To get a proof of funds letter from your bank, call your branch or log into online banking, tell them the dollar amount you need verified and who will receive the letter, and authorize them to release it. Most banks produce the letter on their letterhead within one to two business days at no cost, though some charge $10 to $25 for rush service or extra copies.
Gather Your Information Before You Call
The request goes faster when you have the details ready. Pull together:
- Your full legal name exactly as it appears on the account.
- The account number or numbers you want the letter to reflect.
- The amount you need verified, which should match what the transaction actually requires rather than your entire balance.
- The name and contact information of the recipient, typically the title company, seller’s agent, or auction house.
The recipient’s information matters because the bank is disclosing financial information to a third party, and your authorization has to name who receives it. Under the Gramm-Leach-Bliley Act, banks generally cannot share your nonpublic personal information with outside parties unless you consent or the disclosure falls under a recognized exception such as processing a transaction you’ve authorized.1Federal Trade Commission. How To Comply with the Privacy of Consumer Financial Information Rule of the Gramm-Leach-Bliley Act Your written request or signed authorization form is that consent.2eCFR. 12 CFR Part 332 – Privacy of Consumer Financial Information
How to Submit the Request
You have three practical options.
The fastest is calling your bank or walking into a branch. Speaking directly with a banker lets you sort out details on the spot and is the right choice when you’re up against an escrow deadline. A simple request at a local branch can sometimes be handled the same day.
Many banks accept requests through their online banking portal, usually under a services or documents section. These typically take 24 to 48 hours.
Email or secure message through the bank’s app is the third route, and it works well when you have a few days of lead time. In a competitive market, start the process before you make your offer, not after.
What It Costs and How Long It Takes
Most banks produce the letter for free within one to two business days. Some charge a small fee, typically $10 to $25, for rush processing or multiple copies. If your bank quotes a higher fee, ask whether a recent bank statement would satisfy the recipient instead, since printing a statement from online banking costs nothing.
In rare cases, particularly with large balances or accounts that trigger additional compliance review, turnaround can run longer. Build a buffer if you can.
Which Accounts You Can Include
The letter focuses on liquid assets, meaning money you can reach quickly without penalties or delays. Checking accounts, savings accounts, and money market accounts are the standard sources. If you hold funds across several accounts at the same bank, the letter can usually show the combined total.
Certificates of deposit are a partial exception. A CD that has already matured, or one maturing before your closing date, generally qualifies. A CD locked in for another two years does not, because reaching that cash means early withdrawal penalties and delay. Check maturity dates and penalty terms before you ask the bank to include CD balances.
Retirement accounts, brokerage holdings, home equity, and real estate value do not qualify for most transactions. Recipients want money that is available now, not assets that would need to be sold or borrowed against. If most of your wealth sits in investments, plan to liquidate into a bank account before requesting the letter, and give the transfer time to settle.
What the Finished Letter Contains
A proof of funds letter arrives on the bank’s letterhead and typically shows:
- The account holder’s legal name, matching your government-issued ID.
- The total available funds as of a specific date.
- The date the bank issued the letter.
- A phone number, and sometimes a direct contact, so the recipient can verify authenticity.
- An authorized signature from a bank officer, usually with their title.
Some letters include the last four digits of your account number, though banks vary on this. The letter does not need to show your full account number, transaction history, or any details beyond the available balance. If a recipient later calls the bank to verify, federal privacy rules limit what the bank can share: it will typically confirm that it issued the letter and that the balance was accurate as of the issuance date, and will not disclose current balances or transaction details.3FDIC.gov. VIII-1 Gramm-Leach-Bliley Act (Privacy of Consumer Financial Information)
Delivery and Notarization
Banks usually deliver the finished letter by encrypted email, through their secure online portal, or as a physical copy for branch pickup. Encrypted email is the most common and usually the fastest. If the recipient wants a physical document with a wet-ink signature, certified mail is available but adds days. For time-sensitive deals, picking up the letter at the branch and then scanning it to the recipient covers both speed and formality.
If the letter needs to be notarized, most banks offer notary services. Notary fees are set by state law and typically run $2 to $25 per signature, with most falling between $5 and $10. Your bank may notarize a customer’s document for free.
How Long a Letter Stays Useful
Proof of funds letters don’t carry a printed expiration date, but a three-month-old letter usually won’t be accepted. Most recipients want to see a letter dated within the last 30 to 60 days, because account balances shift. The closer the issuance date is to your offer date, the more weight it carries.
If your search stretches longer than planned, request an updated letter before submitting a new offer. A stale letter suggests either disorganization or that the money may no longer be sitting where you claimed, and neither reading helps you.
When a Bank Statement Will Do Instead
A formal letter on bank letterhead is the standard, but recipients often accept alternatives. A recent bank statement showing the required balance is the most common substitute. An official money market statement works the same way. For buyers using investment funds that have already been transferred to a bank account, a certified financial statement signed by an accountant can also serve.
If you use a statement, redact all but the last four digits of your account number. Most recipients accept partially redacted statements, and this keeps your full account details out of circulation. Don’t redact so aggressively that the document looks altered; over-redaction raises more questions than it answers.
Proof of Funds Is Not a Pre-Approval Letter
The two documents answer different questions, and swapping one for the other stalls deals. A mortgage pre-approval letter shows that a lender has reviewed your income, credit, and debts and is willing to lend you a specific amount; it proves you can make monthly payments. A proof of funds letter shows cash sitting in an account right now, and proves you can get to the closing table.
Cash buyers need only the proof of funds letter, covering the full purchase price plus closing costs. Financed buyers usually need both documents: the pre-approval for borrowing capacity, and proof of funds for the down payment, closing costs, and any lender-required reserves. Confirm which one the recipient asked for before you send anything.