For example, the client may have $2,136,942. 27 in a particular account. But at this time, the client only needs to verify proof of funds up to $100,000. Your letter should simply say that the client has “at least $100,000” available. That will serve the purpose but not disclose more of the client’s information than necessary.
For example, your letter should say, “As of October 15, 2016, our client John Smith has access to at least $____ in his account at ABC Bank. ” Providing the date allows the seller to consider the validity of the proof of funds letter. For example, if you write the letter on October 15, 2016, but the client does not present it until the following April, the seller may have concerns as to whether the funds are still available. In that instance, the seller may require a new proof of funds letter.
For example, if Mr. John Smith requests a proof of funds letter, and the account is a joint account between Mr. and Mrs. Smith, your letter may say, “As of October 15, 2016, Mr. John Smith has access to at least $____ in an account at ABC Bank. Said account is held jointly in the names of Mr. John Smith and Mrs. Alice Smith. ” The seller can then review your letter and make its own determination about whether to proceed with the transaction.
