The Authorization Letter For Withdrawal Of Savings is a critical banking document used in Malta when an account holder needs to authorize another person to withdraw funds from their savings account. This document is particularly relevant when the account holder is unable to perform the withdrawal personally due to various circumstances such as being abroad, physical inability, or other constraints. The letter must comply with Malta's Banking Act and Financial Services regulations, including anti-money laundering requirements. It contains specific details about the authorization scope, transaction limits, validity period, and clear identification of all parties involved. The document serves as a legal protection for both the bank and the account holder, ensuring secure and authorized access to funds while maintaining compliance with Maltese and EU banking regulations.
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1. Date and Place: Current date and location where the letter is being written
2. Bank Details: Full name and address of the bank branch where the account is held
3. Account Holder Information: Full name, address, and contact details of the account holder
4. Account Information: Savings account number and type of account
5. Authorized Person Details: Full name, ID/passport number, and contact information of the person being authorized to make the withdrawal
6. Authorization Statement: Clear statement of the authorization being granted, including the scope of authority
7. Transaction Details: Specific details about the authorized withdrawal, including maximum amount if applicable
8. Validity Period: Duration for which the authorization is valid
9. Account Holder's Signature: Space for account holder's signature with name printed below
10. Witness Section: Space for witness signature, name, and details as required by bank policy
1. Purpose of Withdrawal: To be included when the bank requires explanation of the withdrawal purpose or when the account holder wants to specify allowed uses of the funds
2. Multiple Withdrawal Authorization: To be included when authorizing multiple withdrawals over a period rather than a single transaction
3. Special Instructions: To be included when there are specific conditions or restrictions on the withdrawal
4. Emergency Contact: To be included when the account holder wants to provide additional contact information for verification
5. Joint Account Holder Details: To be included when the account is jointly held and requires both holders' authorization
1. Identification Documents: Copies of valid ID/passport of both account holder and authorized person
2. Proof of Address: Recent utility bill or other accepted document proving address of account holder
3. Bank Account Statement: Recent bank statement showing account details and holder name
4. Specimen Signature Card: Copy of account holder's specimen signature as registered with the bank
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