If you have a joint account with someone and need to grant them authorization to perform certain actions on your behalf, such as withdrawing money or making deposits, an authorization letter can be a helpful solution. Here, we’ll provide you with an authorization letter template for joint account that you can use and modify as needed.
Before we get into the details of the authorization letter template for joint account, let’s start by explaining what this letter is and why you might need it.
Tips for Writing an Authorization Letter Template for Joint Account
If you’re looking to create an authorization letter template for joint account, there are a few key things to keep in mind:
- Be clear and concise in your language
- Include all relevant information, such as the account holder names and account number
- Make sure the letter is signed and dated
- Provide examples that readers can use and modify as needed
Examples of Authorization Letter Template for Joint Account
Withdrawing Funds from Joint Account
Greeting:
Dear [Bank Name] Manager,
Letter Body:
I, [Your Name], hereby authorize [Joint Account Holder Name] to withdraw funds from our joint account at [Bank Name]. The account number is [Account Number]. This authorization is effective immediately and will remain in effect until further notice.
Complimentary Close:
Sincerely,
[Your Name]
Making Deposits to Joint Account
Greeting:
To Whom It May Concern,
Letter Body:
I, [Your Name], hereby authorize [Joint Account Holder Name] to make deposits to our joint account at [Bank Name]. The account number is [Account Number]. This authorization is effective immediately and will remain in effect until further notice.
Complimentary Close:
Best regards,
[Your Name]
Closing Joint Account
Greeting:
Dear [Bank Name] Manager,
Letter Body:
I, [Your Name], hereby authorize [Joint Account Holder Name] to close our joint account at [Bank Name]. The account number is [Account Number]. This authorization is effective immediately and will remain in effect until the account is closed.
Complimentary Close:
Respectfully,
[Your Name]
Adding Joint Account Holder
Greeting:
To Whom It May Concern,
Letter Body:
I, [Your Name], hereby authorize [Joint Account Holder Name] to be added as a joint account holder to our account at [Bank Name]. The account number is [Account Number]. This authorization is effective immediately and will remain in effect until further notice.
Complimentary Close:
Regards,
[Your Name]
Changing Signatories on Joint Account
Greeting:
Dear [Bank Name] Manager,
Letter Body:
I, [Your Name], hereby authorize [Joint Account Holder Name] to be added as a signatory to our joint account at [Bank Name]. The account number is [Account Number]. This authorization is effective immediately and will remain in effect until further notice.
Complimentary Close:
Best wishes,
[Your Name]
Updating Contact Information on Joint Account
Greeting:
To Whom It May Concern,
Letter Body:
I, [Your Name], hereby authorize [Joint Account Holder Name] to update our contact information on our joint account at [Bank Name]. The account number is [Account Number]. This authorization is effective immediately and will remain in effect until further notice.
Complimentary Close:
Thank you,
[Your Name]
Requesting Account Statement for Joint Account
Greeting:
Dear [Bank Name] Manager,
Letter Body:
I, [Your Name], hereby authorize [Joint Account Holder Name] to request an account statement for our joint account at [Bank Name]. The account number is [Account Number]. This authorization is effective immediately and will remain in effect until further notice.
Complimentary Close:
Best regards,
[Your Name]
Frequently Asked Questions
Can I use this authorization letter template for any bank?
Yes, you can use this authorization letter template for joint account at any bank. Just make sure you update the information specific to your account and bank.
Do I need to have a reason for granting authorization?
No, you do not need to have a specific reason for granting authorization. However, it can be helpful to be clear about what actions the joint account holder is authorized to take on your behalf.
Can I revoke the authorization at any time?
Yes, you can revoke the authorization at any time by sending a written notice to your bank. It’s important to keep in mind that revoking the authorization will only apply to future actions, not actions that have already been taken.
Does the joint account holder need to be present when I submit the authorization letter?
No, the joint account holder does not need to be present when you submit the authorization letter. However, they may need to provide identification or other documentation if they wish to perform actions on your behalf.
What if I need to modify the authorization after I’ve submitted the letter?
If you need to modify the authorization after you’ve submitted the letter, you can send a new letter with the updated information. It’s important to make sure that all parties involved are aware of any changes to the authorization.
Can I use this authorization letter template for other types of accounts?
No, this specific authorization letter template is designed for joint accounts. If you need to grant authorization for other types of accounts, you may need to use a different template or create a new letter from scratch.
Conclusion
An authorization letter template for joint account can be a helpful tool when you need to grant someone else permission to perform actions on your behalf. By following the tips and examples provided here, you can create a clear and effective authorization letter that meets your needs.