��������Ƶ

The Wire Transfer Letter is a critical banking instrument used in the Philippine financial system to facilitate domestic and international fund transfers. This document becomes necessary when an account holder needs to transfer funds electronically to another bank account, whether within the Philippines or internationally. The letter must comply with Philippine banking regulations, including the General Banking Law of 2000, Anti-Money Laundering Act, and BSP Circular No. 980 on fund transfers. It typically includes comprehensive details about the sender, beneficiary, transfer amount, purpose, and necessary authorizations. Wire Transfer Letters are particularly important for business transactions, international trade, and large-value transfers where formal documentation and regulatory compliance are essential. The document serves multiple purposes: it provides clear instructions to the sending bank, creates an audit trail for compliance purposes, and serves as evidence of the authorized transaction.

1. Letter Header: Bank's name and address, date, reference number

2. Sender Information: Complete details of the sending party including full name, account number, contact information, and address

3. Transfer Instructions: Specific amount to be transferred, currency, and purpose of transfer

4. Beneficiary Details: Complete information about the recipient including full name, bank account number, bank name and address

5. Authorization Statement: Explicit authorization for the bank to execute the transfer and debit the sender's account

6. Transaction Details: Specific details about fees, exchange rates (if applicable), and timing of the transfer

7. Signature and Verification: Authorized signature(s) and any required verification codes or passwords