A transmit a payment letter is written to a service provider to whom a payment is made and needs to be notified that the payment is made. It is generally written to get a receipt and confirmation that the payment has reached the service provider or vendor and the transaction is complete. Also, it is written so as to communicate the will to continue or discontinue the service.
There should be a timeline fixed and prior agreed upon by both the parties for the new contract to be agreed upon or extending the existing contract. A transmit a payment letter also serves as a record of attempts made to discuss further the prospective continuation of the contract with same or new terms. It, therefore, needs to clearly convey the intention of discontinuation or continuation along with the details of the new contract or the extension of the existing one. Amount as well as the time needs to be clearly mentioned. Also, the timelines allowed to pay needs to be clearly mentioned so as to avoid defaulting. End the letter by thanking the recipient for the valuable services provided.
Table of Contents
Transmit a Payment Letter Writing Tips
- Keep the language formal.
- Get straight to the point.
- The details need to be communicated clearly.
- The letter should have a clear reference to the continuation or discontinuation of the existing contract.
- Thank the receiver at the end of the letter for his/her cooperation and service.
Transmit a Payment Letter Template
Use our free Transmit a Payment Letter to help you get started. If you need additional help or more examples check out some of the sample letters below.
From,
__________ (Name of the sender),
__________
__________
__________ (Address)
Date: _____ (Date on Which Letter is Written)
To,
__________ (Name of the receiver),
__________
__________
__________ (Address)
Subject: Transmit a Payment Letter
Dear Mr. /Mrs. /Ms. _____ (Name of the person),
This is with reference to my payment made towards the __________ (loan name), that I had taken on __________ (Date), to your Bank, __________ (Name of the bank). The date of last payment made was __________ (date of payment). As the service by your bank has been class apart, I would like to continue the loan with your bank only. Kindly get in touch with me at the earliest to discuss the new terms.
Thank you for your cooperation.
Yours Sincerely,
__________ (Name of the sender)
Sample Letter
From,
Ms. Shrenu Rao,
Lakshmi Villa,
Pant Nagar.
Delhi-587738.
Date: 17.2.17.
To,
Mr. Ratnakant G,
Associate Manager,
Advances department,
Deutsche Bank,
Pant Nagar,
Delhi-587738.
Subject: Transmit a Payment Letter
Dear Mr. Ratnakant,
This is with reference to my payment made towards the Education loan that I had taken on 12.7.2016, to your Bank, Deutsche Bank. The date of last payment made was 15.2.2017. I would like to go for another loan from you for the education of my younger son. As the service by your bank has been class apart, I would like to continue the loan with your bank only. I will keep all the necessary documents ready. I would like to be a co-borrower for this loan. I wish to keep the span of the loan for 7 years as allowed in your circular for the loan.
It would be great to start the loan by the end of this month latest, as the course will start next month. Kindly get in touch with me at the earliest to discuss the new terms. I will look forward to your further communication on the same.
Thank you for your cooperation.
Yours Sincerely,
Shrenu.
Email Format
The following is a sample letter for a Transmit a Payment Letter in email format
To: name@email.com
From: name@email.com
Subject: Transmit a Payment Letter
Dear Mr. /Mrs. /Ms. _____ (Name of the person),
This is with reference to my payment made towards the __________ (loan name), that I had taken on __________ (Date), to your Bank, __________ (Name of the bank). The date of last payment made was __________ (date of payment). As the service by your bank has been class apart, I would like to continue the loan with your bank only. Kindly get in touch with me at the earliest to discuss the new terms.
Thank you for your cooperation.
Best Regards,
__________ (Name of the sender)