Request Letter For Outward Remittance Template for Malaysia

The Request Letter For Outward Remittance is an essential document in Malaysian banking operations, required whenever an individual or organization needs to transfer funds from Malaysia to an international recipient. This document is mandatory under Malaysian law and must conform to Bank Negara Malaysia's Foreign Exchange Administration Rules. It serves multiple purposes: it provides the bank with transfer instructions, demonstrates regulatory compliance, and creates an audit trail for the transaction. The letter must include comprehensive details about the remitter and beneficiary, clear purpose of remittance, source of funds declaration, and authorization for the bank to execute the transfer. Supporting documents are typically required to verify the legitimacy of the transfer and ensure compliance with anti-money laundering regulations.

1. Letter Date and Reference Number: Current date and any reference number for tracking purposes

2. Bank Details Block: Recipient bank's name, branch, and complete address

3. Salutation: Formal greeting to the bank's officer

4. Subject Line: Clear indication that this is a request for outward remittance

5. Applicant Information: Complete details of the remitter including full name, account number, contact information, and address

6. Beneficiary Information: Complete details of the recipient including full name, account number, bank details, and address

7. Transaction Details: Amount to be transferred, currency, and exchange rate (if applicable)

8. Purpose of Remittance: Clear statement of the reason for the transfer, meeting Bank Negara Malaysia's declaration requirements

9. Source of Funds: Declaration of where the money is coming from

10. Authorization: Express authorization for the bank to debit the account and process the transfer

11. Closing and Signature: Formal closing, signature block, and contact information for follow-up