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The Authorization Letter To Claim Money In Bank is a crucial document in Philippine banking that enables account holders to delegate banking transaction authority to trusted representatives. This document becomes necessary in various situations, such as when account holders are unable to personally conduct banking transactions due to illness, overseas travel, or other constraints. It must comply with Philippine banking regulations, including the General Banking Law of 2000 and BSP guidelines, and typically requires notarization for validity. The letter includes comprehensive details about the principal, the authorized representative, specific transaction authorities granted, validity period, and any applicable limitations. Banks in the Philippines generally require this document to be recently executed (usually within 3-6 months) and may have additional specific requirements depending on their internal policies.

1. Date and Place: Current date and location where the letter is being executed

2. Bank Details: Complete name and branch address of the bank where the money will be claimed

3. Principal's Information: Full name, address, valid ID numbers, and contact details of the account holder giving authorization

4. Attorney-in-Fact Information: Full name, address, valid ID numbers, and contact details of the person being authorized to claim the money

5. Account Details: Bank account number and type (while maintaining security by not including full details in authorization)

6. Authorization Statement: Clear and specific statement of the powers being granted, including the exact nature of the transaction authorized

7. Transaction Limits: Specific amount authorized for withdrawal or statement if full account access is granted

8. Duration of Authority: Validity period of the authorization letter

9. Signature Block: Space for principal's signature, with name printed below

10. Witnesses: Space for witness signatures as required by Philippine banking practices