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SEPA AM02

Amount exceeds agreed limit

Category: Amount & Funds R-type: Reject

SCT

N/A

SCT Inst

Applies

SDD Core

N/A

SDD B2B

N/A

Retryable

Yes, at a lower amount or via SCT

Generated by

Debtor PSP or the instructed agent, based on limits agreed between PSPs.

ISO 20022 definition

Specific transaction/message amount is greater than allowed maximum.

Typical cause

Transaction exceeds a limit set by the debtor PSP or agreed between PSPs. The 2025 SCT Inst rulebook removed the former EPC-level €100,000 scheme cap; PSPs now set their own limits, which under the EU Instant Payments Regulation cannot be lower than their SCT limits.

What to do about it

Confirm your PSP-configured SCT Inst transaction limit and either raise it (if commercially justified) or split/route large payments over standard SCT instead.

Rulebook note

SCT-Inst-specific — reflects PSP-set limits, not a fixed scheme cap.

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

AM04

Insufficient funds

AM05

Duplicate payment / collection

AM09

Wrong amount