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SEPA AM02

Amount exceeds agreed limit

Category: Amount & Funds R-type: Historical code; not a current SCT Inst inter-PSP reject

SCT

N/A

SCT Inst

N/A

SDD Core

N/A

SDD B2B

N/A

Retryable

Only after PSP clarification

Generated by

Depends on the legacy or provider-specific message; identify its scheme and message layer before interpretation.

ISO 20022 definition

Specific transaction/message amount is greater than allowed maximum.

Typical cause

An older or provider-specific amount-limit response. The 2025 SCT Inst implementation guidelines removed AM02 from negative confirmations, and current EPC inter-PSP guidance does not list it.

What to do about it

Ask the PSP which message layer and limit produced the code. Do not treat AM02 as current SCT Inst inter-PSP pacs.002 or equate it with AM23, which concerns PSP settlement guarantees.

Rulebook note

Historical lookup retained for existing links; no current scheme applicability is asserted. The 2025 SCT Inst implementation guidelines removed AM02 from their negative-confirmation lists.

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

AM23

Amount exceeds settlement limit

AM04

Insufficient funds

AM05

Duplicate payment / collection