Authorization Letter For ATM Card Collection for Singapore

Authorization Letter For ATM Card Collection Template for Singapore

An Authorization Letter for ATM Card Collection is a formal document used in Singapore that enables a designated person to collect an ATM card on behalf of the account holder. The document must comply with Singapore's Banking Act and MAS guidelines, containing specific details about both the authorizer and the authorized person, including their identification information, the purpose of authorization, and the validity period. This document serves as a legal authorization recognized by Singapore banks for third-party ATM card collection.

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What is a Authorization Letter For ATM Card Collection?

The Authorization Letter For ATM Card Collection is a crucial document used when account holders in Singapore are unable to personally collect their ATM cards from their banks. This document is required by Singapore banks to ensure secure and authorized card collection by a third party. It includes essential details such as the account holder's information, authorized person's details, bank account specifics, and authorization period. The letter must comply with Singapore banking regulations, including MAS guidelines and the Banking Act, to ensure secure banking practices and prevent unauthorized access to banking instruments.

What sections should be included in a Authorization Letter For ATM Card Collection?

1. Date: Current date of the authorization letter

2. Bank Details: Name and branch of the bank where the ATM card is to be collected

3. Authorizer Information: Full name, NRIC/passport number, contact details, and account number of the card owner

4. Authorized Person Information: Full name, NRIC/passport number, and contact details of the person authorized to collect

5. Authorization Statement: Clear statement of authorization for ATM card collection

6. Validity Period: Duration for which the authorization is valid

7. Signatures: Signature of the authorizer with date

What sections are optional to include in a Authorization Letter For ATM Card Collection?

1. Reason for Authorization: Explanation why the card owner cannot collect personally - used when the bank requires justification for third-party collection

2. Witness Details: Name and signature of witness - used when bank policy requires witness verification

What schedules should be included in a Authorization Letter For ATM Card Collection?

1. Required Identification Documents: List of required documents for both authorizer and authorized person

2. Bank's Terms and Conditions: Standard terms for third-party ATM card collection

Authors

Alex Denne

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

Jurisdiction

Singapore

Publisher

Genie AI

Document Type

Letter of Authority

Sector

Banking

Cost

Free to use
Industries

Banking Act (Chapter 19): Primary legislation governing banking operations and services in Singapore, including provisions for banking security and customer protection

Personal Data Protection Act (PDPA): Singapore's data protection law that regulates the collection, use, and disclosure of personal data in authorization documents

MAS Electronic Banking Guidelines: Regulatory guidelines issued by Monetary Authority of Singapore specifically for electronic banking services and security

MAS Technology Risk Management Guidelines: Guidelines covering technology risks and security measures in banking operations

MAS Notice PSN02: Specific notice on Prevention of Money Laundering and Countering the Financing of Terrorism that affects banking transactions and authorizations

ABS Industry Guidelines: Association of Banks in Singapore guidelines establishing industry standards for banking practices and security protocols for ATM card issuance and collection

Identification Requirements: Legal requirements for clear identification of both authorizer and authorized person in the authorization document

Authorization Period Specifications: Legal requirements for specifying valid period of authorization in banking documents

Verification Rights: Legal provisions establishing the bank's right to verify the authorization and identity of parties involved

Data Protection Clauses: Required clauses for protection of personal data in banking authorization documents as per PDPA requirements

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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