An LEI transfer is the process of transferring your company’s Legal Entity Identifier (LEI) from one service provider to another. The transfer usually happens when a company changes its LEI service provider for a better value one or if the provider goes out of business.
Remember that the LEI code is given to a company once and will not change when you move between service providers.
Nothing other than the Local Operating Unit (LOU) name changes on the Global LEI Database.
The process of transferring an LEI is reasonably straightforward. With LEI Kart, you can transfer your LEI free of cost.
Why is LEI transfer needed?
LEI transfer is rarely necessary, although many companies decide to transfer their LEI upon finding a better value service provider.
Here are a few reasons to transfer your LEI to LEI Kart:
1) We offer seven days a week customer support
2) Toll-free number – we pay 100% of the toll fee from 9:30 am to 6:30 pm
3) We’ll gift you a free LEI certificate when transferring, and transferring to LEI Kart is entirely free
How to transfer an LEI?
With LEI Kart transferring and LEI is quick and straightforward.
You can follow the below steps to transfer:
- Type www.leikart.com on the search box and click the LEI renewal (or click here)
- Click “transfer an LEI” and insert your company name or your existing LEI code.
- Choose between “Only transfer my LEI” or “Transfer and renew my LEI” according to your needs.
- Fill in your details and finish the application.
- We will send you a Letter of Authorization (LoA) in your provided email for confirmation which you must sign and send us back via email.
- Our LOU will let your previous LOU know about the transfer. Your last LOU will send you an objection letter to confirm that you want to change your service provider, and you will have to revert the mail stating that you agree to transfer.
- If there is no objection, your original LOU will release the code after three days.
- When done, we will transfer your LEI over to us!
- The legal entity themselves must initiate an LEI transfer
- The entire transfer process usually takes seven days
- Transferring your LEI to LEI Kart is free
- LEI Kart has three renewal plans, i.e., one year, three years, and five years