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ISO 20022 reason code

TM01: Invalid cut-off time

Received after the cut-off time. TM01 is an ISO 20022 reason code used as a status reason and a return reason: you will see it in pain.002, pacs.004 and camt.053.

TM01 at a glance
CodeTM01
NameInvalid cut-off time
ISO code listsExternalStatusReason1Code (status reason); ExternalReturnReason1Code (return reason)
WhereStsRsnInf/Rsn/Cd; RtrRsnInf/Rsn/Cd (pacs.004), TxDtls/RtrInf/Rsn/Cd (camt)

What TM01 means

The instruction arrived after the bank’s or the clearing system’s cut-off time for the requested date. Cut-offs differ by service: urgent and same-day payments usually close earlier in the day than standard credit transfers, and instant payments run around the clock.

Not to be confused with: TM01 is the time of day; DT01 is the date itself.

A reason code always comes with a status or an action: on its own it says why, not what happened. In a status report look at the status next to it (RJCT means the payment will not be executed); on a statement the returned entry tells you the money has come back.

Where TM01 appears

TM01 belongs to two of the ISO 20022 reason code lists, so it can arrive in these places:

  • Status reason (ExternalStatusReason1Code): in a payment status report (pain.002 from a bank to its customer, pacs.002 between banks) that rejects or holds a payment.
  • Return reason (ExternalReturnReason1Code): in a payment return (pacs.004) after the money has moved, and the returned entry on the account statement (camt.053) or notification (camt.054).

In a status report, TM01 explains a status such as RJCT, at transaction level here (the same StsRsnInf block can sit under the group or a payment block):

pain.002.001.10 · a rejected transaction
<OrgnlPmtInfAndSts>
  <OrgnlPmtInfId>PMT-20261028-03</OrgnlPmtInfId>
  <TxInfAndSts>
    <OrgnlEndToEndId>INV-2026-0042</OrgnlEndToEndId>
    <TxSts>RJCT</TxSts>
    <StsRsnInf>
      <Rsn>
        <Cd>TM01</Cd>
      </Rsn>
      <AddtlInf>Free text from the bank, if any</AddtlInf>
    </StsRsnInf>
  </TxInfAndSts>
</OrgnlPmtInfAndSts>

What to do about TM01

  • If you sent the payment or the collection: Send it again for the next business day, or earlier in the day. Your bank publishes its cut-off times per service.

Your bank’s implementation guide and the scheme’s rulebook (for SEPA, the EPC rulebooks) say exactly when it may use TM01; banks do not all apply a code the same way.

Look up TM01 from a script or an AI agent

Scripts and AI agents get this code’s name, definition, where it sits and the address of this page from GET /api/v1/explain, keyless, or from the explain_code tool of the MCP server (API and MCP docs; add it to Claude, Cursor or VS Code).

REST · curl
curl -s 'https://iso20022-navigator.com/api/v1/explain?code=TM01&kind=status_reason'