SAP Message 1Q408 - Error in recipient bank &3 in bank country &2 or in bank area &1

Diagnosis
An error has occurred while posting a payment order (or paymentrequest), or while creating a new route determination setting inCustomizing. For cross-bank area posting, neither an external bank noran In-House Cash Center has been entered as the recipient bank.

System Response
The system does not allow you to create the Customizing entry, orrejects the posting.

Procedure
Check the Customizing settings for the FSCM-IH component. Bank area &V1&with bank key &V3& in bank country &V2& has probably not yet beendefined as an In-House Cash Center. It is also possible that the wrongrecipient bank has been entered.