Authorization Letter For Bank Withdrawal

Authorization Letter For Bank Withdrawal Template for Singapore

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Key Requirements PROMPT example:

"I need an Authorization Letter For Bank Withdrawal that allows my sister to withdraw up to $5,000 monthly from my DBS account while I'm working overseas in Dubai from January 2025 to December 2025."

Document background

An Authorization Letter For Bank Withdrawal is a crucial document in Singapore's banking system that enables account holders to delegate their withdrawal rights to another person. This document is commonly used when account holders are unable to perform transactions personally due to travel, illness, or other circumstances. It must conform to Singapore's Banking Act and MAS regulations, including specific details about the authorizing party, the authorized person, account details, and withdrawal limitations. The letter serves as a formal instruction to the bank and provides protection for all parties involved in the transaction.

Suggested Sections

1. Date: Current date of the authorization letter

2. Bank Details: Name and address of the bank branch

3. Account Holder Details: Full name, address, and account number of the authorizing person

4. Authorized Person Details: Full name, ID number, and contact details of the person being authorized

5. Authorization Scope: Specific powers being granted and transaction limits

6. Duration: Validity period of the authorization

7. Signature Block: Space for signatures of account holder and witnesses

Optional Sections

1. Special Instructions: Any specific conditions or restrictions on the withdrawal

2. Purpose Statement: Reason for the authorization

3. Emergency Contact: Alternative contact information for long-term authorizations

Suggested Schedules

1. Identity Documents: Copies of ID cards/passports of both parties

2. Specimen Signature: Sample signatures of authorized person

3. Bank Forms: Any specific forms required by the bank

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
Financial Services
Corporate Services
Healthcare

Relevant Teams

Finance
Compliance
Legal
Operations
Customer Service

Relevant Roles

Bank Manager
Financial Controller
Account Manager
Compliance Officer
Personal Banking Officer

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Let's create your Authorization Letter For Bank Withdrawal

Authors

Alex Denne

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