The Authorization Letter for Money Withdrawal is a critical document used when an account holder needs to delegate the authority to withdraw funds to another person in Singapore. This might be necessary during extended travel, illness, or business arrangements. The document must align with Singapore banking regulations and typically includes the account holder's details, authorized person's information, specific withdrawal limits, and validity period. It serves as a protective measure for all parties involved and helps maintain clear documentation for audit purposes. The letter must comply with MAS guidelines and may require additional verification depending on the bank's policies.
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1. Date: Current date of the authorization
2. Account Holder Details: Full name, ID/passport number, account number, bank details
3. Authorized Person Details: Full name, ID/passport number, contact information
4. Authorization Scope: Specific powers being granted, including withdrawal limits
5. Duration: Validity period of the authorization
6. Signatures: Account holder's signature and date
1. Witness Details: Required if bank policy demands witness verification
2. Notarization: Required for high-value transactions or specific bank requirements
3. Special Instructions: Any specific conditions or restrictions on withdrawals
1. Identity Documents: Copies of account holder and authorized person's identification
2. Bank Account Details: Recent bank statement or account information
3. Power of Attorney: If authorization is part of broader power of attorney arrangement
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