authorization letter bank

Authorization Letter Bank

How to write a Letter to authorize bank transactions? Check out these tips ,tricks, sample Bank Authorization letter to perform transaction directly.

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Overview

Suppose you need to arrange some payments at the bank, but you are not available to do it yourself in person. In this case, you can choose to assign the task for performing bank transactions to someone whom you trust, like a family member or a colleague. However, keep in mind the bank might not be willing to easily do those transactions. An authorization letter for bank transactions is a letter in which you officially assign someone else responsible for such a task. This letter includes the permission of making some other person liable for doing your bank transactions for a certain amount of time. The person responsible for the assigned duties must keep this authorization letter with him while performing the assigned duty.

How to write a letter to authorize bank transaction(s)? (Tips, tricks, sample)

Below are mentioned some important points which you can follow while writing an authorization letter. Follow these points to produce the best authorization letter:

  • Keep the letter precise and short: try to keep your compact and precise. Because the longer the letter, the more it will contain information. The more the information the more meanings can be interpreted from those long paragraphs. That is why it is always advised to write a short and precise authorization letter. In this way, you can avoid misconceptions that could result in a detailed letter.
  • Specify the duties of the responsible person: In writing an authorization letter, make sure you write about very specific and unambiguous duties which you are going to grant to another person. You always should prefer writing the duties in the first paragraph of the authorization letter. no matter what your letter is about, either it is some bank-related work, or granting another person to sell a precious thing of yours. You always must write in a specific manner about the level of authority you are giving to another person.
  • Provide time duration/dates of authorization: Always remember to write about the duration of authorization of your grant to another person. Write about the start and end date of this authorization. In this way, a lot of issues and misconceptions can be avoided.
  • Provide proper reason for authorization: In writing such a letter, you must provide specific reasons for authorization. A properly detailed explanation is always preferred to avoid any sort of ambiguities. The reason can be different like if you are ill if you are abroad and there can be many more.
  • Write if there are some sort of restrictions: There can be some conditions or certain areas about which you do not want to provide authorization to the person. You may want to be cautious and write about these areas where you do not grant permission to the person who you are authorizing.
End the letter with a proper conclusion:

Here you need to end the letter with proper formal words. Make a conclusion with proper wording like “Yours sincerely”. Make sure to leave some space at the end of your signature. You can add the signature printing the letter or maybe scan your signature and insert them in the document.

Samples of Bank Authorization letter to perform transaction:

Bank authorization letters are those letters in which you grant someone else for your bank related tasks. These duties may be of money withdrawal, bank statement responsible, signing for the bank work, or collecting the checkbook from the bank. In order to grant someone such a risky duty, it's necessary for you to write an authorization letter. Below is attached a sample authorization letter which you can use after a few edits.

Dear Sir/Madam {{Name}},

I, {{your name}}, hereby authorize {{authorized person name}} to act on my behalf in transactions related to my bank account number {{bank account number}} with {{Bank Name}} including {{withdrawals, deposits, loan settlements, etc.…}} but excluding {{fixed deposits, etc.…}} starting from {{start date}} till {{end date or empty}}.

{{Authorized person name}} may sign all necessary documents and perform corresponding actions within the scope described in this letter.

The authorized person’s identity proof details and signature are provided below for your reference and verification purposes.

Authorized Person: {{name}}

Identity Document: {{Passport}}

Identity Document Number: {{ID number}}

Authorized Person’s Signature:

Authorized Transactions: {{withdrawals, deposits, loan settlements, etc}}

Unauthorized Transactions: {{fixed deposits, etc}}

Start Date: {{start date}}

End Date: {{end date}}

Yours sincerely,

Download this Authorization Letter Bank right away and use it after just a few amendments in the bracketed area. If you don't find this letter helpful, then head on to our website for more useful letters.

Other Authorization letter samples:


The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained this site constitutes a solicitation, recommendation, endorsement, or offer by Bizzlibrary or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.


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