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A Recommendation Letter For Opening A Bank Account is a crucial document in the Austrian banking system, particularly when establishing new banking relationships. This document becomes necessary when individuals or entities seek to open bank accounts in Austria, especially in cases involving foreign nationals, students, or business entities without an extensive presence in the country. The letter must comply with Austrian banking regulations, including the Bankwesengesetz (BWG) and anti-money laundering legislation, while adhering to GDPR requirements. It typically includes verification of the applicant's identity, character references, and professional or financial standing, provided by a credible third party who has a demonstrable relationship with the applicant. The document serves as part of the bank's due diligence process and helps facilitate account opening procedures while meeting regulatory requirements.

1. Letter Header: Full contact details of the recommender, including professional title/position, business address, and date

2. Bank Address Block: Formal address block with the receiving bank's details

3. Salutation: Formal greeting to the bank's representative

4. Introduction: Purpose of the letter and relationship with the recommended person

5. Identity Confirmation: Confirmation of the recommended person's identity and how long you've known them

6. Professional/Financial Standing: Information about the person's professional status, financial reliability, and character

7. Contact Offer: Offer to provide additional information if needed

8. Closing: Formal closing, signature block, and professional credentials