How To Fix /PM0/ABP_PRMPAYR_MSG043 - SWIFT code / BIC for bank details is required for &1 (&2)

SAP Error Message - Details

• Message type: E = Error

• Message class: /PM0/ABP_PRMPAYR_MSG -

• Message number: 043

• Message text: SWIFT code / BIC for bank details is required for &1 (&2)

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message /PM0/ABP_PRMPAYR_MSG043 - SWIFT code / BIC for bank details is required for &1 (&2) ?

  The SAP error message /PM0/ABP_PRMPAYR_MSG043 indicates that a SWIFT code (or BIC - Bank Identifier Code) is required for the bank details of a specific entity (represented by &1 and &2). This error typically arises in the context of payment processing, particularly when dealing with international transactions where a SWIFT code is necessary for identifying banks.
  Cause:
  
  Missing SWIFT/BIC Code: The primary cause of this error is that the bank details for the specified entity do not include a SWIFT code or BIC.
  Incorrect Configuration: The configuration settings in the SAP system may not be set up correctly to handle the required bank details.
  Data Entry Error: There may have been an oversight during data entry, leading to the omission of the SWIFT code.
  
  Solution:
  
  
  Check Bank Details:
  
  Navigate to the relevant master data (e.g., vendor or customer master data) in SAP.
  Ensure that the SWIFT code/BIC is correctly entered in the bank details section.
  
  
  
  Update Master Data:
  
  If the SWIFT code is missing, add it to the bank details for the relevant entity.
  Make sure to save the changes.
  
  
  
  Validation:
  
  After updating the bank details, try to process the payment again to see if the error persists.
  
  
  
  Consult Documentation:
  
  Review any relevant SAP documentation or guidelines regarding bank details and payment processing to ensure compliance with required fields.
  
  
  
  System Configuration:
  
  If the issue continues, check the configuration settings in the SAP system related to payment processing and bank details. This may require assistance from an SAP consultant or system administrator.
  
  
  
  Related Information:
  
  SWIFT Code/BIC: This is an international standard for identifying banks and financial institutions. It is essential for international wire transfers and other transactions.
  Payment Processing: Ensure that all necessary fields are filled out correctly in the payment processing transactions to avoid similar errors.
  SAP Modules: This error may be encountered in modules such as SAP Financial Accounting (FI) or SAP Treasury and Risk Management (TRM).
  
  If the problem persists after following these steps, it may be beneficial to consult with your SAP support team or refer to SAP Notes for any known issues related to this error message.