Document background
The Account Authorization Letter is essential in Singapore's banking sector when account holders need to delegate banking authority to other individuals. This document is commonly used when business owners authorize employees, when individuals grant family members access to accounts, or when corporate entities designate specific officers for banking operations. The letter must adhere to Singapore's strict banking regulations and typically includes detailed information about the account holder, authorized person, scope of authority, and duration of authorization. It serves as a legal record of the delegation of banking authority and helps financial institutions maintain proper controls and documentation.
