Financial translations are very important in a variety of industries. Financial institutions in the United States often need to translate important documents in order to be able to use them internally. Translated documents can serve as variety of purposes, including translations for loans, translations for opening accounts, translations for incorporating corporations and more. Any document submitted to a bank in a foreign language must be translated to English and certified in order to be made valid. In this article, we will explore common financial translations and what a financial translation entails.
Financial translations require a specific skillset to ensure the terminology is translated correctly. Additionally, numbers may need to be localized, which is very important. For example, in Spanish, one thousand may be written as 1.000 or 1 000, but in English, one thousand is written as 1,000. The proper localization of numbers is key in order for the bank to analyze the figures. Correctly translating terminology is also key to translating financial statements, translating corporate documents, translating articles of incorporation and more. Each country may have specific types of accounts, corporation types, etc. that may not easily translate to English. This is why a skilled translator is necessary to ensure the translations are correct.
Financial institutions such as banks, credit unions and mortgage lenders frequently require translated documents. Most often, the translations must be certified to ensure they are valid for use in the United States. Some common financial translations include bank account statement translations, articles of incorporation translations, tax return translations, audit translations, regulatory translations, BSA/AML translations. For any assistance with financial translations, please contact us.