Document background
The Money Transfer Confirmation Letter is a crucial document in Singapore's financial ecosystem, used to provide written verification of completed monetary transactions. It serves multiple purposes including regulatory compliance, audit trail maintenance, and transaction documentation. The document is particularly important given Singapore's strict financial regulations and its position as a major financial hub. This letter includes essential details such as transaction particulars, parties involved, and relevant banking information, all structured to comply with Singapore's Payment Services Act 2019 and MAS guidelines. It's commonly used in both domestic and international transfers, particularly when formal documentation is required for accounting, legal, or regulatory purposes.
