Document background
An Authorization Letter To Send Money is a crucial document in Singapore's financial ecosystem, required when an account holder needs to authorize a bank or financial institution to transfer funds on their behalf. This document, governed by Singapore's Payment Services Act 2019 and MAS regulations, provides legal protection for all parties involved in the transaction. It typically includes specific details about the transfer amount, recipient information, purpose of transfer, and necessary compliance declarations. The letter is particularly important for international transfers, large sum transfers, or when the account holder cannot be physically present for the transaction.
