How To Fix PM034 - There is no Swift code for bank key &1 in country &2

SAP Error Message - Details

• Message type: E = Error

• Message class: PM - Extended Payment Functions

• Message number: 034

• Message text: There is no Swift code for bank key &1 in country &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.

Unfortunately, there isn't any extra information in this error notice.

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Smart SAP Assistant

• What is the cause and solution for SAP error message PM034 - There is no Swift code for bank key &1 in country &2 ?

  The SAP error message PM034 indicates that there is no SWIFT code associated with a specific bank key in a given country. This error typically arises in the context of financial transactions, particularly when dealing with international payments or bank transfers.
  Cause:
  
  Missing SWIFT Code: The primary cause of this error is that the SWIFT code for the specified bank key and country combination is not maintained in the SAP system.
  Incorrect Bank Key or Country: The bank key or country code entered may be incorrect, leading to the system being unable to find the corresponding SWIFT code.
  Configuration Issues: There may be issues with the configuration of the bank master data in the SAP system.
  
  Solution:
  
  
  Check Bank Master Data:
  
  Navigate to the bank master data in SAP (Transaction Code: FI01 for creating, FI02 for changing, or FI03 for displaying bank master data).
  Verify that the bank key and country are correctly entered.
  Ensure that the SWIFT code is maintained for the specific bank key and country combination.
  
  
  
  Maintain SWIFT Code:
  
  If the SWIFT code is missing, you will need to add it. This can typically be done in the bank master data maintenance screen.
  Enter the correct SWIFT code for the bank key and country.
  
  
  
  Verify Country and Bank Key:
  
  Double-check the country code and bank key being used in the transaction to ensure they are correct.
  If necessary, consult with your finance department or the bank to confirm the correct details.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help resources for additional guidance on maintaining bank master data and SWIFT codes.
  
  
  
  Contact Support:
  
  If the issue persists after verifying the above steps, consider reaching out to your SAP support team or consulting with SAP support for further assistance.
  
  
  
  Related Information:
  
  SWIFT Codes: These are standard format codes used to identify banks and financial institutions globally. They are essential for international wire transfers.
  Bank Master Data: This is a critical component in SAP Financial Accounting (FI) that contains all relevant information about banks used in transactions.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FI01, FI02, and FI03 for managing bank data.
  
  By following these steps, you should be able to resolve the PM034 error and ensure that your bank transactions can proceed without issues.