Document background
The Letter to Bank for Authorised Person is essential when account holders need to delegate banking authority to other individuals while maintaining control and security. This document, governed by English and Welsh law, is commonly used when businesses need multiple signatories, during temporary absences of primary account holders, or when establishing long-term banking arrangements. It must comply with the Banking Act 2009, Money Laundering Regulations 2017, and other relevant financial regulations. The letter explicitly defines the scope of authority, ensuring both the bank and the authorized person understand their rights and limitations.
