The Authorization Letter For Withdrawal of Savings is a critical document in Australian banking operations that enables account holders to delegate the authority to withdraw funds from their savings accounts to a trusted representative. This document is commonly used when account holders are unable to perform transactions in person due to travel, illness, physical limitations, or other circumstances. It must comply with Australian banking regulations and state-specific requirements, including proper identification verification under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The letter includes specific details about the authorization scope, validity period, and transaction limits, serving as a legal record of the account holder's intentions and protecting both the account holder's and the bank's interests.

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

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

3. Account Holder Information: Full name, address, and contact details of the account holder granting authorization

4. Authorized Person Details: Full name, address, identification details, and contact information of the person being authorized to make the withdrawal

5. Account Information: Bank account number, type of account, and other relevant account identifiers

6. Authorization Statement: Clear statement of authorization being granted, including the specific powers being delegated

7. Transaction Details: Specific amount authorized for withdrawal or whether it's a one-time or recurring authorization

8. Validity Period: Duration for which the authorization remains valid

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