Document background
A Wire Transfer Letter is a critical banking document used to facilitate and authorize the electronic transfer of funds between accounts. This document is particularly important in the Swiss banking context, where strict regulatory compliance and detailed documentation are required. The letter must comply with Swiss banking laws, including the Federal Act on Banks and Savings Banks, anti-money laundering regulations, and the Swiss Code of Obligations. It is typically used when an account holder needs to initiate a domestic or international wire transfer, requiring complete details of the sending and receiving parties, clear transfer instructions, and proper authorization. The document serves multiple purposes: it provides clear instructions to the bank, creates an audit trail for compliance purposes, and serves as evidence of the authorized transaction.
