Translation services for bank statements and financial paperwork

Has your solicitor or an authority asked for certified translations of bank statements and financial paperwork?

“Translating numbers” – is that even a thing?! Yes, most definitely – we regularly translate financial documents ranging from bank statements to inheritance tax papers, capital gains tax forms and tax returns.

Clients often come to us because they want to complete a property transaction and their solicitor has requested the translation of documents. Solicitors are required by law to perform Anti-Money Laundering (AML) checks, and therefore need to review your bank statements and financial paperwork. The certified translation of documents helps solicitors and authorities to quickly process transactions and applications.

Some clients are upset (if not hopping mad!) about their solicitor’s request. Purchasing a property is an expensive process, and buyers are faced with multiple costs. Being asked to pay a translator in order to prove the existence or source of funds is an additional burden. Then, many clients do not understand the need to “translate numbers”!

What does translating financial documents involve?

Translating bank statements and financial documents is not an easy task. Based on our extensive experience in translating bank statements for official and legal purposes, we have highlighted just a few of the issues below. If you’d just like a quick and free quote without reading on, please get in touch here.

Let’s take a quick look at the issues…

Number formatting

The formatting of numbers can vary from country to country. For example, a French or central European document might use:

252 043,52 € which would be presented as €252,043.52 in the UK.

10 025,00 € which would be presented as €10,025.00 in the UK.

Is that a big difference? Unless your solicitor is familiar with the foreign formatting, it will certainly slow down the process of checking the document. Solicitors are paid by the hour, and time is money – your money!

✔️ It is far better to present your legal team with a clear document intended for UK readers.

Page formatting

Can we replicate the page layout?

✔️ Yes, we can. Based on the document, we can recreate the formatting by hand or using software.

✔️ Identical page layout can help you and your solicitors to quickly read the translations.

Recreating the page layout and formatting takes time and skill, and is part of the cost of translating bank statements.

The need for certification

What is a ‘certified’ or ‘official’ translation?

Solicitors usually require certified translations. To certify a translation, the translator will issue a letter of certification (also known as a Statement of Truth or Letter of Attestation), swearing that the translation is a true and accurate translation of the original document. We do not certify that the original document is accurate or authentic. Certified bank statement translations are suitable for official and legal purposes.

✔️ Translation & Secretarial Services can certify documents using a handwritten note, stamp and letter of certification. Certification by an independent translator helps your documents to be accepted by solicitors, banks and institutions because it provides extra credibility.

✔️ For certified translations, we work with a network of official translators who are registered with the Chartered Institute of Linguists (CIOL) and/or the Institute of Translation & Interpreting (ITI).

 

Bank statement abbreviations

Bank statements are full of tricky abbreviations! It’s not for your solicitor to figure these things out otherwise their time would cost you a fortune!

Yes, people can read numbers but good translators bring clarity to descriptions and abbreviations that would not be understood by the average reader.

✔️ Thankfully, Translation & Secretarial Services is familiar with the language used in banking documents which speeds up the process and thus the cost.

Conclusions and handy translation tips

As you will now know, the certified translation of bank statements and financial paperwork can be a complex task. This is why this job should only be entrusted to official and registered translators who are capable of producing professional translations. Privacy is also a hot topic when it comes to handling bank statements and personal information. Translation & Secretarial Services Ltd is a registered company, based in the UK, with good reviews and a solid work profile. Always check who you are dealing with before handing over personal and financial information.

Do you need to translate your bank statements and financial paperwork in order to complete a transaction?

For a free consultation and quote, call today on +44 (0)7954 693 561 or use the forms below. We will be very happy to assist you!

Certified Translation Services for bank statements and financial paperwork by Translation & Secretarial Services Ltd