What is Bank Key?
A bank key is a key that uniquely identifies your bank in a specific country. It is the detailed address information about the bank account with the account number.
In other words, the identification of the bank branch is the bank key, each bank key represents a particular bank branch. The bank key is country-specific for each country there is a different bank key.
How to Create Bank Key in SAP?
Please follow the step below to create a bank key:
Enter the t-code FIO1 in the b and Press Enter
SAP Menu → Accounting → Financial Accounting → Banks → Master Data → Bank Master Record → FI01 - Create.
Next in the ‘Create Bank: Initial Screen’ window enter the following details:
- Bank Country
- Bank Key (Not longer than 11 characters)
Now in the Create Bank: Detail Screen window, under the Address section, enter the following:
- Bank's name.
- Bank region.
- Bank's street address.
- Bank's city.
- Branch branch
Under the Control data section enter the following:
- SWIFT/BIC code of the Bank
- Tick the Post. Bank Acct checkbox if the Bank is from Germany or Switzerland
Click the Save icon or press Cntrl+S.
A new Bank Key is created.
How to Delete Bank Key?
Please follow the step below to delete the bank key:
Enter the t-code FIO6 in the SAP Command Field and press Enter
SAP Menu → Accounting → Financial Accounting → Banks → Master Data → Bank Master Record → FI06 - Mark for deletion.
Next in the Set Bank Deletion Flag: Initial Screen window enter Bank Country & Bank Key which you want to set for delete.
Now in the next screen just tick the Deletion Indicatorbox
And then click the Save icon or press Cntrl+Save. The bank key will be Set for Deletion.