��������Ƶ

An Authorization Letter For Opening Bank Account is a crucial document in Philippine banking practices that facilitates the delegation of authority for bank account opening procedures. This document is commonly used when business owners, corporate officers, or individuals cannot personally appear at a bank to open an account, or when organizations need to designate specific representatives for banking matters. The letter must adhere to requirements set by the Bangko Sentral ng Pilipinas (BSP) and local banking regulations, including proper identification of all parties, clear scope of authority, and necessary supporting documentation. It's particularly relevant in corporate settings where companies need to authorize specific individuals to handle banking matters, and for overseas Filipino workers who may need to delegate account opening authority to family members. The document provides banks with the necessary legal assurance while protecting the interests of all parties involved through clear specification of the authorization's scope and limitations.

1. Letter Header: Complete contact information of the principal (authorizing person), including full legal name, address, and contact details

2. Date: Current date when the authorization letter is being executed

3. Bank Details: Full name and address of the bank where the account will be opened

4. Salutation: Formal greeting to the bank manager or appropriate authority

5. Purpose Statement: Clear statement of the letter's purpose - authorizing the named person to open a bank account

6. Authorized Person Details: Complete details of the person being authorized, including full legal name, ID numbers, and relationship to the principal

7. Scope of Authorization: Specific powers being granted regarding the bank account opening process

8. Principal's Information: Relevant details about the principal, including any ID numbers or documentation required by the bank

9. Duration of Authority: Time period for which the authorization is valid

10. Closing Statement: Formal closing confirming the authorization and requesting bank's cooperation

11. Signature Block: Space for principal's signature, printed name, and date