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Authority Letter For Bank Statement Template for Singapore

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Key Requirements PROMPT example:

Authority Letter For Bank Statement

"I need an Authority Letter for Bank Statement for my Singapore DBS account, authorizing my accountant to collect monthly statements for January-March 2025, as required for my company's audit."

Document background
An Authority Letter for Bank Statement is commonly required when individuals or organizations need to formally request access to their banking information in Singapore. This document is essential for various purposes such as visa applications, audit requirements, or financial verification processes. The letter must adhere to Singapore's banking regulations and typically includes account details, the specific period for which statements are requested, and clear authorization language. It's designed to protect both the account holder's interests and the bank's compliance requirements under Singapore law.
Suggested Sections

1. Date and Location: Current date and place of execution of the authority letter

2. Bank Details: Name and complete address of the bank branch to which the letter is addressed

3. Account Holder Information: Full name, account number, and identification details of the account holder

4. Authorization Statement: Clear and unambiguous statement of the authority being granted to the bank

5. Purpose: Specific reason for requesting the bank statements

6. Statement Period: Time period for which the bank statements are being requested

Optional Sections

1. Third Party Authorization: Authorization details when allowing another person to collect statements on behalf of the account holder

2. Delivery Instructions: Specific instructions regarding how and where the bank statements should be delivered

3. Urgency Declaration: Statement declaring urgency if expedited processing is required

Suggested Schedules

1. Identification Documents: Copies of relevant identification documents of the account holder

2. Third Party Identification: Copies of identification documents of the authorized third party (if applicable)

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


















Clauses















Industries

Banking Act (Cap. 19): Primary legislation governing banking operations in Singapore, with key focus on Section 47 regarding bank secrecy and customer information disclosure requirements

Personal Data Protection Act 2012 (PDPA): Legislation governing the collection, use, and disclosure of personal data, including consent requirements and data protection obligations

MAS Guidelines: Regulatory guidelines issued by Monetary Authority of Singapore covering banking secrecy, technology risk management, and outsourcing requirements

Electronic Transactions Act (Cap. 88): Legislation governing electronic transactions, including legal recognition of electronic signatures and requirements for electronic records

Evidence Act (Cap. 97): Legislation regarding authentication of documents and admissibility of electronic records in legal proceedings

AML/CFT Regulations: Anti-Money Laundering and Countering the Financing of Terrorism regulations that may affect bank statement disclosure

KYC Requirements: Know Your Customer requirements that banks must follow when processing requests for customer information

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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