Banker’s verification letter
A bank verification letter (often called a banker’s verification letter or signature verification letter) is an official document issued to an account holder by the bank. A bank’s legal customer drafts it to confirm their identity and formalize their association with the bank. In typical cases, it is a letter used to affirm the signatory’s identity who is authorized to attest the Proof of Relationship documents held by the account holder and other formal receipts such as a Letter of Employment. The Branch Manager of the bank verifies the contents and format of banker’s verification letter.
Most banks and organizations across the country use a similar template for their signature verification letters. The difference often lies in whether the organization that concerns you will require a print of their standard template or for you to draft an authentic letter. It is important to note that you may require an official letterhead from the concerned bank to enclose the verification letter. This can be requested directly to the bank head or branch manager in a formal fashion.
The general format of a banker’s verification letter is as follows:
1. The letter begins with the letterhead on top (if required)
2. Subject line must read “TO WHOMEVER/WHOMSOEVER IT MAY CONCERN.”
3. The opening statement must certify the signatory by name, followed by their address, account number of the holder, and the year of opening the account.
4. The address recorded as per the bank at the time of opening the account comes next.
5. The following line must contain the 11-character IFSC code of the bank branch.
6. The final line states the name of the bank branch.
7. The letter is closed with space for the banker’s signature, followed by their name, designation, branch details, and verification date.
Debit note and Credit note
Issuing debit note and credit note is a method to efficiently and transparently maintain a business account. These may be applied to the sales of goods and services or the receipt of new assets and liabilities. Contrary to invoices that are drafted to mention only the charges due for the customer, these notes provide additional information about the products, such as known defects or sales in excess compared to unit charges.
A debit note is issued by the client to the seller notifying or requesting issues with the sold goods. These may be about refunds, payment adjustments to be made, or defective products. This is adjusted accordingly in the books of the company at the end of their accounting period.
On the other hand, a credit note is issued to the client by the seller to address a failure in delivering their product after the client has been charged. These may be issued regarding delays in delivery, loss of product during transportation, inability to provide the desired service, and so on. The credit note is used to adjust the company’s books about the sales invoice at the end of the accounting period.