Does a woman need to giving charity when she can not fast because of a menstrual period?

Is it true that when a woman has her monthly period that she must give money (charity) for each day of bleeding? For example, if she bleeds for 5 days then she should give money to those in need for 5 days or give the total amount of 5 days in the first day. Is this true? Some people say it only applied to Ramadan and not the full year. Is this true? What does islam say about this?