Writing a Bank Transfer Request Letter (with Sample)
Use this sample bank transfer request letter as a template for your formal request letter.
Last updated on November 24, 2023
There are several personal reasons for writing a bank transfer request letter. The customer may want to shift funds from one account to another in the same bank, from one branch of the same bank to another, or he or she may want to transfer funds to an account in another bank. Businesses also need to transfer funds to different bank accounts, sometimes around the world.
Bank transfers are a very secure way of sending money because both the sender and the recipient’s identities are required. However, there are scams that request bank transfers.
Consumers should not send money to anyone who sends an unsolicited email. Even if a check is sent to be deposited, it may be fake, and when the bank ascertains it is fake, the consumer will be responsible for the whole amount.
Transferring Money to Different Bank
Before writing the letter, the customer needs to gather some information. If they are transferring money within the United States to a different bank even if the account is in the customer’s name they need to know the recipient bank’s name and address, the bank’s routing number, the number of the account that will receive the money and the name on that account.
Bank transfers are a very secure way of sending money because both the sender and the recipient’s identities are required. However, there are scams that request bank transfers.
Consumers should not send money to anyone who sends an unsolicited email. Even if a check is sent to be deposited, it may be fake, and when the bank ascertains it is fake, the consumer will be responsible for the whole amount.
Transferring Money to Different Bank
Before writing the letter, the customer needs to gather some information. If they are transferring money within the United States to a different bank even if the account is in the customer’s name they need to know the recipient bank’s name and address, the bank’s routing number, the number of the account that will receive the money and the name on that account.
Once money is transferred, it cannot be retrieved. Also, if the money is sent to the wrong bank account, it cannot be reversed. For an international bank account transfer, the customer wants to transfer money to another country. This is more complicated.
The customer needs the name and address of the bank where they money is going, the name of the account holder and the International Bank Account Number (IBAN) or Society for Worldwide Interbank Financial Telecommunications (SWIFT) code of the bank. For bank transfers in Europe the IBAN number is most often used and the rest of the world uses the SWIFT system.
Instruction Letter
An international bank account transfer requires an instruction letter. The letter must contain the customer’s name, address, account number, the amount to be transferred and the recipient’s information mentioned above. However, before writing a letter, the customer should find out if the bank requires bank account transfer forms.
The forms may take the place of a letter. The customer fills in the information required on the form and signs it. There will be a fee for an international transfer, and it may take from one business day to a week for the transfer to be completed.
If the customer is transferring money between banks, there needs to be a reciprocal account in the recipient bank. If there is no reciprocal account, then a third party or correspondent bank where both bank have an account is required.
The customer needs the name and address of the bank where they money is going, the name of the account holder and the International Bank Account Number (IBAN) or Society for Worldwide Interbank Financial Telecommunications (SWIFT) code of the bank. For bank transfers in Europe the IBAN number is most often used and the rest of the world uses the SWIFT system.
Instruction Letter
An international bank account transfer requires an instruction letter. The letter must contain the customer’s name, address, account number, the amount to be transferred and the recipient’s information mentioned above. However, before writing a letter, the customer should find out if the bank requires bank account transfer forms.
The forms may take the place of a letter. The customer fills in the information required on the form and signs it. There will be a fee for an international transfer, and it may take from one business day to a week for the transfer to be completed.
If the customer is transferring money between banks, there needs to be a reciprocal account in the recipient bank. If there is no reciprocal account, then a third party or correspondent bank where both bank have an account is required.
Intra-Bank Transfer
A transfer within the same bank from a savings account to a checking account or from a parent’s account to their child’s account can be done easily and quickly. In some cases, it can be done online. If the names on the accounts are different, a bank transfer request letter may be required. There is usually no fee for an intra-bank transfer, and it can be done in one day.
With the conveniences of online banking, bank transfers have become simplified and checks or cash are not required. In many cases, purchases can be bought, and bills can be paid automatically. Bank transfers are cleared by the bank as soon as they are received. If the transfer is between two different banks, the fees can be expensive because both banks will charge fees.
A transfer within the same bank from a savings account to a checking account or from a parent’s account to their child’s account can be done easily and quickly. In some cases, it can be done online. If the names on the accounts are different, a bank transfer request letter may be required. There is usually no fee for an intra-bank transfer, and it can be done in one day.
With the conveniences of online banking, bank transfers have become simplified and checks or cash are not required. In many cases, purchases can be bought, and bills can be paid automatically. Bank transfers are cleared by the bank as soon as they are received. If the transfer is between two different banks, the fees can be expensive because both banks will charge fees.
Sample Bank Transfer Request Letter
Below is a sample bank transfer request letter. It should be written in business-letter format and sent by certified mail, so the sender has proof of the time and date the letter was received. The letter can be short with only a few sentences stating the facts.
There is no need to add unnecessary information or state the facts twice. It is recommended that the letter be addressed to the bank manager or the bank officer in charge of transfers.
Sample Bank Transfer Request Letter
Customer’s Name
Customer’s Address
City, State, Zip Code
Account Number
DATE
Bank Manager’s Name
Bank’s Name
Manager’s title
Bank’s Address
City, State, Zip Code
Dear Name of Manager,
This letter is a formal request for you to transfer $1,000 from my savings account to my checking account. I understand there is no fee for this transfer.
Another possibility:
This letter is a formal request for you to transfer $1,000 from my savings account to the account of NAME in your branch in CITY. The number of the account to receive the money is NUMBER and the name of the account holder is NAME. Any fee for this transfer can be deducted from my savings account.
Enclosed with this letter is the forms I downloaded and printed from the Name of Bank website for the transfer of funds. I appreciate your timely attention to this transfer. If you have any questions, I can be reached at 555-123-4567 or at [email protected].
Sincerely, Signature of Customer
Name of Customer printed
Enclosed: Signed bank forms
By Andre Bradley
Frequently Asked Questions (FAQs)
Q: What is a request letter to transfer money to another account?
Answer: A request letter to transfer money to another account is a formal written document that individuals or organizations use to ask a bank or financial institution to transfer funds from their account to another specified account. It serves as a written authorization for the transfer and provides details such as the recipient's account information, the amount to be transferred, and any additional instructions or purposes for the transfer.
Q: How should the tone of a request letter to transfer money to another account be?
Answer: The tone of a request letter to transfer money to another account should be polite, professional, and concise. It's essential to maintain a respectful tone throughout the letter, as you are requesting a service from the bank or financial institution.
Use formal language and avoid any unnecessary details or information that may confuse the recipient. It's also a good idea to thank the recipient in advance for their assistance and to express your appreciation for their prompt attention to the matter.
Q: Can you provide a sample request letter to transfer money to another account?
Answer: Certainly! Here's a sample request letter to transfer money to another account:
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Your Email Address]
[Your Phone Number]
[Date]
[Bank Name]
[Bank Address]
[City, State, ZIP Code]
Dear Sir/Madam,
Subject: Request to Transfer Funds to Another Account
I am writing to kindly request the transfer of funds from my account to another account. The details for the transfer are as follows:
Sender's Information:
Name: [Your Name]
Account Number: [Your Account Number]
Recipient's Information:
Name: [Recipient's Name]
Account Number: [Recipient's Account Number]
Bank Name: [Recipient's Bank Name]
Bank Address: [Recipient's Bank Address]
Amount and Currency:
Amount: [Enter the amount to be transferred]
Currency: [Enter the currency of the transfer]
Purpose of Transfer:
The purpose of this transfer is [Briefly explain the purpose or reason for the transfer, e.g., payment for purchase, personal transaction, etc.]
Additional Instructions:
[If there are any specific instructions for the transfer, mention them here, such as the desired transfer date or any reference information.]
I kindly request your prompt attention to this matter. Please let me know if any further documentation or verification is required. I would like to thank you in advance for your assistance and appreciate your support.
Should you have any questions or require additional information, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address].
Thank you for your attention to this matter.
Yours sincerely,
[Your Full Name]
[Your Signature]
Q: Is there a specific format or structure for a request letter to transfer money to another account?
Answer: While there is no strict format or structure for a request letter to transfer money to another account, it is generally recommended to follow a formal business letter format. This includes including your contact information and the recipient's information at the beginning, followed by a clear and concise body that includes the necessary details for the transfer.
Remember to include a polite closing and your signature at the end of the letter. It's also helpful to keep the letter to one page if possible and to use a professional font and formatting style.
Q: How should I deliver the request letter to transfer money to another account?
Answer: The delivery method for your request letter will depend on the requirements of your bank or financial institution. In most cases, you can either submit the letter in person at your branch or send it via postal mail. Some banks also accept scanned copies of signed letters sent through email or provide online forms for such requests. It's best to check with your bank beforehand to ensure you follow their preferred method of receiving such letters.
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