Document background
The Authorization Letter for Bank is a critical document used in the Netherlands when an account holder needs to delegate banking authority to another person or entity. This document is particularly relevant when account holders are temporarily unavailable, require assistance with banking matters, or need to authorize business representatives to handle company accounts. The letter must comply with Dutch banking regulations, including the Financial Supervision Act (Wft) and the Dutch Civil Code, while adhering to strict privacy requirements under GDPR/AVG. It typically specifies the scope of authority, duration, account details, and any limitations on the authorized party's powers. Common uses include business continuity planning, assistance for elderly or disabled account holders, and corporate account management.
