Skip to content
SEPA AC03

Wrong IBAN (creditor)

Category: Account R-type: Return / RFRO

SCT

Applies

SCT Inst

Applies

SDD Core

N/A

SDD B2B

N/A

Retryable

Yes, after correction (Return); N/A for RFRO — recovery request, not a retry

Generated by

Beneficiary/creditor bank (Return) or the originator, via the originator bank (RFRO — customer identifies the error after sending).

ISO 20022 definition

Wrong IBAN in SCT (ReturnReason); also used as an RFRO reason code for a customer-identified incorrect creditor IBAN.

Typical cause

The creditor IBAN entered on the credit transfer does not match the intended beneficiary, or the customer realizes after sending that they used the wrong IBAN.

What to do about it

As a Return: correct the beneficiary IBAN and resubmit. As an RFRO reason: this is the code your originator bank sends when you request recovery of a payment sent to the wrong creditor IBAN — the beneficiary bank can legitimately decline if funds have already been applied.

Rulebook note

Not part of the SDD reason-code set — SDD uses AC01/AC04 for account-identification problems. AC03 is SCT/SCT-Inst-specific, and does double duty as both a Return reason and an RFRO recovery reason.

Confidence: high. Sourced from PaymentBrief's SEPA R-transaction reference article, cross-verified against ISO 20022 external code sets and EPC guidance documents. Reason-code applicability and timing windows vary by rulebook version and bank handling — verify against your bank or PSP before acting.

Full reference

SEPA Return and Reject Codes: The R-Transaction Reference

Related codes

AC01

Incorrect account number

AC04

Closed account number

AC06

Blocked account