Document background
An Authorization Letter To Transfer Account is a crucial document in Singapore's banking system, used when an account holder needs to authorize the transfer of their account or funds between financial institutions. The document is essential for compliance with Singapore's Banking Act, MAS regulations, and PDPA requirements. It typically includes detailed account information, transfer instructions, identity verification, and explicit authorization from the account holder. This document is particularly important for account consolidation, bank switches, or when closing accounts, ensuring proper documentation and legal compliance in Singapore's highly regulated financial sector.
