A rejected SWIFT payment lands with a GPI status of RJCT and a reason code. The code is critical — it tells you exactly which bank rejected it, why, and what you need to fix to resend successfully. Here is the complete guide to every rejection reason you are likely to encounter.
Rejection reason codes on SWIFT GPI are ISO 20022 codes returned in the status update message (pacs.002 or MT195 response). The sending bank will usually translate the code into plain language on your online portal, but many do not, leaving you with a cryptic two-to-four-character string.
AC01 — Incorrect account number: The IBAN or account number provided is structurally invalid (fails the MOD-97 checksum). Fix: verify the exact IBAN with the beneficiary. Do not just re-enter from memory.
AC04 — Closed account: The account exists but has been closed. The beneficiary must provide a current active account. The bank cannot credit a closed account, and the funds will be returned.
AM04 — Insufficient funds: The sending account did not have enough balance to cover the transfer amount plus fees. Uncommon for initiated wires (banks usually pre-check) but can occur with time-lag between fund checks.
FF01 — Invalid file format or format error: The MT103 or pacs.008 message had a structural error — invalid characters, a field too long, or a mandatory element missing. Banks fix this internally, but if you get this back it usually means your ERP sent a malformed file.
RR01 — Missing debtor account or identification: The sender's account information in field 50 (ordering customer) was missing or insufficient for regulatory compliance screening.
RR02 — Missing debtor name or address: The sender's name or postal address was absent. Under FATF wire transfer rules, the sender's full legal name and address are mandatory. Add them and resend.
RR03 — Missing creditor name or address: The beneficiary's full legal name or postal address was not provided. Required by FATF and OFAC regulations. Obtain the full beneficiary address from them and resend.
RR04 — Regulatory reason: The payment was blocked by a regulatory constraint — most commonly OFAC sanctions, EU restrictive measures, or a domestic prohibition. If you believe this is in error, provide additional KYC to your bank and ask them to appeal to the correspondent.
RR07 — Remittance information truncated: The purpose or invoice reference in field 70 was cut to fit field limits and the receiving bank's compliance system could not process the truncated text. Send a corrected version with abbreviated but complete remittance information.
CUST — Customer decision: The beneficiary bank's customer (the recipient) refused to accept the funds. Rare — usually means account ownership dispute.
DUPL — Duplicate payment: The payment was identified as a duplicate of one already processed. If it is a genuine duplicate, good — the bank caught it. If it is not a duplicate, provide proof to the bank that this is a new, distinct payment.
MS03 — Not specified reason: A catch-all the bank uses when the real reason is confidential (e.g. internal fraud alert, sanctions investigation). Contact your bank — they have the detail but may not be able to share it openly.
Once the rejection is confirmed in GPI, the funds are typically returned within 2–5 business days. International correspondent chains can extend this to 7–10 days.
Your originating bank's sending fee is usually non-refundable. However, if the rejection was due to a bank error (e.g. their system truncated your remittance information), you can request a refund. Correspondent fees deducted before rejection may also be non-refundable depending on the bank.
Yes — correct the identified issue and send a new wire. The rejected UETR cannot be reused; the resend gets a fresh UETR. Track the new one on Ohmyfin to ensure it clears.
RR04 and MS03 rejections often involve confidential compliance holds (sanctions matches, internal fraud alerts). Banks are sometimes legally prohibited from disclosing the full reason. Ask for an in-person meeting with the compliance officer — they can often resolve it with more identity information.