When there is a change of treasurer in an association or the arrival of a new financial manager in a company, you should send a letter to the bank to transfer banking powers.
This letter must precisely detail all authorized banking operations and be signed by the association’s or company’s legal representative.
It is important to remember that this document is at risk in the hands of an unscrupulous person. Consequently, it must be the subject of great vigilance and can only be intended for a trusted person.
Below is an example of a letter of transfer of banking powers to be personalized according to the context (association or company):
Contents
Sample letter of transfer of banking powers of an association or company:
<On association or company letterhead>
<Bank Name>
<Bank details>
To the attention of the account manager
<City>, <Today’s date>
Object: transfer of the association’s banking powers
Sir, Madam,
I, the undersigned <Name of the President>, residing <Address of the President>, President of the association <Name of the association>, having its head office <Address of the head office of the association>, at this moment grant power to <Name and First Name of the treasurer>, residing <Address of the treasurer>, treasurer of the association to carry out the following operations:
- Day-to-day management of your establishment’s bank accounts,
- Make withdrawals and deposits into the association’s bank account,
- Endorse and issue checks to the association’s checkbook,
- Remove all checkbooks,
- Request all banking documents relating to the operation of the association’s account,
- Make all payments for the operation of the association by transfer, check, or any other means,
- To take samples,
- To open and close the association’s bank account(s) with your establishment,
- And all other banking operations necessary for the functioning of the association.
This power of attorney is drawn up in three copies, one of which is given to <Name and surname of treasurer> and remains valid until revoked.
<First and last Name of the President>
<Signature and stamp of the association>
Download a template letter:
To use and personalize this banking powers transfer letter sample, you have to copy-paste the text of this article into your word processor (Microsoft Word or OpenOffice Writer) or your email program.
We’re interested in your opinion and your advice to transfer banking powers:
Let us know in the comments. Thank you.
