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Authorization Letter For Withdrawal Template for Hong Kong

A legal document governed by Hong Kong law that formally authorizes a designated individual to withdraw funds from a specified bank account on behalf of the account holder. The document must comply with the Hong Kong Banking Ordinance and Powers of Attorney Ordinance, including specific requirements for identification, verification, and documentation. It serves as a legally binding instruction to the bank and typically includes detailed information about all parties involved, the scope of authorization, and any applicable conditions or limitations.

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What is a Authorization Letter For Withdrawal?

An Authorization Letter For Withdrawal is a crucial document in Hong Kong's banking system that enables account holders to delegate their withdrawal rights to a trusted representative. This document is commonly used when account holders are unable to perform transactions in person due to travel, illness, or other circumstances. It must comply with Hong Kong banking regulations and typically requires specific information including the account holder's details, authorized person's information, account numbers, and withdrawal limits. The letter serves as a formal instruction to the bank and may be subject to additional requirements such as witnessing or notarization depending on the amount involved or the bank's specific policies. Financial institutions in Hong Kong generally require original copies of these authorization letters along with proper identification documents from both parties.

What sections should be included in a Authorization Letter For Withdrawal?

1. Date and Place: Current date and location where the letter is executed

2. Bank Details: Full name and address of the bank branch where the account is held

3. Account Holder Information: Full name, ID/passport number, and contact details of the account holder

4. Authorized Person Information: Full name, ID/passport number, and contact details of the person being authorized to make the withdrawal

5. Account Information: Bank account number and type of account from which withdrawal is to be made

6. Authorization Statement: Clear statement of authorization including the scope of authority being granted

7. Withdrawal Details: Specific amount authorized for withdrawal or maximum limit if applicable

8. Signature Block: Space for account holder's signature, witness signature if required, and date of signing

What sections are optional to include in a Authorization Letter For Withdrawal?

1. Time Limitation: Include when the authorization is only valid for a specific time period

2. Purpose Statement: Include when the purpose of withdrawal needs to be specified for bank records or regulatory compliance

3. Special Instructions: Include when there are specific conditions or instructions for the withdrawal

4. Alternative Authorized Person: Include when a backup authorized person needs to be designated

5. Emergency Contact: Include when additional contact information is needed for verification purposes

What schedules should be included in a Authorization Letter For Withdrawal?

1. Identity Documents: Copies of account holder's and authorized person's identification documents

2. Specimen Signature: Sample signatures of account holder and authorized person

3. Proof of Address: Recent proof of address for both parties if required by the bank

4. Bank Account Statement: Recent bank statement showing the account holder's name and account number

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Hong Kong

Publisher

Ƶ

Document Type

Authorization Form

Cost

Free to use

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