A financial account authorization letter is a letter that can play a significant role in assigning financial authority to some other person. You can use this authorization letter when you are unable to act on your own financial affairs. Here in the article, we are going to discuss more the implication and methods to draft this authorization letter.
Authorization letters are very useful in today’s time when people often become unable to act on their own. The authorization letter appoints some other person to act on the behalf of such person. The appointed person can act on behalf and on the affairs of the other person for the time being. This is why the authorization letters prove to be win-win scenarios letters for the people at the time of dire need.
Financial Account Authorization Letter
A financial account in easy words is the financial affair of an individual. It may include the real estate, bank account, or other properties of the individuals. The authorization letter for the financial account implies the financial authority of such individuals. People do sign this authorization letter for convenience and due to a couple of reasons.
For instance, when an individual is away then such individual can appoint or assign the other person on his financial estate of affairs.
In a similar manner, serious illness can be the other significant reason for this authorization. The authorization letters come to the convenience and benefits of the individuals. You can also use the benefits of the authorization letter for yourself if you execute it lawfully. At times the authorization letters also go wrong when people take undue advantage of them.
So, this is why we highly urge you to choose a trustworthy person for this financial account authorization letter. We believe there is always a loophole to the authorizations and we, therefore, urge our readers to act accordingly before signing the authorization letter.
How to Write Financial Authorization Letter
Well, there is no rocket science in writing the financial account authorization letter as you have to follow some very basic aspects. If you are feeling confused as to how you should draft this letter then we are here for your assistance.
Here below we are dropping down some simple points to draft this authorization letter without any effort.
- First of all, you need to have the legal and statutory template for this financial authorization letter.
- Draft the legal format of the letter and give it the required opening.
- Now come to the main body of the letter and introduce yourself there with the motive of the authorization.
- Next, introduce the other person to whom you want to appoint the financial authority.
- Explain the reason for this authorization to make it very clear to the authorities.
- Mention the period or duration of this authorization in very clear and straightforward words.
- You can also set the legal rights for the person appointed that can be exercised by the person.
- At last, simply end the letter by attaching the other terms and conditions of this authorization in the closure.
- In the end, you need to put your official signature so as to grant the legal acceptance to this authorization with this letter.
We hope the above-mentioned points will guide you in drafting the legitimate financial account authorization letter in an easy way.
Sample of Financial Account Letter of Authorization
Well, there is the famous saying that a picture is worth more than a thousand words. We also believe in the same saying and therefore here we are attaching the sample of this authorization letter. Our readers can have a look at the sample letter and get a fair idea of the letter.
7654 Main Street
Malibu Point, California 980872
February 25, 2019Mr. Adam Fisher
Manager at HSBC Bank
Los Angeles, California 980872Dear Mr. Adam Fisher
I’m Kelley Grey the current account holder at the HSBC bank and a loyal customer of the bank for the last 20 years. I’m writing this authorization letter to authorize my husband Mr. Charles Grey to act on my behalf concerning all the transactions on my account. I’m currently out of the country for some professional work and can’t act on my account for quite a long time from here. This is why I’m going for this authorization so that my husband can execute some significant transactions on my account on my behalf.
I have mentioned the period of this authorization in the other details of the letter that you can check. Furthermore, I grant my husband to take all the rights on all kinds of transactions on my account for the time being. Kindly consider this letter in legal regard to executing this authorization in due time. If you have further inquiries on the same then you can reach me on my official contacts.
Thanks & regards
So, this is the official sample for the authorization letter of financial account for all our readers. We believe the letter will work as the reference source to assist all our readers in the same purpose.