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LV29LAPB0000156054529

Bank Name: AS MAGNETIQ BANK

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IBAN
LV29LAPB0000156054529Copy
Country CodeLV
Check Digits29
Bank CodeLAPB
Branch Code000015
Account number156054529
Bank Name
AS MAGNETIQ BANK
Branch Code
XXX
Bank Address
BRIVIBAS IELA 54
City
RIGA
Province/State
RIGA
Postal Code/Zip
LV-1011
CountryLATVIA
SWIFT CodeLAPBLV2XXXX

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FAQ

Which bank does the IBAN LV29LAPB0000156054529 correspond to?

The IBAN LV29LAPB0000156054529 belongs to the bank AS MAGNETIQ BANK, and the bank identity can be further confirmed via the SWIFT/BIC code LAPBLV2XXXX, ensuring accurate fund transfer during international remittances.

What should you pay attention to when making a transfer using the IBAN LV29LAPB0000156054529?

When using IBAN LV29LAPB0000156054529 for a transfer, it is recommended to also provide the recipient's SWIFT/BIC code LAPBLV2XXXX, bank name AS MAGNETIQ BANK, and the complete bank address. Ensuring that all details are correct can effectively avoid the risk of transfer failure, delays, or funds being sent to the wrong account. It is best to use an IBAN validation tool to check the number's validity before making the transfer, reducing unnecessary issues.

How is the check digit in the IBAN LV29LAPB0000156054529 derived? What is its purpose?

The check digits are the second and third positions in LV29LAPB0000156054529, and they are used to prevent human input errors. By converting the IBAN into numbers and performing a modulo 97 operation, if the result is 1, the IBAN is valid. This ensures that when making international transfers (such as sending money to AS MAGNETIQ BANK), the funds are not mistakenly sent to the wrong institution.

Can one IBAN be shared by multiple accounts?

An IBAN number uniquely corresponds to a specific account and cannot be shared by different accounts. Each IBAN encodes unique account information, and if two accounts use the same IBAN, the banking system will be unable to correctly identify the specific receiving account. Therefore, when opening accounts at different banks or branches, even if they belong to the same account holder, different IBANs will be generated.

If I enter the wrong IBAN LV29LAPB0000156054529, will the transfer still succeed?

If you make a mistake while entering the IBAN LV29LAPB0000156054529, such as leaving out parts or entering incorrect characters, the bank system typically performs an initial verification based on the check digits. If an error is detected, the transaction will be rejected and the funds returned. However, if the check digits pass and only the account information is incorrect, the funds may be sent to the wrong account. In such a case, you should contact the sending bank AS MAGNETIQ BANK as soon as possible and provide the correct IBAN along with the corresponding SWIFT/BIC code LAPBLV2XXXX, in an attempt to intercept or recover the funds.
Disclaimer: The data provided on this page is sourced from the Internet and bank official websites and is for reference only. We do not guarantee the accuracy, completeness or timeliness of the data. Users should verify the relevant information and bear the risks of use.