Document background
An Authorization Letter To Close Bank Account is a crucial document in Singapore's banking system, required when an account holder wishes to formally terminate their banking relationship. This document is particularly necessary when the account holder cannot personally visit the bank or when delegating the closure authority to another person. It must conform to Singapore's Banking Act, MAS regulations, and individual bank policies. The letter typically includes account details, holder information, closure instructions, and fund transfer directions. It serves as legal protection for both the bank and account holder, ensuring proper documentation of the closure request.
