Magnetiq Bank API Access & Open Banking (Latvia)

Reach your Magnetiq Bank accounts through a single, privacy-first open-banking layer. open-banking.io links to the Riga-based bank (formerly LPB Bank, BIC LAPBLV2X) under PSD2, covering both business and personal accounts, then keeps them in sync so balances and transactions are always at hand — without certificates, screen-scraping or handing anyone your credentials.

What sets this apart is the zero-knowledge design. Your encryption keys are generated on your own device, and every figure that reaches you is decrypted locally. open-banking.io's servers only ever hold your public key, so they can store your ciphertext but never read a single euro of it.

How to connect Magnetiq Bank

Connecting happens entirely inside the open-banking.io dashboard — there is no API call, code or key involved in this step.

  1. Sign up for open-banking.io and set your encryption passphrase; the matching private key is created on your device and never leaves it.
  2. In the dashboard, choose Magnetiq Bank and select the account type you want (business or personal).
  3. You are redirected to Magnetiq Bank's own secure login, where you approve access on the bank's PSD2 consent screen. Consent lasts up to 180 days before a simple re-approval.
  4. Your accounts flow back into the dashboard and begin syncing automatically.

Access your data

Once a connection exists, developers can optionally read it programmatically. Open the Developers page, create an API key and export a credentials.json — this bundles the API key together with your private decryption key. From there use the CLI (openbanking accounts, openbanking transactions, openbanking sync), an SDK, or the REST API directly. Requests authenticate with the X-Api-Key header, and every response is decrypted on your machine with your own key. The key alone returns only ciphertext — readable data needs your private key, which the service never has.

All of this runs for roughly EUR 3/month, with no per-bank fees or eIDAS certificate paperwork.

Do I need an API key to connect Magnetiq Bank?

No. Connecting is done in the dashboard by approving access on Magnetiq Bank's login. API keys are only for reading data afterwards.

Can open-banking.io see my Magnetiq Bank balances?

No. It is zero-knowledge: it stores your encrypted data and public key only. Decryption happens locally with a key just you hold.

Which account types are supported?

Both business and personal Magnetiq Bank accounts, with consent valid for up to 180 days per approval.

Start at https://open-banking.io.