Document background
The Fund Transfer Letter is a fundamental banking document used in the Indonesian financial system to facilitate the transfer of funds between bank accounts. It is required whenever an account holder needs to initiate a significant or formal transfer of funds, whether for business transactions, investment purposes, or other financial obligations. The document must comply with Indonesian banking regulations, including Bank Indonesia regulations and anti-money laundering laws. It typically includes comprehensive details about the transfer parties, amount, purpose, and authorization, serving as both a transfer instruction and an official record. The Fund Transfer Letter is particularly important in Indonesia's banking system, where formal documentation is required for audit trails and regulatory compliance, especially for corporate transactions or international transfers.
