⚠️ Do not ignore your bank's Source of Funds request. Respond before their deadline — get expert help today →

Source of Funds Request

Your Bank Has Sent a Source of Funds Letter. Here's What It Means.

A Source of Funds request doesn't mean your bank suspects you of wrongdoing. It means they have a legal obligation to understand where your money came from — and they need you to prove it in writing.

Book Free Consultation → 📞 0161 706 0333

What Is a Source of Funds Request?

A Source of Funds (SOF) request is a formal compliance enquiry from your bank. Under the UK's Anti-Money Laundering regulations, banks are legally required to understand the origin of funds flowing through your account — particularly large or unusual amounts.

Your bank is not accusing you of anything. They are fulfilling a legal obligation. However, how you respond will determine whether your account is cleared, restricted, or closed. An incomplete or poorly structured response almost always results in further questions — and more delay.

📋 Your bank will have set a response deadline. Missing this deadline — or providing an inadequate response — can lead to your account being restricted or closed without further notice.

Common situations that trigger a Source of Funds request include:

What Documents Does Your Bank Actually Want?

Banks don't just want a letter explaining where your money came from. They want evidence — documents that can be verified, cross-referenced and retained on file for regulatory purposes.

For property sales

  • Solicitor's completion statement
  • Land Registry title showing you as owner
  • Bank statement showing the sale proceeds arriving
  • Estate agent correspondence if required

For inheritance or gifts

  • Grant of probate or letters of administration
  • Solicitor correspondence confirming the inheritance
  • Donor's bank statement showing the gift leaving their account
  • Signed gift letter if applicable

For business income

  • Business bank statements and accounts
  • Dividend vouchers or director's loan agreement
  • HMRC self-assessment tax return
  • Signed accountant's letter if relevant

For cryptocurrency

  • Exchange account statements showing trades
  • Withdrawal records to your bank account
  • Original purchase evidence (fiat investment records)
  • Tax records or HMRC disclosure if applicable

Common Mistakes People Make When Responding

Most people who respond to Source of Funds requests without professional guidance make at least one of these errors — and it costs them weeks of additional delays.

Incomplete documentation

Providing documents that only partially explain the funds — banks need the full chain of evidence, not just part of it.

No written narrative

Sending documents without a structured explanation. Compliance teams need context, not just paperwork.

Informal or emotional tone

Writing as if you're complaining to customer service. Compliance responses must be professional and factual.

Missing the deadline

Underestimating how quickly banks act. Many restrict accounts immediately after the deadline passes.

Ignoring parts of the request

Only addressing one of multiple questions the bank asked. Every point must be answered fully.

Sending unverifiable documents

Providing informal letters or self-created spreadsheets instead of official, verifiable documentation.

How KYCifi Prepares Your Bank-Ready Response

We handle your Source of Funds response from start to finish. As former compliance professionals, we know exactly what your bank's team is looking for — and we structure your response to meet those standards precisely.

Our fees start from £99 for individual cases. All fees are fixed and agreed before any work begins — no surprises.

Get Expert Help

Book a Free Consultation — We'll Tell You Exactly What Your Bank Needs

15 minutes. No cost. No commitment. We review your bank's letter and give you a clear action plan.

Book Free Consultation → 📞 0161 706 0333

Services from £99  ·  Fixed fees  ·  Strictly confidential