What does RC08 mean in ISO 20022?

RC08 is Invalid Clearing System Member Identifier in the ExternalReturnReason1Code code set: ClearingSystemMemberidentifier is invalid or missing. Generic usage if cannot specify between debit or credit account.

What should I do when I get RC08?

Check the member identifier and the clearing system code in ClrSysMmbId against the clearing system directory.

Where does RC08 appear in a message?

For example in pacs.004, element TxInf/RtrRsnInf/Rsn/Cd.

ExternalReturnReason1Code

RC08 Reason Code: Invalid Clearing System Member Identifier

Written and maintained by ZagTrader. Last reviewed 21 October 2026. How this page is sourced and checked

RC08 means invalid clearing system member identifier in the ISO 20022 return reason code set. The clearing system member identifier (for example a national bank code or sort code) is missing or invalid.

Code: RC08
ISO name: InvalidClearingSystemMemberIdentifier
Status: Registered
Last updated: 2021-08-31

Official definition

ClearingSystemMemberidentifier is invalid or missing.
Generic usage if cannot specify between debit or credit account.

Definition from the ISO 20022 External Code Sets, 2Q2026 (published 28 Aug 2026).

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 clearing system member identifier (for example a national bank code or sort code) is missing or invalid.

What to do

Check the member identifier and the clearing system code in ClrSysMmbId against the clearing system directory.

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

RC08 in other code sets

RC08 in ExternalStatusReason1Code

RC08 questions

What does RC08 mean in ISO 20022?: RC08 is Invalid Clearing System Member Identifier in the ExternalReturnReason1Code code set: ClearingSystemMemberidentifier is invalid or missing. Generic usage if cannot specify between debit or credit account.
What should I do when I get RC08?: Check the member identifier and the clearing system code in ClrSysMmbId against the clearing system directory.
Where does RC08 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.