Document background
The Bank Account Authorization Letter is a crucial document in Singapore's banking system, used when an account holder needs to delegate banking authority to another person. This document is commonly required when business owners need to authorize employees to handle banking transactions, when individuals are traveling abroad, or during periods of extended absence. The Authorization Letter Bank Account must include specific details required by Singapore banking regulations, such as clear identification of all parties, scope of authority, duration, and any applicable limitations. It serves as a protective mechanism for all parties involved while ensuring compliance with Singapore's banking laws and MAS guidelines.
