How To Fix FVD_INSURANCE073 - Insurance policy &1; valid bank details ID required for payment method &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FVD_INSURANCE - Messages for Insurance (Package FVVD_INSURANCE)

• Message number: 073

• Message text: Insurance policy &1; valid bank details ID required for payment method &2

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 FVD_INSURANCE073 - Insurance policy &1; valid bank details ID required for payment method &2 ?

  The SAP error message FVD_INSURANCE073 indicates that there is an issue with the bank details associated with an insurance policy. Specifically, it states that a valid bank details ID is required for the specified payment method. This error typically arises in the context of processing payments for insurance policies in the SAP system.
  Cause:
  
  Missing Bank Details: The insurance policy does not have valid bank details associated with it for the specified payment method.
  Incorrect Payment Method: The payment method specified may not be compatible with the bank details available for the policy.
  Data Inconsistency: There may be inconsistencies or missing data in the master data records related to the insurance policy or the customer.
  
  Solution:
  
  
  Check Bank Details:
  
  Navigate to the insurance policy in question and verify that valid bank details are entered.
  Ensure that the bank details are correctly linked to the customer or policyholder.
  
  
  
  Update Payment Method:
  
  Review the payment method specified for the policy. If it is incorrect or not supported, update it to a valid payment method that has associated bank details.
  
  
  
  Maintain Master Data:
  
  Ensure that the customer master data is complete and accurate, including the bank details section.
  If necessary, update the customer master data with valid bank information.
  
  
  
  Consult Configuration:
  
  If you have access to the configuration settings, check the settings for payment methods and bank details to ensure they are correctly configured.
  
  
  
  Test Payment Processing:
  
  After making the necessary updates, attempt to process the payment again to see if the error persists.
  
  
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes such as FSP0 (to maintain customer master data) or FVD1 (to maintain insurance policies) to access and update the relevant information.
  Documentation: Refer to SAP documentation or help files for more detailed instructions on managing bank details and payment methods in the context of insurance policies.
  Support: If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  By following these steps, you should be able to resolve the error message FVD_INSURANCE073 and ensure that the insurance policy has the necessary bank details for processing payments.