Loan Amount Transfer Request Letter Template for Canada

The Loan Amount Transfer Request Letter is a crucial document in Canadian lending operations that formalizes the process of transferring approved loan funds from a financial institution to the borrower's designated account. This document is typically used after loan approval when the borrower needs to initiate the actual transfer of funds. It must include specific details such as the loan reference number, approved amount, recipient account information, and any special disbursement instructions. The letter needs to comply with Canadian banking regulations, including the Bank Act and provincial consumer protection laws, while also meeting anti-money laundering requirements. It serves as both an instruction document and an audit trail for the transfer of loan proceeds, making it essential for record-keeping and compliance purposes.

1. Sender's Information: Full name, address, contact details, and account information of the person/entity requesting the transfer

2. Date: Current date of the letter

3. Recipient's Information: Name and address of the bank/financial institution, including specific department if applicable

4. Subject Line: Clear indication that this is a loan amount transfer request with reference numbers

5. Loan Reference: Details of the approved loan including loan number and approval date

6. Transfer Details: Specific amount to be transferred and recipient account details

7. Purpose Statement: Brief explanation of the purpose of the loan/transfer for record-keeping and compliance

8. Transfer Instructions: Specific instructions for how the transfer should be executed

9. Authorization Statement: Formal statement authorizing the bank to process the transfer

10. Signature Block: Space for signature, printed name, and date