The Account Authorization Letter is a critical document used in Swiss banking relationships to formally delegate banking authority from an account holder to a designated representative. It is commonly required when account holders need to grant access to their accounts for business operations, personal assistance, or during extended absences. The document must comply with strict Swiss banking regulations, including the Swiss Federal Banking Act and Anti-Money Laundering Act, while adhering to Swiss privacy laws. This authorization letter typically specifies the scope of authority granted, including whether the authorized person can make transactions, access account information, or perform specific banking operations. It's particularly relevant for business continuity planning, wealth management arrangements, and situations requiring delegated financial management under Swiss jurisdiction.
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1. Letter Header: Date, bank's name and address, account holder's details
2. Account Details: Specific account number(s) and types covered by the authorization
3. Authorized Person Information: Full legal name, address, identification details of the person being authorized
4. Scope of Authorization: Specific powers being granted (e.g., viewing accounts, making transactions, requesting statements)
5. Duration of Authority: Validity period of the authorization, including start date and end date if applicable
6. Account Holder Declaration: Statement confirming the voluntary nature of the authorization and understanding of its implications
7. Signature Block: Space for account holder's signature, date, and any required witness signatures
1. Transaction Limits: Specific monetary limits on transactions the authorized person can perform, if any restrictions are desired
2. Special Instructions: Any specific conditions or restrictions on the authorization
3. Revocation Process: Specific terms for how the authorization can be revoked, if different from standard bank procedures
4. Multiple Account Holders: Additional signature sections when the account has multiple holders who must authorize
5. Digital Access Authorization: Specific permissions for online banking access and digital services
1. Identification Documents: Copies of required identification documents for both account holder and authorized person
2. Bank's Authorization Form: Standard bank forms that need to be completed alongside the letter
3. Signature Specimen: Official signature specimen of the authorized person
4. Power of Attorney Verification: If applicable, any additional power of attorney documentation required by the bank
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Corporate Services
Legal Services
Private Wealth Management
Real Estate
Healthcare
Education
Non-Profit Organizations
Retail
Professional Services
Family Office Services
Relevant Teams
Legal
Compliance
Finance
Treasury
Operations
Risk Management
Client Services
Wealth Management
Corporate Secretariat
Account Management
Administrative Services
Relevant Roles
Financial Manager
Account Manager
Legal Counsel
Compliance Officer
Private Banker
Wealth Manager
Corporate Secretary
Chief Financial Officer
Treasury Manager
Business Administrator
Power of Attorney Holder
Trust Officer
Client Relationship Manager
Risk Manager
Operations Manager
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