The Bank Deposit Letter is a fundamental banking document used in the Philippines to formalize and document the establishment of a deposit account relationship between a financial institution and its customers. This document is required whenever a new deposit account is opened, whether for individual, joint, or corporate accounts. The letter serves multiple purposes: it confirms the account details, establishes the terms and conditions of the deposit relationship, provides required regulatory disclosures, and serves as official documentation for both the bank and the customer. Operating under Philippine banking laws and BSP regulations, the Bank Deposit Letter must include specific elements such as PDIC insurance coverage statements, anti-money laundering declarations, and applicable interest rate information. It forms part of the bank's essential documentation for regulatory compliance and customer service purposes.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Letter Header: Bank's letterhead, date, reference number, and addressee details
2. Account Holder Information: Complete details of the account holder(s) including full name, address, and identification information as required by BSP regulations
3. Account Details: Specific information about the deposit account including account number, type of account, and initial deposit amount
4. Deposit Terms: Key terms including interest rate, term length (if applicable), and conditions of the deposit
5. PDIC Coverage Statement: Mandatory statement about deposit insurance coverage as required by Philippine law
6. Account Access Information: Details about authorized signatories, withdrawal conditions, and access methods
7. Declarations: Standard declarations regarding AML compliance and source of funds
8. Closing and Signatures: Formal closing, signature blocks for bank officials and acknowledgment section
1. Special Instructions: Used when there are specific handling instructions or conditions for the account
2. Joint Account Provisions: Required when the account has multiple holders, specifying operating instructions and survivorship rights
3. Digital Banking Services: Include when the account comes with online or mobile banking access
4. Foreign Currency Provisions: Required for foreign currency deposit accounts, including specific regulations and exchange rate provisions
5. Trust or Corporate Account Details: Required for accounts held by trusts or corporations, including authorized representative information
1. Schedule of Fees: Detailed breakdown of applicable banking fees and charges
2. Interest Rate Schedule: For time deposits or special rate arrangements, detailing the interest rate structure
3. Identification Documents: Copies of required identification documents as per BSP regulations
4. Specimen Signatures: Card or form containing authorized signatures for the account
5. Corporate Resolution: For corporate accounts, board resolution authorizing the account opening and designated signatories
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Corporate Services
Retail Banking
Investment Banking
Public Sector
Small and Medium Enterprises
International Trade
Real Estate
Insurance
Education
Healthcare
Non-Profit Organizations
Manufacturing
Retail and Commerce
Relevant Teams
Legal
Compliance
Operations
Customer Service
Risk Management
Internal Audit
Treasury
Account Management
Document Control
Corporate Banking
Retail Banking
International Banking
Relevant Roles
Bank Branch Manager
Account Officer
Compliance Officer
Legal Counsel
Risk Manager
Customer Service Representative
Operations Manager
Treasury Manager
Financial Controller
Relationship Manager
Document Control Officer
Internal Auditor
Corporate Secretary
Chief Financial Officer
Banking Operations Supervisor
Find the exact document you need
Electronic Direct Deposit Form
A Philippine-compliant Electronic Direct Deposit Form for setting up automated payroll transfers to employee bank accounts, adhering to local banking and data privacy regulations.
find out more
Direct Deposit Form For Employees
A Philippine-compliant authorization form enabling employers to deposit employee compensation directly into designated bank accounts, adhering to local banking and privacy regulations.
find out more
ACH Deposit Authorization Form
A Philippine-compliant authorization form for setting up automatic electronic fund transfers through the ACH system.
find out more
Bank Letterhead For Direct Deposit
A Philippine-compliant bank letterhead document authorizing direct deposit arrangements, meeting BSP regulations and banking laws.
find out more
Deposit Return Request Letter
A formal letter used in the Philippines to request the return of deposited funds from a bank or financial institution, complying with Philippine banking regulations.
find out more
Vendor ACH Direct Deposit Authorization Form
A Philippine-compliant authorization form for setting up automated direct deposit payments to vendors through the ACH system.
find out more
Deposit Slip Receipt
A Philippine banking document that serves as official proof of deposit, complying with BSP regulations and banking laws.
find out more
Deposit Release Form (Real Estate)
A Philippine-compliant legal document authorizing the release of deposits held in real estate transactions, subject to local property laws and banking regulations.
find out more
Simple Deposit Agreement
A Philippine law-governed agreement establishing terms for the safekeeping of property between a depositor and depositary, outlining rights and obligations of both parties.
find out more
Cheque Deposit Form
A Philippine-compliant banking form for processing check deposits, following BSP regulations and local banking laws.
find out more
Security Deposit Dispute Letter
A formal letter used in the Philippines to dispute security deposit withholding or request its return, governed by Philippine rental laws and regulations.
find out more
Online Direct Deposit Form
Philippine-compliant Online Direct Deposit Form for setting up electronic salary payments, adhering to local banking and data privacy regulations.
find out more
Rental Bond Receipt
A Philippine legal document acknowledging receipt of a rental security deposit/bond from tenant to landlord, governed by local rental laws and the Civil Code.
find out more
Bond Deposit Form
A legally binding document used in the Philippines that establishes the terms and conditions for depositing bonds with a financial institution, in compliance with Philippine banking and securities regulations.
find out more
Security Deposit Itemization Form
A Philippine-compliant form detailing the itemized deductions and calculations for security deposit return at lease termination.
find out more
Security Deposit Refund Letter
A formal letter used in the Philippines to request or confirm the return of a security deposit after lease termination, compliant with Philippine property law.
find out more
Security Deposit Invoice
A Philippine-compliant financial document acknowledging receipt of a security deposit and establishing terms for its holding and return.
find out more
Real Estate Deposit Receipt
A Philippine legal document acknowledging receipt of a property purchase deposit and outlining the terms and conditions of the deposit agreement.
find out more
Pre Contract Deposit Agreement
A Philippine law-governed agreement establishing terms for holding and managing pre-contract deposits, protecting both depositor and deposit holder interests.
find out more
Holding Deposit Agreement
A Philippine law-compliant agreement establishing terms for a property holding deposit, securing the property while the potential buyer completes transaction preparations.
find out more
Earnest Money Agreement
A Philippine law-governed agreement detailing earnest money terms between buyer and seller, typically used in property transactions.
find out more
Deposit Receipt
A Philippine-compliant banking document that serves as official proof of deposit, recording transaction details and conforming to local banking regulations.
find out more
Deposit Invoice
A Philippine-compliant financial document that formalizes deposit payments and terms between parties, meeting local legal and tax requirements.
find out more
Deposit Contract
A Philippine law-governed agreement establishing terms and conditions between a depositor and depositary for the safekeeping of money or property.
find out more
Certificate Of Deposit
A Philippine-law governed Certificate of Deposit document evidencing a time deposit agreement between a bank and depositor, regulated by the Bangko Sentral ng Pilipinas.
find out more
Request For Return Of Security Deposit Form
A formal request document used in the Philippines for recovering security deposits from landlords after lease termination, compliant with Philippine property laws.
find out more
Rental Deposit Agreement Form
A Philippine-compliant legal agreement establishing terms and conditions for rental deposits between landlords and tenants.
find out more
Recurring Deposit Form
A Philippine-compliant banking form for establishing regular fixed deposits with specified terms, conditions, and interest rates under local banking regulations.
find out more
Letter Of Direct Deposit
A Philippine-compliant authorization document for establishing automatic electronic fund transfers into a specified bank account, following local banking regulations.
find out more
Direct Deposit Form
A Philippine-compliant authorization form enabling automatic deposit of employee wages into their designated bank account, following BSP regulations.
find out more
Security Deposit Return Form
A Philippine-compliant form documenting the return of security deposits from landlords to tenants, including deposit details and mutual release of claims.
find out more
Security Deposit Refund Form
A Philippine-compliant form documenting the return of security deposits from rental properties, including deposit details, deductions, and refund calculations.
find out more
Security Deposit Agreement Form
A Philippine law-compliant agreement establishing terms for handling property security deposits between landlords and tenants, including deposit payment, maintenance, and return conditions.
find out more
Itemized Security Deposit Deduction Letter
A Philippine-compliant formal letter detailing deductions from a tenant's security deposit, including itemized charges and remaining balance calculations.
find out more
Direct Deposit Request Form
A Philippine-compliant banking form authorizing employers to deposit payments directly into employees' bank accounts, subject to local banking and privacy regulations.
find out more
Direct Deposit Application Form
A Philippine-compliant banking form for setting up automatic deposits of funds into designated bank accounts, adhering to BSP regulations and data privacy requirements.
find out more
Deposit Request Form
A Philippine-compliant banking form for opening new deposit accounts, incorporating regulatory requirements and customer information collection.
find out more
Deposit Refund Form
A Philippine-compliant form for processing deposit refund requests, including customer details, refund information, and necessary authorizations.
find out more
Deposit Application Form
A Philippine-compliant banking form for opening deposit accounts, meeting BSP regulations and including necessary customer information and regulatory declarations.
find out more
Certificate Of Deposit Form
A Philippine banking document that evidences a time deposit agreement, governed by BSP regulations, specifying deposit terms, interest rates, and withdrawal conditions.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)