What is a Bank Account Confirmation letter and what its used for?

What is a Bank Account Confirmation letter and what its used for?

What is a Bank Account Confirmation letter?

A Bank Account Confirmation letter is a formal statement released by a bank that confirms the existence of a bank account and confirms the name of the account holder.

What is a Bank Account Confirmation used for?

A Bank confirmation letter is a letter from a bank, validating that a named person is the account holder of a specified bank account. It ensures that debtors can get money deposited to the correct bank accounts.
  1. We require a Bank Account Confirmation Letter before making any payment to Service Providers, vendors or suppliers.
  2. This is done to ensure that we are paying the correct person and to eliminate the possibility of fraud.
  3. It also ensures that we have the correct details because Service Providers, vendors or suppliers. and/or our staff could make mistakes when not dealing with official bank letters.

We understand that this may seem like an extra step,
but it is necessary to protect our Service Providers, vendors or suppliers.
and our business from fraudulent activities.


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