LEI Checker – Search Your LEI Online
What if a single type of code could save the global banking industry $2.4 billion?
LEI codes have this power, and every legal entity must have one before engaging in any kind of financial trade. A business can’t afford not to know what they are or how to ensure that they’re valid and up-to-date.
An LEI checker is the easiest way to make sure your LEI code is valid. Anyone can use them to find all the information provided by their own LEI code or to get information about another entity.
Read our guide to find out how to use an LEI checker to use the information the codes contain to your benefit.
What Is an LEI Checker?
LEI codes provide a wealth of information about a business. Safe financial transactions require an LEI because they provide accurate, up-to-date information on all businesses that engage in trades. There needs to be a way to easily access them and check their validity to see and use the information they provide.
This is where an LEI checker comes in. This online tool can help you look up the LEI code of a specific business. It’s an easy way to check the information contained within and the validity of LEI codes.
How to Use an LEI Checker?
Using an LEI checker is a simple process. Once you find one, you only need a small amount of information at the ready to begin.
To use an LEI checker, you must first know the name or LEI code of the entity you want to search for. This is an easier task if you’re checking the LEI validity of your own business, but you may have to research if you’re looking into another entity.
Once you enter the LEI code or name into an LEI checker, you’ve completed your LEI search. You may need to filter by country to find the desired result since LEI checker results are international.
Once you find what you’re looking for, click it to access the information contained in its LEI.
What Information Will an LEI Checker Provide?
An LEI checker can provide you with valid, up-to-date information about the business or corporation you’ve searched for.
An LEI checker returns the 20-digit LEI code of the business or corporation you conducted a search for.
There’s a minimum amount of data that must be contained in LEI codes.
LEI codes help you know who the company they’re assigned to is. They must include the company’s official name and registered address.
LEI codes also help you know where the company is and who they own. They tell you the country where it was formed as well as related countries and their subdivisions.
There are also LEI validity measures built right into the code. They tell you when the code was issued and when it was last updated. If it’s been a while since a company changed its information, it may no longer be accurate.
Additional information may be provided by LEI codes as well if the issuing organization allows it.
An LEI search can provide a wealth of information about a legal entity. It can show you where their headquarters are located, outline their ownership structure, and more.
Who Needs to Use an LEI Checker?
Anyone can use an LEI checker because the information it provides is public. There are situations where they’re especially likely to be used.
Legal entities need an LEI checker to verify their own LEI validity. An invalid LEI could leave them unable to engage in financial trades.
Using an LEI checker is also a necessary first step before engaging in business with a new partner. You can use it to check their LEI validity and get all the information you need to know about them.
The information provided in LEI codes won’t always be accurate or up-to-date. If you suspect there’s an error in the information the LEI checker has shown you, issue an LEI data challenge to get it corrected. For example, you may need to do this if you know an entity has moved its headquarters but still has its old location listed in the LEI code.
These are only some of the many reasons to use an LEI checker. It helps ensure LEI validity, makes financial interactions between companies safer, and more.
Benefits of an LEI Checker
There are several benefits to the LEI checker that makes it necessary tool for any business or corporation.
An LEI checker is useful for finding out information about another entity or keeping your own information up-to-date. It’s the best way to check LEI validity, as the information in LEI codes can be cross-checked with any other information about the company.
The speed and affordability of an LEI checker can save a business time and money. They no longer have to hire a reporting team to find out information on a potential partner or to check their own LEI validity. Instead, they can pop the correct information into an LEI checker and get what they need almost instantly.
An LEI checker also makes the process of issuing an LEI data challenge much easier. It quickly brings all the relevant information to your fingertips.
Since the information is public, anyone can search for it. The wide searchability of LEI code information adds to the overall transparency of the business world. It ensures that all businesses provide each other with accurate information before engaging in financial transactions.
These are only some of the benefits of an LEI checker. Try one out for yourself and find out how it can benefit your business.
Where to Find an LEI Checker
An LEI code is a ISO standard that legal entities use to identify each other before engaging in financial trades. They’re easy to apply for and make useful information available to the world as a public good.
An LEI checker is the easiest way to see the information contained in an entity’s LEI code. All you need to know is the LEI code and/or name of the entity you want to search for. Type it into the LEI checker to perform an LEI search.
LEI Register offers its LEI checker tool to help everyone manage their LEI.