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Authorization Letter To Close Bank Account for Pakistan

Authorization Letter To Close Bank Account Template for Pakistan

A formal written authorization document governed by Pakistani banking laws and regulations, particularly the Banking Companies Ordinance, 1962, and the State Bank of Pakistan Act, 1956. This letter serves as a legal instrument through which an account holder grants specific authority to a designated individual to close their bank account and handle related procedures. The document includes detailed information about the account holder, the authorized person, account details, and specific instructions for the closure process and disposition of remaining funds, all while ensuring compliance with Pakistani banking regulations and anti-money laundering requirements.

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Authorization Letter To Close Bank Account

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What is a Authorization Letter To Close Bank Account?

An Authorization Letter to Close Bank Account is a crucial document used when an account holder cannot personally visit their bank branch in Pakistan to close their account. This situation commonly arises due to travel, illness, residence abroad, or other circumstances preventing physical presence. The letter must comply with Pakistani banking regulations, including the Banking Companies Ordinance, 1962, and various State Bank of Pakistan directives. It typically contains the account holder's details, authorized person's information, specific account details, and clear instructions for account closure and fund disposition. The document serves as legal evidence of the account holder's consent and protects all parties involved in the transaction. Banks in Pakistan may have specific requirements for such authorization letters, including notarization or additional witness signatures, particularly for high-value accounts or non-resident account holders.

What sections should be included in a Authorization Letter To Close Bank Account?

1. Letter Date and Bank Details: Current date and complete details of the bank branch including address

2. Subject Line: Clear indication that this is an authorization letter for bank account closure

3. Salutation: Formal greeting to the bank manager or relevant authority

4. Account Holder Information: Full name, address, and contact details of the account holder

5. Account Details: Complete bank account number and type of account to be closed

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

7. Authorization Statement: Clear statement of authorization granted for closing the account

8. Reason for Closure: Brief explanation of why the account is being closed

9. Remaining Balance Instructions: Clear instructions for handling any remaining balance in the account

10. Closing Statement: Request for prompt processing and appreciation

11. Signature Block: Space for account holder's signature, name, and date

What sections are optional to include in a Authorization Letter To Close Bank Account?

1. Joint Account Holder Details: Include when the account is jointly held, requiring details and signatures of all account holders

2. Overseas Authorization: Additional declarations and contact details when the account holder is authorizing from abroad

3. Special Instructions: Any specific requirements for handling linked services, standing orders, or direct debits

4. Witness Details: When witness verification is required, including names and signatures of witnesses

5. Translation Statement: Required when the letter needs to be in multiple languages for legal compliance

What schedules should be included in a Authorization Letter To Close Bank Account?

1. Identity Verification Documents: Copies of required ID documents for both account holder and authorized person

2. Proof of Address: Recent utility bills or other accepted documents proving current address

3. Bank Account Statement: Recent statement showing account details and status

4. Original Bank Cards: List of ATM/debit cards being surrendered with the account closure

5. Additional Bank Forms: Any specific forms required by the bank for account closure

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Pakistan

Document Type

Letter of Authority

Sector

Banking

Cost

Free to use
Relevant legal definitions




















Clauses















Relevant Industries

Banking

Financial Services

Legal Services

Corporate Services

Business Services

Professional Services

Public Sector

Private Banking

Retail Banking

Commercial Banking

Relevant Teams

Legal

Compliance

Customer Service

Account Management

Operations

Risk Management

Documentation

Branch Operations

Corporate Banking

Retail Banking

Administrative Services

Client Relations

Relevant Roles

Bank Manager

Branch Manager

Account Relationship Manager

Compliance Officer

Legal Counsel

Banking Operations Manager

Customer Service Representative

Financial Advisor

Corporate Secretary

Administrative Officer

Personal Banking Officer

Documentation Specialist

Risk Management Officer

Treasury Manager

Corporate Banking Officer

Industries







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