How To Fix PM003 - Compare swift-code act. house bank &1 with partner bank &2

SAP Error Message - Details

• Message type: E = Error

• Message class: PM - Extended Payment Functions

• Message number: 003

• Message text: Compare swift-code act. house bank &1 with partner bank &2

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message PM003 - Compare swift-code act. house bank &1 with partner bank &2 ?

  The SAP error message PM003 indicates a mismatch between the SWIFT code of the house bank and the partner bank in a payment transaction. This error typically arises in the context of payment processing, particularly when dealing with international transactions where SWIFT codes are used to identify banks.
  Cause:
  The error occurs when the SWIFT code associated with the house bank (the bank account from which payments are made) does not match the SWIFT code of the partner bank (the bank account to which payments are being sent). This can happen due to:
  
  Incorrect Configuration: The SWIFT code for either the house bank or the partner bank may have been entered incorrectly in the system.
  Data Entry Errors: Manual entry errors when setting up bank details for either the house bank or the partner bank.
  Changes in Bank Details: If the partner bank has changed its SWIFT code and the new code has not been updated in the SAP system.
  Inconsistent Data: The data in the payment proposal or payment run may not be consistent with the bank master data.
  
  Solution:
  To resolve the PM003 error, you can follow these steps:
  
  
  Verify SWIFT Codes:
  
  Check the SWIFT code for the house bank in the SAP system. You can do this by navigating to the bank master data.
  Check the SWIFT code for the partner bank in the relevant transaction or vendor/customer master data.
  
  
  
  Update Incorrect Codes:
  
  If you find that the SWIFT code for either bank is incorrect, update it with the correct code.
  Ensure that the SWIFT code for the partner bank is consistent with the one used in the payment transaction.
  
  
  
  Check Payment Proposal:
  
  Review the payment proposal or payment run to ensure that the correct bank details are being used.
  If necessary, regenerate the payment proposal after making corrections.
  
  
  
  Consult Documentation:
  
  Refer to your organization's documentation or SAP help resources for specific instructions on managing bank master data.
  
  
  
  Test the Payment:
  
  After making the necessary corrections, attempt to process the payment again to see if the error persists.
  
  
  
  Related Information:
  
  Transaction Codes: You may use transaction codes like FI01 (Create Bank) or FI02 (Change Bank) to manage bank master data.
  Bank Master Data: Ensure that the bank master data is maintained correctly for both house and partner banks.
  Payment Configuration: Review the payment configuration settings in SAP to ensure that they align with your organization's banking requirements.
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  
  By following these steps, you should be able to resolve the PM003 error and ensure that your payment transactions can be processed successfully.