ExternalCancellationReason1Code
UPAY Reason Code: Undue Payment
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UPAY means undue payment in the ISO 20022 cancellation reason code set. The payment is not justified: it was not due, was sent to the wrong party, or was paid in error.
- Code
- UPAY
- ISO name
- UnduePayment
- Status
- Registered
- Last updated
- 2017-02-08
Official definition
Payment is not justified.
What it means in practice
In a camt.056 cancellation request (or camt.055 from a customer), a cancellation reason code explains why the sender asks for a payment to be stopped or its funds returned. It sits in Undrlyg/TxInf/CxlRsnInf/Rsn/Cd.
The payment is not justified: it was not due, was sent to the wrong party, or was paid in error.
What to do
- Request the return of the funds and record the reason; the receiving bank usually needs the beneficiary's consent once funds are credited.
Messages and fields that use ExternalCancellationReason1Code
| Message | Element path |
|---|---|
| camt.056 | Undrlyg/TxInf/CxlRsnInf/Rsn/Cd, Undrlyg/OrgnlGrpInfAndCxl/CxlRsnInf/Rsn/Cd |
| camt.008 | CxlRsn/Rsn/Cd |
| camt.037 | Dtl/CxlRsn/Cd |
| camt.055 | Undrlyg/OrgnlGrpInfAndCxl/CxlRsnInf/Rsn/Cd, Undrlyg/OrgnlPmtInfAndCxl/CxlRsnInf/Rsn/Cd, Undrlyg/OrgnlPmtInfAndCxl/TxInf/CxlRsnInf/Rsn/Cd |
| camt.110 | InvstgtnData/AddtlReqData/ReqdDbtAuthstn/CxlRsn/Cd |
| camt.116 | versions 001.01 |
UPAY in other code sets
UPAY questions
- What does UPAY mean in ISO 20022?
- UPAY is Undue Payment in the ExternalCancellationReason1Code code set: Payment is not justified.
- What should I do when I get UPAY?
- Request the return of the funds and record the reason; the receiving bank usually needs the beneficiary's consent once funds are credited.
- Where does UPAY appear in a message?
- For example in camt.056, element Undrlyg/TxInf/CxlRsnInf/Rsn/Cd.
All ExternalCancellationReason1Code codes · ISO 20022 code sets
The ISO 20022 code names and definitions on this page are reproduced from material published at iso20022.org under the ISO 20022 Intellectual Property Rights policy. This is not the official source: the up-to-date ISO 20022 standards and repository material are published only at iso20022.org. Explanations in our own words are by ZagTrader. ZagTrader is not affiliated with or endorsed by ISO or Swift.