateStub.withArgs('EUR').returns(250.00);
-      var params = [{
-        amount: 0,
-        code: 'USD',
-        expected: 0
-      }, {
-        amount: 300.00,
-        code: 'USD',
-        expected: 1e8
-      }, {
-        amount: 600.00,
-        code: 'USD',
-        expected: 2e8
-      }, {
-        amount: 250.00,
-        code: 'EUR',
-        expected: 1e8
-      }, ];
 
-      _.each(params, function(p) {
-        rs.fromFiat(p.amount, p.code).should.equal(p.expected);
+    describe('#fromFiat', function() {
+      it('should throw error when unavailable', function() {
+        var rs = new RateService();
+        rs.isAvailable = sinon.stub().returns(false);
+        (function() {
+          rs.fromFiat(300, 'USD');
+        }).should.throw;
+      });
+      it('should return current valuation', function() {
+        var rs = new RateService();
+        rs.isAvailable = sinon.stub().returns(true);
+        var getRateStub = sinon.stub(rs, '_getRate')
+        getRateStub.withArgs('USD').returns(300.00);
+        getRateStub.withArgs('EUR').returns(250.00);
+        var params = [{
+          amount: 0,
+          code: 'USD',
+          expected: 0
+        }, {
+          amount: 300.00,
+          code: 'USD',
+          expected: 1e8
+        }, {
+          amount: 600.00,
+          code: 'USD',
+          expected: 2e8
+        }, {
+          amount: 250.00,
+          code: 'EUR',
+          expected: 1e8
+        }, ];
+
+        _.each(params, function(p) {
+          rs.fromFiat(p.amount, p.code).should.equal(p.expected);
+        });
+      });
+    });
+    describe('#listAlternatives', function() {
+      it('should throw error when unavailable', function() {
+        var rs = new RateService();
+        rs.isAvailable = sinon.stub().returns(false);
+        (function() {
+          rs.listAlternatives();
+        }).should.throw;
+      });
+
+      it('should return list of available currencies', function() {
+        var rs = new RateService();
+        rs.isAvailable = sinon.stub().returns(true);
+        sinon.stub(rs, '_getAlternatives').returns([{
+          name: 'United States Dollar',
+          isoCode: 'USD',
+          rate: 300.00,
+        }, {
+          name: 'European Union Euro',
+          isoCode: 'EUR',
+          rate: 250.00,
+        }, ])
+
+        var list = rs.listAlternatives();
+        list.should.exist;
+        list.length.should.equal(2);
       });
     });
   });
-  describe('#listAlternatives', function() {
-    it('should throw error when unavailable', function() {
-      var rs = new RateService();
-      rs.isAvailable = sinon.stub().returns(false);
-      (function() {
-        rs.listAlternatives();
-      }).should.throw;
-    });
-
-    it('should return list of available currencies', function() {
-      var rs = new RateService();
-      rs.isAvailable = sinon.stub().returns(true);
-      sinon.stub(rs, '_getAlternatives').returns([{
-        name: 'United States Dollar',
-        isoCode: 'USD',
-        rate: 300.00,
-      }, {
-        name: 'European Union Euro',
-        isoCode: 'EUR',
-        rate: 250.00,
-      }, ])
-
-      var list = rs.listAlternatives();
-      list.should.exist;
-      list.length.should.equal(2);
-    });
-  });
 });