All Countries
Real Estate
Letter Of Explanation For Cash Deposit

Letter Of Explanation For Cash Deposit Template for Philippines

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Letter Of Explanation For Cash Deposit

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Letter Of Explanation For Cash Deposit

"I need a Letter of Explanation for Cash Deposit to explain a PHP 2,000,000 deposit to ABC Bank Manila Branch on March 15, 2025, which represents proceeds from selling my family property in Cebu."

Celebrated by
Collaborations with
Investors
Document background
The Letter of Explanation for Cash Deposit is a critical document required by Philippine financial institutions when customers make substantial cash deposits that meet certain thresholds established by the Bangko Sentral ng Pilipinas (BSP). This requirement stems from the Anti-Money Laundering Act (AMLA) and related BSP circulars, which mandate proper documentation of large cash transactions. The letter must include specific details about the source of funds, purpose of the deposit, and supporting evidence to verify the transaction's legitimacy. It serves as a protective measure for both the bank and the depositor, helping to prevent money laundering while facilitating legitimate business transactions. Banks typically require this document for deposits exceeding certain amounts or when transaction patterns trigger compliance protocols.
Suggested Sections

1. Letter Header: Contains date, bank name, branch address, and proper salutation

2. Account Information: Details of the account holder including full name, account number, and contact information

3. Transaction Details: Specific information about the cash deposit including exact amount and date of deposit

4. Source of Funds: Clear explanation of where the money came from (e.g., business proceeds, sale of property, inheritance)

5. Purpose of Deposit: Explanation of why the deposit is being made and its intended use

6. Declaration of Legitimacy: Statement confirming the legitimate source of funds and compliance with laws

7. Closing: Professional closing statement, signature block, and contact information

Optional Sections

1. Business Background: Include when funds are from business operations, describing nature of business and operations

2. Transaction History: Add when there's relevant history of similar transactions that helps establish pattern

3. Third Party Information: Include when the funds originate from or involve a third party, providing their details and relationship

4. Additional Certifications: Include when deposit amount exceeds certain thresholds requiring extra declarations under BSP regulations

Suggested Schedules

1. Supporting Documents List: Itemized list of all attached supporting documents

2. Proof of Source: Copies of relevant documents proving source of funds (contracts, business permits, etc.)

3. Government IDs: Copies of valid government-issued identification documents

4. Transaction Records: Related business or transaction records that support the explanation

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Banking and Financial Services

Retail

Real Estate

Professional Services

Manufacturing

Import/Export

Construction

Agriculture

Healthcare

Technology

General Commerce

Relevant Teams

Legal

Compliance

Risk Management

Operations

Customer Service

Corporate Banking

Retail Banking

Anti-Money Laundering

Finance

Treasury

Internal Audit

Client Relations

Relevant Roles

Bank Branch Manager

Compliance Officer

Risk Management Officer

Anti-Money Laundering Specialist

Banking Operations Manager

Account Officer

Financial Controller

Chief Financial Officer

Business Owner

Company Director

Treasury Manager

Finance Manager

Corporate Secretary

Legal Counsel

Relationship Manager

Industries
Republic Act No. 9160 (Anti-Money Laundering Act of 2001): The primary legislation that requires documentation and explanation for large cash transactions to prevent money laundering. It sets the framework for reporting suspicious transactions and establishes threshold amounts requiring documentation.
BSP Circular No. 706: Updated anti-money laundering rules and regulations that specify customer identification requirements and threshold amounts for reporting cash transactions.
Republic Act No. 8791 (General Banking Law of 2000): Provides the general framework for banking operations in the Philippines, including requirements for documentation of transactions and customer due diligence.
BSP Circular No. 950: Guidelines on anti-money laundering and combating the financing of terrorism, which includes requirements for documentation of large cash transactions and customer due diligence.
Republic Act No. 10927: Amendment to the Anti-Money Laundering Act that expands its scope and strengthens reporting requirements for cash transactions.
BSP Manual of Regulations for Banks: Contains specific requirements for bank documentation, including guidelines for accepting and documenting cash deposits and related customer explanations.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Mortgage Closing Disclosure Form

A mandatory Philippine mortgage loan disclosure document detailing final loan terms and closing costs, compliant with BSP regulations and Truth in Lending Act requirements.

find out more

Hardship Letter For Mortgage Assistance

A formal appeal letter to Philippine lending institutions requesting mortgage payment modifications due to financial hardship, compliant with local banking regulations.

find out more

Quitclaim Deed Mortgage

A Philippine legal instrument that combines a property rights transfer through quitclaim with a mortgage agreement, governed by Philippine civil and property law.

find out more

Occupiers Deed Of Consent To Mortgage

A Philippine legal document where a property occupier formally consents to a mortgage being created over their occupied property, ensuring compliance with local property laws.

find out more

Gift Letter For Down Payment

A formal Philippine legal document declaring monetary funds as a gift for property down payment, complying with local banking and gift regulations.

find out more

Mortgage Preapproval Letter

A formal document issued by Philippine banks indicating a borrower's preliminary qualification for a specific mortgage amount and terms, subject to final approval.

find out more

Mortgage Authorization Letter

A formal authorization document used in the Philippines that grants a financial institution permission to process and establish a mortgage on a specified property, compliant with Philippine banking regulations.

find out more

Offer Letter For Mortgage

A formal mortgage loan offer document compliant with Philippine banking regulations, outlining proposed loan terms and conditions for property financing.

find out more

Mortgage Payoff Form

A Philippine-compliant document stating the exact amount and requirements needed to fully satisfy and discharge a mortgage loan.

find out more

Assignment Of Mortgage

A Philippine law-governed document transferring mortgage rights from one party to another, including all necessary provisions for legal compliance and registration.

find out more

Mortgage House Discharge Form

A legal document used in the Philippines to release a property from mortgage obligations after full loan payment, authorizing the cancellation of mortgage inscription in property records.

find out more

Discharge Of Mortgage Letter

A legal document under Philippine law that confirms full mortgage payment and authorizes the release of a property's mortgage lien.

find out more

Contract For Deed Amortization Schedule

A Philippine legal document outlining installment payment terms and schedules for property purchase under a Contract for Deed arrangement, compliant with local real estate and financial regulations.

find out more

Assignment Of Mortgage Document

A Philippine law-governed document that transfers mortgage rights and interests from one party to another, requiring proper execution and registration under local property laws.

find out more

Letter Of Explanation For Cash Deposit

A formal letter required under Philippine banking regulations to explain and document the source and purpose of significant cash deposits, ensuring compliance with anti-money laundering laws.

find out more

Payment Letter Mortgage

A Philippine law-governed document that establishes mortgage terms and payment obligations, securing a loan against real property.

find out more

Mortgage Request Letter To Bank For Release Of Property Document

A formal request letter to a Philippine bank for the release of property documents after mortgage settlement, complying with local banking and property laws.

find out more

Letter For Mortgage Loan

A formal mortgage loan offer letter used in the Philippines that outlines approved loan terms and conditions, complying with local banking regulations and BSP requirements.

find out more

Demand Letter Mortgage

A formal notice under Philippine law demanding payment of outstanding mortgage amounts, serving as a prerequisite to foreclosure proceedings.

find out more

Certificate Of Mortgage

A Philippine legal document establishing a mortgage agreement between a property owner and lender, requiring registration with the Registry of Deeds.

find out more

Bank Gift Letter

A formal document used in the Philippines to record and process monetary gifts through banks, ensuring compliance with local banking and tax regulations.

find out more

Mortgage Letter

A formal document issued by Philippine financial institutions outlining approved mortgage terms and conditions, compliant with local banking regulations.

find out more

Mortgage Deed

A Philippine law-governed security document creating a mortgage over real property to secure debt or obligations, requiring notarization and registration with the Registry of Deeds.

find out more

Mortgage Letter From Bank

A formal bank letter confirming mortgage loan approval and terms under Philippine banking regulations and BSP requirements.

find out more

Letter Of Intimation Of Mortgage

A formal notification document used in the Philippines to inform relevant parties about a property mortgage, including key details about the mortgage terms and parties involved.

find out more

Letter For Down Payment

A formal business document used in the Philippines to confirm and document an initial payment (down payment) as part of a larger transaction, governed by Philippine commercial law.

find out more

Home Loan Sanction Letter

A formal document issued by Philippine financial institutions confirming home loan approval and outlining key terms and conditions under Philippine banking regulations.

find out more

Deposit Gift Letter

A Philippine legal document that formally declares and records a monetary gift from one party to another, complying with local banking and tax regulations.

find out more

Release Of Liability Mortgage

A Philippine legal document that releases a borrower from mortgage obligations and authorizes the removal of mortgage annotations from property titles upon full loan payment.

find out more

Real Estate Mortgage Form

A Philippine law-compliant document creating a security interest in real property to secure a loan or obligation, requiring notarization and registration with the Registry of Deeds.

find out more

Promissory Note Mortgage

A Philippine law-governed document combining a promise to pay with a real estate mortgage as security, establishing loan terms and property collateral arrangements.

find out more

Mortgage Receipt

A legally-compliant Philippine document acknowledging receipt of mortgage payment from borrower to lender, serving as official proof of transaction under local banking laws.

find out more

Mortgage Loan Application Form

A standardized Philippine mortgage loan application form that complies with local banking regulations and collects essential borrower and property information for loan processing.

find out more

Mortgage Confirmation Letter

An official document issued by Philippine financial institutions confirming mortgage details and status, compliant with BSP regulations and local banking practices.

find out more

Mortgage Completion Letter

A formal document under Philippine law confirming full mortgage payment and authorizing property release from mortgage encumbrance, issued by lending institutions to borrowers.

find out more

Letter To Lender

A formal communication document addressed to a financial institution in the Philippines, used for loan-related matters and governed by Philippine banking regulations.

find out more

Lender Approval Letter

A formal document issued by Philippine financial institutions confirming loan approval and specifying terms and conditions in compliance with local banking regulations.

find out more

Job Letter For Mortgage

A formal employment verification letter used in the Philippines to support mortgage loan applications, confirming employment status and compensation details for lending institutions.

find out more

Home Loan Letter

A formal home loan approval document issued by Philippine financial institutions, outlining loan terms and conditions in compliance with local banking regulations.

find out more

Home Financing Documents Release Form

A Philippine-compliant form acknowledging the release of home financing documents from a financial institution to a borrower, governed by local banking and real estate regulations.

find out more

Contract For Deed With Existing Mortgage

A Philippine legal document facilitating property sales with continued seller title ownership and existing mortgage, governed by Philippine civil and real estate law.

find out more

Letter Of Explanation For Mortgage Loan

A formal written explanation required in Philippine mortgage applications to clarify specific aspects of a loan application for the lending institution.

find out more

Relationship To Borrower Gift Letter

A Philippine-compliant formal letter documenting a monetary gift from donor to borrower for property purchase, confirming the gift's non-repayable nature and relationship between parties.

find out more

Bailee Letter Mortgage

A Philippine law-governed document establishing a three-party arrangement where a bailee holds possession of mortgaged property while acknowledging the mortgagee's security interest.

find out more

Mortgage Loan Form

A Philippine-compliant mortgage loan agreement that establishes loan terms and property security rights under Philippine banking and real estate laws.

find out more

Housing Loan Letter

A formal document issued by Philippine financial institutions confirming housing loan approval and outlining key terms and conditions under Philippine banking regulations.

find out more

Bank Pre Approval Letter

A formal bank document issued under Philippine banking regulations that indicates preliminary loan approval subject to specified conditions.

find out more

Mortgage Lien Release

A Philippine legal document that releases a mortgage lien from a property title after full payment of the mortgage debt, governed by Philippine property law.

find out more

Reverse Mortgage Deed

A Philippine law-governed deed establishing a reverse mortgage arrangement between a financial institution and an elderly property owner, enabling home equity conversion while maintaining residence rights.

find out more

Relocation Letter For Mortgage

A formal notification to a mortgage provider regarding property relocation under Philippine banking and property laws.

find out more

Reinstatement Letter Mortgage

A formal document under Philippine law that confirms the reinstatement of a previously defaulted mortgage loan to good standing status after the borrower has remedied all past due amounts.

find out more

Mortgage Pre Approval Letter

A Philippine bank-issued document confirming preliminary mortgage loan approval with specified terms and conditions, subject to final verification under Philippine banking regulations.

find out more

Mortgage Default Letter

A formal notice under Philippine law informing a borrower of their mortgage default status and required remedial actions.

find out more

Letter To Mortgage Company

A formal written communication to a mortgage lender in the Philippines, used for loan-related requests or inquiries, compliant with Philippine banking regulations.

find out more

Mortgage Application Form

A comprehensive mortgage loan application form compliant with Philippine banking regulations and data privacy laws, used for property financing applications.

find out more

First Payment Letter Mortgage

A formal document under Philippine law that outlines the terms and conditions of the initial mortgage payment, serving as the official commencement record of the mortgage agreement.

find out more

Discharge Of Mortgage Form

A Philippine legal document that releases a property from a mortgage lien after loan satisfaction, requiring registration with the Registry of Deeds.

find out more

Mortgage Release Deed

A Philippine law-governed document that releases a property from mortgage obligations and removes the lender's claim on the property after full debt satisfaction.

find out more

Derogatory Credit Explanation Letter

A formal letter under Philippine law explaining negative credit report items, providing context and corrective actions taken.

find out more

Paid In Full Letter From Lender

A formal document under Philippine law confirming complete loan satisfaction and releasing the borrower from further payment obligations.

find out more

Letter Of Intent For Mortgage

A preliminary document used in the Philippines expressing intent to obtain a mortgage loan, outlining key terms and initiating formal mortgage negotiations.

find out more

Release Of Mortgage Document

A Philippine legal document that formally releases a property from a mortgage lien after full payment of the debt, requiring registration with the Register of Deeds.

find out more

Payoff Letter From Lender

A formal document issued under Philippine law that states the final amount and terms required to fully satisfy and close out a loan obligation.

find out more

Pre Approval Letter For Mortgage Loan

A Philippine banking document indicating preliminary approval for a specific mortgage loan amount, subject to final verification and property assessment.

find out more

Gift Letter For Mortgage

A formal Philippine legal document declaring funds given as a gift for property purchase or mortgage purposes, complying with local banking and civil law requirements.

find out more

Offer Letter Mortgage

A formal mortgage financing proposal document issued by a Philippine bank to a prospective borrower, outlining loan terms and conditions in compliance with Philippine banking regulations.

find out more

Mortgage Release Letter

A formal document under Philippine law confirming full mortgage satisfaction and authorizing the release of property liens.

find out more

Mortgage Commitment Letter

A formal commitment document issued by Philippine financial institutions confirming mortgage loan approval and specifying lending terms, in compliance with BSP regulations.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.