In simple words, a bank reference is a verification document sent by the bank to the account holder or another person or company who applied for the reference with consent of the account holder. This reference usually includes the verification of an individual’s account in the bank where on the other hand, this reference also includes the compatibility, reputation and financial health of an account holder upon request from the applicant. Usually banks only release this reference to the account holders but with the written consent from the account holder, this reference can be released to any other person, company or government department.
Introduction to the Request Letter for Reference:
There are many situations and circumstances in which you need to provide a good reference from a third person in order to apply for a loan, mortgage loan, credit card or any other kind of credit. For example, you want to get a loan for your business but you don’t have anything property or possession to pledge as collateral for the guaranty of the safe return of the loan. In this situation, you can also provide a reference from the bank that you have your account in. when the loan provider contact the referral bank on your behalf, he will ask the bank to verify if you have good credit reputation and if you qualify for a certain amount of loan depending on your financial health or not. This request is made to the bank with the formal letter of reference request.
Most common format of Request Letter for Reference:
Many things are included in the bank reference request letter but the most important part of this letter is the section in which the applicant includes a series of question or queries to be verified from the bank and the consent of the account holder who authorized the request. Each bank has this reference form available on their websites and main branches and in order to request for the reference verification, you need to fill out this form and send it to the bank. You also need to send this form first to the account holder and ask him to fill out the consent section of the form and ask him to send it back to you so that you can forward it to the bank.
Key elements to include in the Request Letter for Bank Reference:
- Name of the person who is requesting the reference with complete address
- Name of the company that is requesting the reference on behalf of account holder
- Name of the account owner who provided the name of bank as key reference
- Date when the request letter is being sent to the bank for reference issuance
- Details of the elements or particulars that the applicant needs to verify from the bank
- Reasons why the applicants wants to verify the bank reference (not necessary)
- Written consent of the account owner who allowed the issuance or verification of reference
- Duration in which the bank is asked to respond with the reference approval or denial
- Signature of the person who is sending the request letter to the bank
Request Letter for Employee Reference Verification:
Here is preview of a Free Sample Request Letter for Employee Reference Verification, created as Fill-able PDF Form,
Here is download link for this Request Letter for Reference,