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An Authorization Letter To Transfer Money To Another Account is a crucial document in Saudi Arabian banking operations, used when an account holder needs to formally authorize their bank to transfer funds to another account. This document is particularly important in Saudi Arabia, where banking transactions must comply with both SAMA regulations and Islamic banking principles. It's commonly used for various purposes including business payments, personal transfers, and recurring transactions. The letter must include specific details required by Saudi banking regulations such as the identities of both parties, account details, transfer amount, and purpose. It requires proper authentication and may need official stamps or notarization depending on the transfer amount and type. This document is essential for maintaining clear audit trails and ensuring compliance with Saudi Arabia's anti-money laundering regulations while providing legal protection for all parties involved in the transfer.

1. Date and Place: Current date and location where the letter is being executed

2. Authorizer Details: Full legal name, ID/Iqama number, contact details, and address of the person giving authorization

3. Recipient Bank Details: Name and branch of the bank where the letter will be presented

4. Account Details: Source account number, bank details, and account holder name

5. Beneficiary Details: Full name, account number, and bank details of the person receiving the money

6. Transfer Details: Specific amount to be transferred (in numbers and words), currency, and purpose of transfer

7. Authorization Statement: Clear statement of authorization including the scope and duration of the authorization

8. Authentication: Space for signature, attestation, and official stamps as required by Saudi law