Letter to Client Giving Mandate for Payment

When drafting a letter of mandate to a client regarding payment methods, it's essential to maintain clarity and politeness. Clearly state the purpose of the letter, provide details about the preferred payment method, and include all necessary banking information. Additionally, express gratitude for the client's cooperation.

To,
_____________ (Receiver’s Name),
_____________ (Receiver’s Address)

Date: __/__/____ (Date)

Subject: Mandate for NEFT/RTGS

Dear Sir,

With reference to ______ (deal/agreement) had with you. I am writing this letter to request you to kindly release all payments through Wire/RTGS/NEFT transfer. We hereby give our mandate to credit all payments to be made to us going forward in our Bank Account through the Wire/RTGS/NEFT.

The details of the Bank Account are mentioned below:-.

Name of Beneficiary: ____________
Name of the Bank: ____________
Account No.: ____________
Type of bank account: ____________
Bank IFSC Code: __________
Swift Code: __________
Branch & Address: ____________
MICR code: ____________

I/We hereby declare that the particulars given above are correct and complete.

Thanking you,
Yours faithfully,
For __________ (Company/Firm name)

Authorized Signatory

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FAQs

What is the purpose of issuing a mandate for NEFT/RTGS payments?
- Issuing a mandate for NEFT/RTGS payments ensures that all future payments from the client are processed through electronic transfer, streamlining the payment process and reducing administrative overhead.
Why is it important to provide accurate banking details in the mandate letter?
- Accurate banking details are crucial to ensure that payments are credited to the correct account without any errors or delays. Providing comprehensive banking information helps facilitate smooth transactions.
Can the mandate letter be used for other payment methods besides NEFT/RTGS?
- Yes, the mandate letter can be customized to specify other payment methods such as wire transfer, direct deposit, or any other preferred mode of payment.
Is it necessary to include a declaration of accuracy in the mandate letter?
- Yes, including a declaration of accuracy assures the recipient that the provided banking details are correct and complete, enhancing trust and reliability in the transaction process.
What should be the tone of the mandate letter?
- The tone of the mandate letter should be professional, polite, and formal, expressing gratitude for the client's cooperation while clearly conveying the request for payment method preference.

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Letter to Client Giving Mandate for Payment – Sample Letter of Mandate to Client

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