Writing an Authorization Letter to Bank Manager (with Sample) Use this sample authorization letter to bank manager as a template for your formal authorization letter. Last updated on January 18th, 2019
There are three parties involved in a letter of authorization including the first party, the person granting authority, the second party, the hospital, bank or school involved in the transaction and the third party, the person receiving the authority.
The letter is written by the first party to the second party and explains the rights being given to the third party. The third party can be an individual or corporation or other entity. If the second party is not known in the case of an emergency-action letter of authorization, the letter can be addressed To Whom It May Concern.
The letter spells out the specific task that has been assigned to the third party. This can be just about anything, but is usually things like negotiating a contract, taking out a loan in the first party’s name or accessing the first party’s bank account.
According to the law, the third party’s actions are binding for the first party. The first party is responsible for anything the third party does while under his or her authorization. For this reason, letters of authorization should not be taken lightly especially if they are financial in nature.
There are important differences between a letter of authorization and a power of attorney. With authorization, the specific actions are carried out for a specified time. With power of attorney, the agent can continue to act for the first person in any capacity until the first person revokes the power of attorney.
This is done through a written and signed revocation that is sent to the person with the power of attorney and anyone else who knows the agent had power of attorney. In either case, if the first person dies, the power and authorization becomes void.
The letter should include all of the necessary information. For medical records, it should include file number, insurance number and claim information. If it is legal information, the case number should be included and for financial matters the bank account needs to be included.
In most cases the authorized person is a friend or family member and is not paid for his or her help. If the third person is to be paid, it must be clearly stated in the letter. Letters of authorization are rarely notarized.
The letter should be short and precise. If it has excess information, there may be more than one way to interpret it, which could cause confusion. The letter should contain:
• The beginning and ending dates of the authorization • The reason the authorization is being granted • The duties of the authorized person
Here are sample authorization letters to bank managers. It should be typed in formal business style. Since it is an important document, it shouldn’t be hand written. It should follow legal guidelines, so if it is disputed, it will stand up in court. It should be sent by certified mail to both the second and third party, so each party has proof of when it was sent and received.
Sample Authorization Letter to Bank Manager First Party’s Name First Party’s Address City, State, Zip Code
Second Party’s Name Name of Bank Second Party’s Address City, State, Zip Code
Dear Second Party’s Name:
I am writing regarding my account number 305610 that I have with your institution. I have had this account for several years and have enjoyed being a member of this fine bank. I am having some health issues and will have to undergo a major medical procedure. I need to ask that Name of Third Party be appointed representative over my account during my medical downtime.
Please allow Lisa to make deposits, withdraw cash, purchase money orders or cashier’s checks and to have full access to my account. I also have 2 safety deposit boxes with your bank, but she doesn’t need access to those at this time.
Should I not make it through the surgical procedures, my will allows her access to these boxes. This authorization should be granted from today, DATE until DATE unless otherwise notified.
I appoint Name of Third Party to handle my banking. You can reach me on my cell phone at 555-123-7845 if you have any questions. I look forward to continuing my services with you banking institution.
First Party’s Signature First Party’s Printed Name