Document background
The Letter of Intent for Bank Account is a crucial preliminary document in Singapore's banking sector, typically used when establishing new banking relationships. It demonstrates serious intent to open an account while addressing regulatory requirements under MAS guidelines. This document is particularly important for business accounts, international clients, or complex banking arrangements where formal documentation of intent is required before proceeding with the full account opening process. The letter typically includes account purpose, proposed services, and compliance declarations, serving as a fouNDAtion for the subsequent account opening procedure.
