AM03 Reason Code: Not Allowed Currency
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AM03 means not allowed currency in the ISO 20022 return reason code set. The currency cannot be processed under the agreement in place, for example a currency the receiving bank does not clear, or a currency the account cannot hold.
- Code
- AM03
- ISO name
- NotAllowedCurrency
- Status
- Registered
- Last updated
- 2009-04-01
Official definition
Specified message amount is an non processable currency outside of existing agreement
What it means in practice
In a pacs.004 payment return, a return reason code explains why funds that were already settled are being sent back. It sits in TxInf/RtrRsnInf/Rsn/Cd, and bank statements (camt.053, camt.054) repeat it in RtrInf/Rsn/Cd.
The currency cannot be processed under the agreement in place, for example a currency the receiving bank does not clear, or a currency the account cannot hold.
What to do
- Ask the beneficiary which currencies their account receives, or pay in the account currency and let the beneficiary bank convert.
Messages and fields that use ExternalReturnReason1Code
| Message | Element path |
|---|---|
| pacs.004 | TxInf/RtrRsnInf/Rsn/Cd, OrgnlGrpInf/RtrRsnInf/Rsn/Cd |
| camt.053 | Stmt/Ntry/NtryDtls/TxDtls/RtrInf/Rsn/Cd |
| camt.054 | Ntfctn/Ntry/NtryDtls/TxDtls/RtrInf/Rsn/Cd |
| camt.052 | Rpt/Ntry/NtryDtls/TxDtls/RtrInf/Rsn/Cd |
| trck.001 | TrckrStsAndTx/Tx/RjctRtrRsn/Rsn/Cd, TrckrStsAndTx/TxSts/RjctRtrRsn/Rsn/Cd |
| trck.002 | TrckrStsAndTx/Tx/RjctRtrRsn/Rsn/Cd, TrckrStsAndTx/TxSts/RjctRtrRsn/Rsn/Cd |
| trck.004 | TrckrStsAndTx/Tx/RjctRtrRsn/Rsn/Cd, TrckrStsAndTx/TxSts/RjctRtrRsn/Rsn/Cd |
AM03 in other code sets
AM03 questions
- What does AM03 mean in ISO 20022?
- AM03 is Not Allowed Currency in the ExternalReturnReason1Code code set: Specified message amount is an non processable currency outside of existing agreement
- What should I do when I get AM03?
- Ask the beneficiary which currencies their account receives, or pay in the account currency and let the beneficiary bank convert.
- Where does AM03 appear in a message?
- For example in pacs.004, element TxInf/RtrRsnInf/Rsn/Cd.
All ExternalReturnReason1Code 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.