Fillable Form Transfer of Funds Authorization

What is a Transfer of Funds Authorization Form?

A Transfer of Funds Authorization Form is used to authorize a transfer of funds from one bank account to another.

How to fill out a Transfer of Funds Authorization form?

Mark the appropriate box that determines the type of fund transfer. You may select:

• Transfer from this account only
• Transfer from any client account
• Single Request

From:

Account Number

Enter the account number of the source of the funds.

Account Name

Enter the account name of the source of the funds.

To:

Account Number

Enter the account number where the funds will be transferred to.

Account Name

Enter the account name where the funds will be transferred to.

Bank Routing Information, if applicable

Bank Name

Enter the name of the bank.

Bank Address

Enter the address of the bank.

Routing Number

Enter the bank routing number.

Amount of Funds to be transferred

Enter the amount of funds to be transferred in words and in numbers.

Additional Notes

Enter additional notes regarding the transfer of funds, if applicable.

Or Quantity and Description of Securities to be transferred

Enter the quantity and description of securities to be transferred.

Signature above Printed Name

Enter your full name and affix your signature above it.

Date

Enter the date the form was signed.

Advantages of using a Transfer of Funds Authorization Form

You have total control of your money

By using a Transfer of Funds Authorization Form, you have the power to release the money to the receiver or not. It ensures your safety from possible frauds and scams that may occur. When you do not authorize a fund transfer, the bank will not release any money from your account. The only way possible for the other party to receive money is when you already gave authorization. As the owner of the funds, you should know the right time to grant authorization.

You know where your money is going to

By using the Transfer of Funds Authorization Form, you'll be able to gather information about the destination of your funds. It means that upon writing the document, you know to whom you will be sending money and the bank to be used by the receiver. It gives you a chance to verify the information if the receiver is trustworthy or not.

Reminders to securely transfer funds

There are a lot of ways to transfer money securely. Here are some reminders on how to securely transfer funds:

Trust only the people you know

Sending money to someone you only met online or whom you do not know personally is not a good idea. Be cautious of social media posts that offer help to grow your money quickly. Do not believe people who describe themselves as online brokers via texts, emails, or direct messages; these could be investment frauds. When you become a victim, you will lose your money.

Verify information first before sending money

Make sure to verify if the request is legitimate. Fraudsters may impersonate someone you know who needs money immediately due to an alleged tragedy or terrible situation to scam you. In case this happens, contact the person in need through other channels. For example, If you received a request via a Facebook message, call them to confirm that they are seeking financial support. Before giving donations, you might also phone or ask other family members or acquaintances to ensure that the situation is indeed an emergency.

Be careful with your purchases online

Due to the rising demand for online shopping, fake online sellers have also increased. Before placing an order and sending your payment, be sure that you're buying from a trustworthy seller. In case you have become a victim of fraud or a scam, you may report your situation to the authorities by filing a proper complaint.

Follow bank procedures

For safe and secure fund transfers, follow only the guide provided by your trusted bank. Verbal instructions should not always be trusted. Some might try to tell you steps in transferring funds, but their true motive is to mislead you. Your trusted bank provides instructions that guarantee your safety in every transaction.

Check payment details and secure personal information

Before finalizing your fund transfer, double-check the spelling of the recipient's name and the amount. Information errors can cause delays and conflicts in your transactions. Moreover, take care of your personal information. Do not share your bank information, such as your card and authentication information.

Keep in touch

You should keep a transparent transaction regardless if you are the sender or the recipient. If you're the sender, make sure the receiver is up to date with the status of your fund transfer. If you are the recipient, please inform the sender if you have already received the funds transmitted for the sake of transparency.

Reminders in filing Transfer of Funds Authorization Form

In filing the transfer of funds authorization form, remember the following:

• Make sure to input accurate information such as the account number, account name, and the specific amount.
• Provide necessary documents needed for the completion of your fund’s transfer.
• Gather information first from the recipients to avoid scams.
• Double-check to ensure your transfer.
• For your convenience, a Transfer of Funds Authorization form template is available on PDFRun.