A funds transfer request letter is a document a bank account holder writes to their bank to authorize or request for the transfer of money from their account to another one. This is a cashless form of payment and it is mainly used in cases where the account holder is transferring huge sums of money. The letter is required when transferring money from one account to another either physically or electronically.
The fund may be transferred in accounts in the same branch, same bank or in a different bank.
What to include in a funds transfer request letter
- Your address: this is the address of the account holder who wants to transfer funds to another account.
- Banks address: this refers to the address of your bank
- Date: this is the date of writing the letter
- Salutation: This is a simple greeting that includes the name of the bank manager.
- Your name and bank account: When you want to transfer money from your bank account to another you must provide details about your name and the specific account with the funds.
- Amount: This is the amount of money you want to transfer from your account.
- Recipient’s details: This refers to relevant information about the person receiving the money including their name, bank account number, name of the bank, and branch.
- Your contact details: It’s also essential to include your phone number and email in the funds transfer letter, the bank may want to confirm the transaction.
- Your signature: also indicate your handwritten signature on the letter as a sign that you’ve approved the transaction.
- Enclosure: After writing the letter you should fill funds transfer forms from the bank and attach to the letter.
Funds transfer request letter format
Your phone number
Your email address
Name of the bank manager
Dear Mr. /Ms. (name of the bank manager),
I write this letter to ask for a formal transfer of ($amount) form my current/savings account number (indicate the account number) under the name (account name) to (name of the recipient, bank name, branch, and account number).
Also, find enclosed the filled funds transfer request forms. Please contact me via (phone number) or (email) for details.
I’m thanking you for your assistance and cooperation.
(Your printed name)
Encl: Signed funds transfer forms
Sample funds transfer request letter
350 Gray Street
Minnesota, MN 80122
February 13, 2025
403 Finance Lane
Minnesota, MN 81032
Sub: Funds transfer
This letter is a request to transfer $4000 from my current account under the name Aggrey Thomas, number 001 4556 7865 to account name Belinda White Provident banks Minnesota branch Account number 001 4532 9090.
Also, find the enclosed filled and signed funds transfer forms that I downloaded from your bank’s website.
If in need of further details, please contact me via, (214) 453 6767 or email firstname.lastname@example.org.
( _ )
Enclosed: Signed funds transfer forms
Funds transfer request letter samples and templates
- MS Word
From one account to another
- MS Word
To bank manager
- MS Word
Transfer of money to another person
- MS Word
Sample letter of direction to transfer funds
- MS Word
What is an internal bank transfer?
An internal bank transfer means that the funds were transferred within the same financial institution. For instance, if you move $20.00 from your checking account to your money market, that is an internal bank transfer. These transfers usually do not have a fee attached, as the financial institution is utilizing their own network. Whether you’re transferring the money to another of your own bank accounts, or the account of someone you know, as long as it’s within the framework of the same financial institution, it’s an internal transfer of funds
How do I transfer money to someone else’s bank account?
There are several ways to transfer funds into another person’s account. First, you can visit the recipient’s financial institution in person and deposit a check in their name. You can also send a check for deposit via mail or transfer the money online via services such as PayPal. Finally, you also have the option to make a wire transfer using a company such as MoneyGram or Western Union.
How long should a bank transfer take?
In order to avoid fraud, your bank transfer can take from 2 to 5 business days, depending on your financial institution, while an international bank transfer can take up to 7 days.