Question 1

What is the SWIFT code for Magnetiq Bank (formerly LPB)?

Accepted Answer

The SWIFT/BIC code for Magnetiq Bank (formerly LPB) is LAPBLV2X. This 8-character code identifies the bank in international wire transfers and is registered with SWIFT (Society for Worldwide Interbank Financial Telecommunication).

Question 2

How do I send an international wire transfer to Magnetiq Bank (formerly LPB)?

Accepted Answer

To send money internationally to Magnetiq Bank (formerly LPB), provide your bank with the SWIFT/BIC code LAPBLV2X (RIGA, Latvia) along with the recipient's full IBAN. Your bank will route the transfer via the SWIFT network.

Question 3

Is Magnetiq Bank (formerly LPB) a SEPA member?

Accepted Answer

Yes, Magnetiq Bank (formerly LPB) is a SEPA (Single Euro Payments Area) member. Euro transfers within the SEPA zone can be processed as fast, low-cost SEPA Credit Transfers using the recipient's IBAN, with no SWIFT fees required for intra-SEPA payments.

Question 4

What does the BIC code LAPBLV2X mean?

Accepted Answer

In the BIC code LAPBLV2X: "LAPB" is the institution code identifying Magnetiq Bank (formerly LPB), "LV" is the ISO 3166-1 country code for Latvia, and "2X" is the location code indicating the bank's city or timezone zone.

LAPBLV2X

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