Bank Authorization Form

Bank Authorization Form Template for Switzerland

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Key Requirements PROMPT example:

"I need a Swiss Bank Authorization Form for our tech startup's corporate account, authorizing our CFO and Financial Controller to manage all banking transactions jointly, with specific provisions for digital banking access and a transaction limit of 500,000 CHF per day."

Document background

The Bank Authorization Form is a fundamental document in Swiss banking operations, used when an account holder needs to grant specific banking privileges to other individuals or entities. This form is essential in situations where someone other than the account holder requires authority to conduct banking transactions, whether for personal, business, or legal reasons. The document must comply with strict Swiss banking regulations, including the Swiss Federal Banking Act, data protection laws, and anti-money laundering provisions. It typically includes detailed identification requirements, specific authorizations granted, duration of authority, and necessary declarations. The Bank Authorization Form is particularly important in Switzerland's banking sector, known for its rigorous documentation requirements and emphasis on accuracy and clarity in banking relationships.

Suggested Sections

1. Bank and Account Holder Information: Details of the bank and the account holder(s), including full legal names, addresses, and account numbers

2. Authorized Person Details: Complete information about the person(s) being granted authorization, including full legal name, address, identification details, and relationship to account holder

3. Scope of Authorization: Detailed description of the powers being granted, including specific banking transactions and activities authorized

4. Duration of Authority: Specification of the time period for which the authorization is valid, including start date and expiry date if applicable

5. Declaration and Acknowledgment: Statement confirming the account holder understands the implications of granting this authorization

6. Data Protection Notice: Required information about how personal data will be processed and protected in accordance with Swiss FDPA

7. Signature Requirements: Clear specification of signature blocks for all relevant parties, including witness requirements if applicable

Optional Sections

1. Joint Account Provisions: Additional provisions specific to joint accounts, used when the account has multiple holders

2. Corporate Authorization: Special provisions for corporate accounts, including reference to board resolutions or other corporate approvals

3. Limited Time Authorization: Specific provisions for temporary authorizations with defined end dates

4. Special Instructions: Section for any specific limitations or special instructions regarding the authorization

5. Foreign Language Declaration: Required when the form is provided in multiple languages, confirming which language version prevails

6. Digital Banking Access: Optional section for granting online/digital banking access privileges

Suggested Schedules

1. Identification Documents: Copies of required identification documents for all parties

2. Specimen Signatures: Sample signatures of authorized persons for bank verification

3. Corporate Resolution: For corporate accounts, the board resolution or equivalent authorizing the arrangement

4. Power of Attorney: If authorization is granted via power of attorney, the original or certified copy

5. Bank Specific Terms: Any additional bank-specific terms and conditions that apply to the authorization

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking and Financial Services

Corporate Services

Legal Services

Wealth Management

Private Banking

Retail Banking

Investment Banking

Insurance

Real Estate

Professional Services

Healthcare

Education

Non-Profit Organizations

Manufacturing

Retail

Relevant Teams

Legal

Compliance

Finance

Treasury

Operations

Risk Management

Customer Service

Account Management

Administrative Support

Corporate Secretariat

Private Banking

Wealth Management

Branch Operations

Document Management

Client Onboarding

Relevant Roles

Account Manager

Banking Relationship Manager

Compliance Officer

Legal Counsel

Corporate Secretary

Chief Financial Officer

Financial Controller

Treasury Manager

Operations Manager

Risk Manager

Branch Manager

Private Banker

Wealth Manager

Trust Officer

Administrative Officer

Company Director

Executive Assistant

Power of Attorney Holder

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Authors

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