Last reviewed: · Curated by Ohmyfin Organisation editorial.
AM02 (NotAllowedAmount) is an ISO 20022 ExternalReturnReason code used in pacs.002 / MT103 STP rejection messages on the SWIFT network. The amount exceeds an allowed limit.
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If you received a payment document from a third party, verify directly with your own bank before releasing goods or funds. Fake MT103 / pacs.008 confirmations are widely used in advance-fee scams. See our fraud guide →
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Details
Why it happens: Daily limit, transaction limit, AML threshold, or a country-specific cap on incoming payments.
How to fix it: Split the payment, raise the limit with the originating bank, or use a different rail (e.g. CHIPS instead of SWIFT for very large USD payments).
When a bank rejects a SWIFT payment with AM02, 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.
AM02 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: AM02
Full name: NotAllowedAmount
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 AM02 mean?
The amount exceeds an allowed limit.
How do I fix a AM02 rejection?
Split the payment, raise the limit with the originating bank, or use a different rail (e.g. CHIPS instead of SWIFT for very large USD payments).
Will I get my money back after a AM02 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 AM02?
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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