Document background
The Letter of Intent to Open Bank Account serves as a preliminary document in Singapore's banking system, indicating a formal interest in establishing a banking relationship. This document is typically used when initiating the account opening process, particularly for complex banking arrangements or corporate accounts. It demonstrates compliance with Singapore's stringent banking regulations and helps streamline the account opening process. The letter includes essential information about the applicant, proposed banking services, and commitment to meet regulatory requirements, serving as a precursor to the formal account opening documentation.
