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The Company Reference Letter For Bank Account Opening is a critical document required by Canadian financial institutions as part of their due diligence process for corporate banking relationships. This document becomes necessary when a business entity needs to establish a new banking relationship or open additional accounts with a financial institution in Canada. The letter serves multiple purposes: it confirms the company's existence and good standing, provides details about the business operations and authorized signatories, and helps banks comply with regulatory requirements including the Bank Act, PIPEDA, and anti-money laundering legislation. The document typically accompanies other corporate documentation such as registration certificates, board resolutions, and signatory lists, forming a comprehensive package for bank account opening procedures.

1. Letterhead and Date: Company's official letterhead and current date

2. Bank Details: Name and address of the bank to which the letter is addressed

3. Subject Line: Clear indication that this is a reference letter for bank account opening

4. Company Introduction: Legal name, registration number, and duration of business operation

5. Business Details: Nature of business, industry sector, and main activities

6. Financial Standing: General statement about company's financial stability and banking history

7. Authorization: Statement confirming the authority of specific individuals to operate the account

8. Contact Information: Company's official contact details for verification purposes

9. Signature Block: Authorized signatory's name, title, and signature