A Letter of Intent for Bank Account is a preliminary document used when establishing a banking relationship in the Philippines. It is typically required before the formal account opening process can begin and serves as an initial communication between the prospective account holder and the bank. The document is essential for both individual and corporate accounts, though requirements may vary depending on the account type and purpose. It must adhere to Philippine banking regulations, including BSP Circular No. 1022 on Know Your Customer (KYC) guidelines and the Anti-Money Laundering Act. The letter should contain clear declarations about the intended purpose of the account, source of funds, and other regulatory requirements specific to the Philippine jurisdiction. This document is particularly important for corporate accounts, foreign investors, or special-purpose accounts where additional due diligence is required.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Letter Header: Official letterhead, date, and bank's complete address
2. Salutation: Formal greeting to the bank's officer or department
3. Introduction: Introduction of the applicant and clear statement of intent to open a bank account
4. Account Details: Specification of the type of account desired (savings, checking, time deposit, etc.)
5. Purpose Declaration: Clear statement of the intended purpose of the account, as required by BSP regulations
6. Source of Funds: Declaration of the source of funds to comply with AMLA requirements
7. Contact Information: Complete contact details of the account applicant
8. Closing: Formal closing, signature block, and contact information for follow-up
1. Corporate Authority: Required for corporate accounts - states the authority of the signatory to act on behalf of the company
2. Special Instructions: Any special requirements for the account such as initial deposit amount, digital banking access, or specific services needed
3. Multiple Currency Declaration: Required when requesting multi-currency account features
4. Beneficial Ownership Declaration: Required for accounts where the applicant is acting on behalf of another person or entity
5. Tax Status Declaration: Required for foreign account holders or special tax status individuals/entities
1. Personal Identification: Copies of required government IDs and proof of identity
2. Proof of Address: Recent utility bills or other acceptable proof of address documents
3. Income Documentation: Pay slips, tax returns, or other proof of income as required
4. Business Documents: For corporate accounts: SEC registration, business permits, and corporate authorization documents
5. Foreign Account Documentation: Additional documents required for non-resident account holders if applicable
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Corporate Services
Financial Technology
Retail Banking
Commercial Banking
Investment Banking
International Trade
E-commerce
Professional Services
Real Estate
Manufacturing
Trading and Distribution
Relevant Teams
Finance
Treasury
Legal
Compliance
Operations
Administration
Corporate Secretariat
Risk Management
International Business
Executive Management
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Corporate Secretary
Compliance Officer
Finance Manager
Account Manager
Business Development Manager
Corporate Treasurer
Financial Controller
Banking Relationship Manager
Operations Manager
Administrative Officer
Legal Counsel
Company Director
Find the exact document you need
Letter Of Intent For Updating Points In Ranking
A formal Philippine jurisdiction document requesting the review and update of an individual's ranking points within an organizational system, including justification and supporting documentation.
find out more
Letter Of Intent For House (Construction)
A preliminary agreement under Philippine law between property owner and contractor outlining basic terms and intentions for a house construction project.
find out more
Letter Of Intent For Grant Proposal
A formal letter under Philippine law expressing intent to apply for grant funding, outlining project proposals and funding requirements.
find out more
Letter Of Intent For Enrollment
A formal letter expressing intent to enroll in a Philippine educational institution, compliant with local education laws and regulations.
find out more
Letter Of Intent For Retaining Points In Ranking
A formal letter used in the Philippine civil service system to request the retention of accumulated ranking points for government positions and promotions.
find out more
Letter Of Intent For Promotion Bpo
A formal document used in the Philippines BPO sector to communicate the intent to promote an employee, outlining new role details and terms under Philippine labor law.
find out more
Resume Letter Of Intent
A formal expression of interest in employment that complies with Philippine labor laws and business practices, combining professional intent with key qualifications.
find out more
Letter Of Intent To Renew Lease Contract
A formal letter under Philippine law expressing a tenant's intention to renew an existing lease agreement, outlining proposed terms and conditions for the renewal.
find out more
Commercial Lease Proposal Letter
A formal proposal document used in the Philippines to outline initial terms and conditions for commercial property leasing, serving as a preliminary offer between landlord and potential tenant.
find out more
Letter Of Intent For Volunteer Teacher
A formal letter under Philippine law expressing intent to serve as a volunteer teacher, outlining qualifications and teaching commitments.
find out more
Letter Of Intent For Accreditation As Supplier
A formal letter used in the Philippines to express interest in becoming an accredited supplier, including company credentials and compliance commitments.
find out more
LOI Business
A preliminary business document under Philippine law outlining proposed transaction terms and conditions, serving as a framework for future negotiations.
find out more
Letter Of Intent Requesting For Accreditation
A formal letter used in the Philippines to initiate an accreditation request with relevant authorities, including key company information and compliance commitments.
find out more
Letter Of Intent For A Position
A formal letter expressing interest in a specific job position, drafted in compliance with Philippine labor laws and employment regulations.
find out more
Loi (Real Estate)
A preliminary document outlining key terms for proposed real estate transactions in the Philippines, serving as a framework for future property transfer or lease agreements.
find out more
Loi In (Construction)
A preliminary agreement document under Philippine law that outlines key terms and conditions for construction projects, serving as a precursor to a formal construction contract.
find out more
LOI For Purchase
A preliminary document under Philippine law expressing intent to purchase assets, property, or business, outlining key terms and conditions for the proposed transaction.
find out more
Letter Of Intent For Organization Membership
A formal letter under Philippine law expressing intent to join an organization, including qualifications and acknowledgment of membership terms.
find out more
Letter Of Intent For Monetization
A preliminary document under Philippine law outlining proposed terms for converting assets or revenue streams into immediate funding.
find out more
Letter Of Intent For Fresh Graduate
A formal expression of interest document used by fresh graduates in the Philippines to apply for employment opportunities, following Philippine labor laws and business correspondence standards.
find out more
Letter Of Intent For Advertising
A preliminary document under Philippine law outlining proposed terms for an advertising arrangement, serving as a framework for future formal agreements.
find out more
Letter Of Intent (Education)
A preliminary document under Philippine law outlining proposed terms for educational collaboration or partnership, serving as a precursor to formal agreements.
find out more
Letter Of Intent For Financial Assistance
A preliminary, non-binding document under Philippine law that outlines proposed terms for providing financial assistance between parties.
find out more
Letter Of Intent For Service Providers
A preliminary document used in the Philippines to outline proposed terms and conditions for service arrangements, serving as a framework for negotiating a formal service agreement.
find out more
Letter Of Intent To Leave
A formal resignation letter compliant with Philippine Labor Code requirements, serving as official notice of an employee's intent to leave their position.
find out more
Letter Of Intent To Join
A preliminary document used in the Philippines expressing a candidate's formal intention to join an organization, serving as a precursor to an employment contract.
find out more
Letter Of Intent For Scholarship To Mayor
A formal letter used in the Philippines to request scholarship assistance from a city or municipal mayor, serving as an initial application for local government educational funding.
find out more
Letter Of Intent For Updating Documents
A Philippine-compliant formal letter expressing intent to update specified documents, outlining the scope and process of proposed changes.
find out more
Letter Of Intent For Teachers Ranking
A formal letter used in the Philippine education system for teachers to express their intent to participate in the official ranking and promotion process, governed by DepEd regulations.
find out more
Letter Of Intent Running For A Position
A formal declaration document under Philippine electoral law expressing intent to run for public office, submitted to electoral authorities as part of the candidacy process.
find out more
Letter Of Intent For Staying In A Job
A formal declaration under Philippine law where an employee expresses their commitment to continue employment with their current organization for a specified period.
find out more
Letter Of Intent For Continuing Teaching
A formal letter under Philippine law expressing a teacher's intent to continue their teaching position, outlining their role and commitment to the educational institution.
find out more
Letter Of Intent (Finance)
A preliminary document under Philippine law outlining key terms and conditions of a proposed financial transaction, serving as a framework for negotiations and due diligence.
find out more
Letter Of Intent Commercial (Real Estate)
A preliminary document under Philippine law outlining proposed terms for commercial real estate purchase or lease, serving as a formal expression of interest while establishing negotiation framework.
find out more
Business Letter Of Intent
A preliminary business document under Philippine law that outlines intended business arrangements or transactions between parties, setting the stage for formal agreements.
find out more
Letter Of Intent For Teacher 1 Elementary
A formal document used in the Philippines to initiate the hiring process for Teacher 1 Elementary positions, outlining employment terms and requirements under Philippine education law.
find out more
Letter Of Intent For Car Loan
A formal preliminary document used in the Philippines expressing intent to obtain vehicle financing from a financial institution, subject to local banking regulations.
find out more
Letter Of Intent To Offer Services
A preliminary document under Philippine law expressing a service provider's intention to offer professional services, outlining basic terms and conditions for future formal agreement.
find out more
Letter Of Intent To Join An Organization
A formal letter under Philippine law expressing interest in joining an organization, serving as an initial step in the membership process.
find out more
Letter Of Intent For Project Proposal
A preliminary document under Philippine law outlining parties' intentions to explore a potential project, setting the framework for future negotiations while maintaining a generally non-binding nature.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)