How To Fix /SRMSMC/BANK_DATA005 - SWIFT code &1 does not exist or is invalid

SAP Error Message - Details

• Message type: E = Error

• Message class: /SRMSMC/BANK_DATA -

• Message number: 005

• Message text: SWIFT code &1 does not exist or is invalid

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 /SRMSMC/BANK_DATA005 - SWIFT code &1 does not exist or is invalid ?

  The SAP error message /SRMSMC/BANK_DATA005 SWIFT code &1 does not exist or is invalid typically occurs in the context of financial transactions or when dealing with bank data in the SAP system. This error indicates that the SWIFT code provided is either not found in the system or is not valid according to the expected format or criteria.
  Causes:
  
  Invalid SWIFT Code: The SWIFT code entered may not conform to the standard format (8 or 11 characters) or may contain invalid characters.
  Missing SWIFT Code: The SWIFT code may not be maintained in the relevant master data tables in SAP.
  Configuration Issues: There may be issues with the configuration of the bank data in the SAP system.
  Data Entry Errors: Typographical errors during data entry can lead to this error.
  Outdated Data: The SWIFT code may have changed or been deprecated, and the system has not been updated accordingly.
  
  Solutions:
  
  Verify SWIFT Code: Check the SWIFT code for accuracy. Ensure it is correctly formatted and valid.
  Maintain SWIFT Code: If the SWIFT code is missing, you may need to add it to the relevant master data. This can typically be done in the transaction code for maintaining bank master data (e.g., FI01 for creating a bank master record).
  Check Configuration: Review the configuration settings related to bank data in your SAP system. Ensure that the necessary settings for SWIFT codes are correctly configured.
  Consult Documentation: Refer to SAP documentation or help resources for guidance on maintaining bank data and SWIFT codes.
  Contact Support: If the issue persists, consider reaching out to your SAP support team or consulting with SAP experts for further assistance.
  
  Related Information:
  
  
  SWIFT Code Format: A SWIFT code (also known as a BIC) typically consists of 8 or 11 characters, where:
  
  The first 4 characters represent the bank code.
  The next 2 characters represent the country code.
  The next 2 characters represent the location code.
  The last 3 characters (optional) represent the branch code.
  
  
  
  SAP Transactions: Familiarize yourself with relevant SAP transactions for managing bank data, such as:
  
  FI01 - Create Bank Master Record
  FI02 - Change Bank Master Record
  FI03 - Display Bank Master Record
  
  
  
  Master Data Maintenance: Ensure that your organization has a process in place for regularly updating and maintaining bank master data, including SWIFT codes, to avoid such errors in the future.
  
  
  By following these steps, you should be able to resolve the error and ensure that the SWIFT code is correctly recognized in your SAP system.