written by Abhishek | August 14, 2020

How to write a Bank Verification Letter for Various Banks?

In an ever-changing society, banks have become a widely recognised institution. Whether organisations or individuals, everyone holds an account with a bank. The range of services offered by banks has also increased. These changes have brought a lot of procedures concerning various services. These include opening a bank account, getting a Credit Card, requesting the bank for a bank confirmation letter, etc.

Some situations require you to write a banker verification letter. Therefore, it would be necessary to understand how to write one. It is a verification letter or confirmation letter that proves that you have an account with the bank. Further, through the letter, you guarantee to have the necessary balance in that bank account. Let’s learn about the format of the banker's verification letter.

Steps Involved In Writing A Bank Verification Letter

Various banks may have their own format of the banker's verification letter. However, the essential steps in writing the letter remain the same. If you understand the letter’s basic requirements and format, it is easy to adopt a similar approach where possible. 

An ordinary banker's verification letter contains the following:
 

 

Name of Requester

Refers to the entity or person trying to have your bank account details confirmed. It could be, a business, organisation, or an individual.

 

Address and Name of the Bank Branch

It is the bank’s name and the branch location where the customer has an account. 

 

Name of the Account Holder

Refers to the name of the customer who holds the account. 

 

Account Number

The customer’s bank account number was is generated when opening the account.

 

Date of Account Opening

The date of opening the bank account.

 

Outstanding Balance

The amount of money that is available in that bank account. 

Bank Confirmation Letter Format

A bank account confirmation letter is a letter from the bank to its client, confirming the details concerning the bank accounts and facilities used by the customer from the bank during a financial year. The letter serves as proof for the auditors for audit purposes.

For the most part, the customer requests this confirmation from the bank soon after a financial year. The customer requires the bank to confirm the bank account balance at the year-end, i.e., 31st March and other details.

Here is a format of a bank confirmation letter to the bank from the customer. Alter it according to your necessity.

Also Read: What are Debit, Credit Note and their Formats?

 

Ref.: …….

Date: ……

 

To

The Manager

(Bank Name)

(Branch Name)

(Address)

 

Sub.: Balance Confirmation as of 31st March, …….

 

Dear Sir/Madam,

 

Kindly confirm the balance as of 31st March, ……... for the following, which is required for our annual financial audit purpose.

 
  1. Current A/c No. ……………….
  2. Term Loan A/c No. …………...
  3. Cash Credit A/c No. ………….
  4. Letter of Credits
  5. Bank Guarantees
  6. Fixed deposits along with accrued interest
 

Kindly do the needful.

 

Thanking you,

Yours faithfully,

For……... Limited,

 

(signature)

(Name of the Authorised Signatory)

(Designation)


Format of Banker’s Verification Letter

The banker's verification letter format as per bank is another letter format that you should know. We have provided a  sample format below. Check with the particular bank for a bank verification letter, as it might look slightly different. In any case, the main details will not change.

 

Date………...........

 

Name.: …….........

 

Title.: …………….

 

Organization.: ………….

 

Address.: ……………….

 

City Name, State Pin Code Number.: ………...

 

Dear Mr. /Ms. Full Name.: ………...

 

RE: Bank Account Verification Letter

 

We draft this letter to confirm that the customer above mentioned holds an account with us ................................ (specify the full name of the customer). The account is …………................................. (specify the bank account number) and was opened on ................................................... (indicate the time and date when the bank account was opened). It has an outstanding balance of Rs........................................................... (reveal the outstanding bank balance).

 

Don't hesitate to request other information you would require about this customer. We can be of assistance to you.

 

Contact us on the phone: ......................................

 

Faithfully,

 

Your Full Name

 

(Authority Position)

Bank Statement Letter Format

An account statement or bank statement is a document given by a bank showing the activity in a depositor’s current account or savings accounts during the time frame. Account-holders can monitor their transactions/exchanges and accounts through bank statements. This letter will contain all details according to the bank verification letter format and includes the debit and credit details for your account.

A bank statement letter gives full details of the account for the requested time. A bank statement sums up the following:

  1. Funds withdrawn from the account in the form of cheques, cash, etc.
  2. Penalties and service fees charged against the account.
  3. Interest earned on the account.
  4. Deposits  in the form of cash deposits, income, etc. to the account
  5. The opening and closing balance of the account for the period. 
 

Bank Statement

 

Account Holder Details:

 

Account Holder Name

Residential Address

Registered Mobile Number

 

Account Details:

 

Account Type

Account Balance

FD Link

Total Balance

Nomination

 

Account Statement:

 

Transaction Date

Value Date

Description

Ref. No./Cheque No.

Debit (Dr.)

Credit (Cr.)

Balance

03 Feb 2021

03 Feb 2021

XXXXX

XXXXX

XXXXX

XXXXX

XXXXX

07 Feb 2021

07 Feb 2021

XXXXX

XXXXX

XXXXX

XXXXX

XXXXX

15 Feb 2021

15 Feb 2021

XXXXX

XXXXX

XXXXX

XXXXX

XXXXX

27 Feb 2021

27 Feb 2021

XXXXX

XXXXX

XXXXX

XXXXX

XXXXX

 

Rewards Points Summary:

 

Saving Account Number

Card Number

Earnings

Total Balance

 

Account-Related Other Information:

 

Account Type

Account Number

MICR

IFSC

A bank statement or account statement typically contains three sections: 

  1. Transaction History
  2. Account Details
  3. Account Holder Details

Account holder details are shown at the top of the bank statement. It includes the name, registered mobile number and address. 

After account holder details, we come to the account details. It contains the account description, the account type, balance, details of other linked accounts and nominee details.

The transaction detail part shows every debit and credit recorded with the amount, date, and details of the payer or payee.

A customer can pick the statement time frame for which he/she needs the account statement or bank statement.

Also Read: Net Present Value Explained - Definition, Formula & Examples

PACL Bank Verification Letter

The Lodha Committee had announced that the investors could claim back the money invested in Pearl Agrotech Corporation Limited (PACL). You can use the PACL bank verification letter pdf and follow the process below. 

The Securities and Exchange Board of India formed the R.M. Lodha Committee to investigate Subrata Bhattacharya vs. SEBI (Securities and Exchange Board of India) and in another related issue following the bearings of the Hon'ble Supreme Court of India. The Lodha Committee designated the Chairmanship to the previous Chief Justice of India, Hon'ble Justice R.M. Lodha.

Documents Required for online Pearl Agrotech Corporation Limited (PACL) refund application:

  1. Name of the investor as per Pearl Agrotech Corporation Limited (PACL) Certificate.
  2. Claimant’s mobile number.
  3. Amount claimed (in rupees).
  4. Scanned copy of Pearl Agrotech Corporation Limited (PACL) Certificate.
  5. Bank account number and IFSC code.
  6. Pearl Agrotech Corporation Limited (PACL) Scheme Payment Registration number.
  7. Bank Statement showing the last three transactions.
  8. Aadhaar/ PAN Number.
  9. Scanned copy of Aadhaar Card / PAN Card.
  10. Whether land has been allotted to the claimant.

You can use the bank verification letter PACL pdf and follow the process given below to claim a refund:

  1. Claimants need to have these documents to submit their applications.
  2. Click on www.sebipaclrefund.co.in and then click on the ‘Registration’ button present on the right-hand side.
  3. Fill in all the required fields such as Mobile number, Captcha Code, Pearl Agrotech Corporation Limited (PACL) registration number, and then click on ‘Generate OTP’.
  4. Enter the OTP received on your enrolled mobile number.
  5. Create a password.
  6. On effective enrolment, you can now login to submit your claim.
  7. After login fills in your bank details, document details, personal details, and receipt details, and Pearl Agrotech Corporation Limited (PACL) certificate.
  8. Upload all the documents as mentioned above.
  9. Tick agree and click submit.
  10. You will receive an SMS and from that point, you can track your claim status web.

The format of the banker verification letter is below:
 

 

Format of Banker’s Verification Letter

 

To Whom It May Concern

 

Sir,

 

We certify that M/s……………………………………...…………………………………………, Address……………………………………………...…………....................................................(Name the applicant) is/are maintaining a Current Account/ Savings Bank Account (tick whichever is applicable) Number….…………………………………… (Mandatory) with us since……………………………………

 

Their address as recorded with us………………………………………………………………...

 

The 11 Character IFSC Code of our Branch is …………………………………………... (Mandatory)

 

Branch Name........................................................

 

Signature of the Banker with Stamp

 

Date.: …………………                                                                                                                                   Name.: ……………………………

Place.: ……….............                                                                                                                                  Designation.: ……………………           

Things to Keep in Mind 

There are things you need to remember when drafting a banker’s verification letter. Those are:

Things to Keep in Mind when drafting a banker’s verification letter

 

Professional Tone

 

Similar to writing to someone in authority, this letter should be formal. Minimise informal words and terms.

 

Timeliness

Most situations require the letter without much delay. Hence it is advisable to send it at the earliest.

 

Accuracy

The bits of information you give must be verifiable and accurate. Dont provide incorrect or false details.

 

Confidentiality

Make sure all the relevant details stay private and do not share with anyone other than the parties involved.  

Some Final Words

Having your bank account verified doesn’t mean you automatically get the benefit when you apply for something like a bank loan. You should make sure all your information is accurate and can be verified. Banker's verification letters are accessible online on most bank sites. You can also set one up after the steps clarified previously. Generally, they follow the same format with minor changes depending on the bank.

Also Read: A Complete Guide on Cost Inflation Index

FAQs

Can I use a bank account confirmation letter as proof?

Yes, a bank account confirmation letter can be used as proof of you holding an account with the bank. 

Is the format of a bank account confirmation letter always the same?

While the basic structure of the letter remains the same, different banks may have slightly different formats.

Can I send anyone else to get the confirmation or verification letter?

You may authorise someone else to submit and collect these documents, however only you as the account holder can sign these requests. In the case of organisations, authorised signatories can sign.

Can I get the bank statement for a different period instead of one month?

Yes, you can get the bank statements for the period you need. For longer periods or in the case of numerous transactions, banks may advise you to submit the requests in advance.

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