For financial calculations I recommend using Dinero.js
IDK about banks; in one billing system where I was involved we used decimals (and clear rules of assignment of the rounding errors), in another, all amounts were in picodollars.
Maybe when sending money to Zimbabwe it could be an issue.
[1] https://developer.mozilla.org/en-US/docs/Web/JavaScript/Refe...
See the https://dinerojs.com/ package to see how money is handled (tldr it's a combination of currency and amount which helps us get to the root #)
How easy is this process? Are all banks required to provide such a service? How about countries outside the USA
[1] You can send prepared payment orders to Wise, but still need to log in and manually approve them.
As far as I know, this is an international phenomenon. Keep in mind this is corporate banking, not consumer banking.
I'd happy answer any other questions you have @ https://cal.com/woodside/iso20022js
I'd be more worried about banks in the USA than outside. You won't get "No, we only take endorsed and double-signed paper checks!" from a European bank...
I published iso20022js.com a few weeks ago, and I was incredibly surprised by the overwhelming traction it received. I wanted to share more about some payments fundamentals that engineers might need in order to run this package - specifically, how sending these types of bank payments actually works.
And from the linked article:
> iso20022.js is the most popular open-source library that you can use to create ISO20022 messages programatically
How's that possible?
ISO20022 has a huge namespace and can do all kinds of things. My current focus on making transaction banking namespaces more accessible (think pain.001 002 and 008) aswell as CAMT files
I accidently also stumbled across the different einvoicing types that exist. What a space to explore :)
How the actual settlement happens (e.g. RTGS/Target 2) is a bit more involved, and you won't find that in these rulebooks.
[1] https://www.europeanpaymentscouncil.eu/what-we-do/epc-paymen...
BTW, when I tried the interactive demo [1] I noticed that it appended "undefined" to the end of the generated XML. Happens both in Firefox and Chrome, so it doesn't seem to be a browser quirk.
