How To Fix 1B034 - Bank key derived from IBAN not found, enter BIC

SAP Error Message - Details

• Message type: E = Error

• Message class: 1B - BKK: General Texts

• Message number: 034

• Message text: Bank key derived from IBAN not found, enter BIC

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message 1B034 - Bank key derived from IBAN not found, enter BIC ?

  The SAP error message 1B034 indicates that the system could not find a bank key derived from the provided IBAN (International Bank Account Number). This typically occurs when the IBAN is not correctly mapped to a bank key in the SAP system, which is necessary for processing payments or transactions.
  Cause:
  
  Missing Bank Key: The bank key corresponding to the IBAN is not maintained in the system.
  Incorrect IBAN Format: The IBAN entered may be incorrectly formatted or invalid.
  Bank Master Data: The bank master data may not be properly set up or may be incomplete.
  Country-Specific Settings: The country settings for the bank key might not be configured correctly in the SAP system.
  
  Solution:
  
  Check IBAN Format: Ensure that the IBAN is entered correctly and follows the proper format for the respective country.
  Maintain Bank Key:
  
  Go to the transaction code FI01 (Create Bank) or FI02 (Change Bank) in SAP.
  Check if the bank key corresponding to the IBAN exists. If not, create a new bank key and ensure it is linked to the correct IBAN.
  
  
  Update Bank Master Data:
  
  Ensure that the bank master data is complete and accurate. This includes the bank key, BIC (Bank Identifier Code), and other relevant details.
  
  
  Check Country-Specific Settings:
  
  Verify that the country-specific settings for bank keys are correctly configured in the system. This can be done through the transaction code OBBN (Define Bank Key).
  
  
  Use BIC: If the system prompts for a BIC, you may need to enter the BIC manually if the IBAN cannot be resolved to a bank key.
  
  Related Information:
  
  IBAN: A standardized international numbering system for bank accounts, which helps in identifying bank accounts across countries.
  BIC: A Bank Identifier Code, also known as SWIFT code, which is used to identify banks and financial institutions globally.
  Bank Master Data: This includes all relevant information about banks that are used in financial transactions, such as bank keys, BICs, and addresses.
  
  Additional Steps:
  
  If the issue persists after checking the above points, consider consulting with your SAP support team or checking SAP Notes for any known issues or patches related to this error message.
  Ensure that your SAP system is up to date with the latest support packages and notes, as this can sometimes resolve underlying issues related to bank data processing.