Last reviewed: · Curated by Ohmyfin Organisation editorial.
AG02 (InvalidBankOperationCode) is an ISO 20022 ExternalReturnReason code used in pacs.002 / MT103 STP rejection messages on the SWIFT network. The transaction-type code is invalid for this corridor.
Details
Why it happens: Wrong purpose code, wrong service-level code (e.g. INST instead of NORM), or a code not supported by the receiving bank.
How to fix it: Re-send with a standard SWIFT credit-transfer code; consult your bank if the corridor needs a specific purpose code.
When a bank rejects a SWIFT payment with AG02, you usually receive the code along with an MT103-STP, MT n96, or pacs.002 message. Your bank may relay the code to you with a plain-English explanation. If they don't, paste your UETR into the Ohmyfin tracker — the rejection status will show in the SWIFT GPI feed.
AG02 is part of the global ExternalReturnReason1Code code set maintained by ISO 20022. The same code is used by SWIFT, SEPA, FedNow, TARGET2 and most modern payment rails worldwide.
Key facts
Code: AG02
Full name: InvalidBankOperationCode
Standard: ISO 20022 ExternalReturnReason1Code
Carried in: pacs.002, MT103 STP rejection, MT n96
Visible on Ohmyfin: yes — paste your UETR to see the full rejection trail
Frequently asked questions
What does SWIFT reject code AG02 mean?
The transaction-type code is invalid for this corridor.
How do I fix a AG02 rejection?
Re-send with a standard SWIFT credit-transfer code; consult your bank if the corridor needs a specific purpose code.
Will I get my money back after a AG02 rejection?
Yes. SWIFT rejections automatically return the funds to the originator's account, usually within 1–5 business days. Some banks credit immediately; others wait for the actual return wire.
Can I re-send the same payment after AG02?
Yes — once you fix the underlying issue, you can re-send with a new UETR. Do NOT re-send with the same UETR; that triggers AM05 (Duplication).
Related — more from swift reject reason codes and beyond
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