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Amount Transfer Request Letter

Amount Transfer Request Letter Template for Singapore

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Key Requirements PROMPT example:

Amount Transfer Request Letter

"I need an Amount Transfer Request Letter to authorize a transfer of SGD 250,000 from our Singapore subsidiary to our parent company in Japan, including all necessary compliance declarations for cross-border transfers and supporting documentation requirements."

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Document background
The Amount Transfer Request Letter is a crucial document in Singapore's banking system, used whenever a formal written request for funds transfer is required. It serves as both an authorization instrument and a compliance document, particularly important for significant transfers or those requiring special handling. The letter must conform to Singapore's strict banking regulations, including MAS Notice 626 on anti-money laundering measures. It typically includes complete details of the transfer request, purpose, parties involved, and any supporting documentation required by the receiving bank. This document is particularly important for audit trails and regulatory compliance in Singapore's highly regulated financial sector.
Suggested Sections

1. Sender Details: Full name, address, and contact information of the requesting party

2. Recipient Details: Bank name, branch, and complete address

3. Transfer Details: Amount, currency, and account numbers (source and destination)

4. Purpose Statement: Clear declaration of the reason for transfer

5. Authorization Statement: Explicit authorization for the bank to process the transfer

Optional Sections

1. Urgency Notice: Additional section for time-sensitive transfers requiring expedited processing

2. Supporting Documents Reference: Section listing attached supporting documents when additional documentation is required for compliance

3. Intermediary Bank Details: Information about any intermediary banks for international transfers requiring correspondent banks

Suggested Schedules

1. Identity Verification Documents: Copies of required identification documents

2. Transaction Supporting Documents: Invoices, contracts, or other documents justifying the transfer

3. Authorization Forms: Any additional bank-specific forms required for the transfer

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




















Clauses















Industries

Banking Act (Cap. 19): Primary legislation governing banking institutions and operations in Singapore, providing framework for banking transactions and transfers

Payment Services Act 2019: Regulates payment systems and payment service providers in Singapore, including money transfer services

Electronic Transactions Act (Cap. 88): Governs electronic transactions and digital signatures, ensuring legal recognition of electronic communications and records

MAS Notice 626: Monetary Authority of Singapore's requirements for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT)

Corruption, Drug Trafficking and Other Serious Crimes Act: Provides framework for preventing money laundering and requires reporting of suspicious transactions

Currency Act (Cap. 69): Regulates the use and transfer of currency in Singapore

MAS Notice 3001: Specific guidelines on Prevention of Money Laundering and Countering the Financing of Terrorism in non-bank settings

Personal Data Protection Act 2012: Governs the collection, use, and disclosure of personal data in Singapore, ensuring privacy protection in financial transactions

Singapore Contract Law: Common law principles governing formation and enforcement of contracts, including financial agreements and transfer requests

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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