Document background
The Letter To Add Signatory To Bank Account is a crucial document used when an organization or individual needs to authorize additional persons to operate a bank account in Singapore. This document is particularly relevant when companies undergo management changes, require operational flexibility, or need to delegate financial authority. The letter must comply with Singapore's Banking Act, MAS regulations, and AML/CFT requirements. It typically includes detailed information about the account holder, the new signatory's credentials, and the scope of authority being granted. The document serves as a formal record of the authorization and forms part of the bank's compliance documentation.
