Document background
The Authorization Letter for Card Giving Permission is a crucial document in Singapore's financial landscape, designed to facilitate secure and legally-compliant card sharing arrangements. This document becomes necessary when a card owner needs to authorize another person to use their payment card, whether for personal, business, or emergency purposes. The letter must comply with Singapore's strict financial regulations, including the Banking Act and Payment Services Act, and typically includes the identities of both parties, card details, scope of authorization, and duration of permission. It serves as a protective measure for all parties involved and is often required by financial institutions to process authorized transactions.
