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Currency Decimals

Currency Decimals

     

Overview

When declaring amounts in ISO 20022 payment files, the maximum number of digits after a decimal separator depends on the currency in question.

Currency Codes and maximum number of digits are defined in ISO 4217

The vast majority of currencies limit maximum digits in decimal to 2. Examples of these currencies inlcude: USD, EUR, CAD, GBP, NOK

 

Behaviour in validation

When a payment file contains too many digits after a decimal separator, following type of an error is given:

"Too many decimal digits given. Maximum of 2 may be present for the given currency.”

Valid examples:

<InstdAmt Ccy="EUR">10.21</InstdAmt>

<InstdAmt Ccy="EUR">10.2</InstdAmt>
<InstdAmt Ccy="EUR">10</InstdAmt>

      Invalid examples (Returns error)

      <InstdAmt Ccy="EUR">10.403</InstdAmt>



      Further reading

      ISO 4217: https://www.iso.org/iso-4217-currency-codes.html

      Wikipedia: en.wikipedia.org/wiki/ISO_4217