An Authorization Letter For Bank To Transfer Money is a crucial document in Indian banking operations that provides formal permission for fund transfers between accounts. This document is essential when an account holder needs to authorize their bank to transfer money to another account, whether as a one-time transaction or recurring payment. It's commonly used in various scenarios such as business payments, personal transfers, or standing instructions for regular payments. The letter must comply with Reserve Bank of India (RBI) guidelines, Know Your Customer (KYC) norms, and relevant banking regulations. It serves as a legal record of the account holder's consent and protects both the bank and the account holder by clearly documenting the transfer details, beneficiary information, and specific conditions of the authorization. This document is particularly important in India's banking system where formal documentation is required for significant financial transactions to ensure compliance with banking and anti-money laundering regulations.

1. Bank's Name and Address: Complete details of the bank branch where the account is held

2. Date and Reference: Current date and any reference number for tracking purposes

3. Subject Line: Clear indication that this is an authorization for money transfer

4. Account Holder Details: Full name, address, and account number of the person giving authorization

5. Beneficiary Details: Complete details of the recipient including their name, bank account number, and bank details

6. Transfer Details: Specific amount to be transferred or maximum limit, frequency if applicable

7. Purpose of Transfer: Clear statement of the reason for the transfer (required for banking compliance)

8. Authorization Statement: Explicit authorization language authorizing the bank to execute the transfer

9. Signature and Date: Space for account holder's signature and date of signing