An Authorization Letter To Transfer Money To Another Account is a crucial document used in Hong Kong's banking system when an account holder needs to formally authorize a money transfer to a different account. This document is essential for both personal and business transactions where formal authorization for fund transfers is required. It must comply with Hong Kong's Banking Ordinance and anti-money laundering regulations, containing specific details about the parties involved, transfer amounts, and purpose. The letter serves as official documentation for the bank to execute the transfer and provides legal protection for all parties involved. It's commonly used for both one-time and recurring transfers, requiring proper authentication and potentially witness signatures depending on the amount and nature of the transfer.

1. Date and Place: Current date and place of execution of the letter

2. Bank Details and Branch: Name and address of the bank where the letter is addressed

3. Authorizer Information: Full name, address, contact details, and account number of the person giving authorization

4. Recipient Information: Full name, address, and account details of the person receiving the transfer

5. Transfer Details: Specific amount to be transferred, currency, and timing of the transfer

6. Authorization Statement: Clear statement granting authority for the transfer

7. Purpose of Transfer: Statement explaining the reason for the transfer (required by many banks for compliance)

8. Authentication: Signature of the authorizer and any required witnesses