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Power of Attorney - Banking

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Power of Attorney - Banking Powered By Docstoc
					This Power of Attorney is used to appoint an agent to act on behalf of an individual with
regards to a bank account. This document grants the agent the authority to perform all
acts related to the bank account the principal could perform. Some of the acts include
making balance inquiries, making deposits and withdrawals, writing and endorsing
checks, and opening new accounts. It contains numerous standard provisions and may
be customized to fit the specific needs of the individual. This power of attorney
becomes effective when executed and lasts until a specified date, or is rescinded. This
document should be used by an individual that wishes to appoint an agent to handle his
or her banking matters.
                                    POWER OF ATTORNEY

          TO DRAW, ACCEPT, AND ENDORSE NEGOTIABLE INSTRUMENTS

 I, _______________ [Instruction: Insert name of account holder as it appears on
identification. Please note, this should also be the name exactly as it appears on the bank
account.] of ______________________________________________________ [Instruction:
Insert account holder’s address.] hereby appoint __________________________ [Instruction:
Insert name(s) of person being permitted to access bank account.] of
_______________________________________________________________ [Instruction:
Insert address of person being permitted to access bank account.] as my attorney in fact to
act in my capacity to act for me, individually, and in my name, place and stead, with reference to
the transaction of any and all business related to or connected to and to perform all other acts
necessary in the maintenance of any and all of my account(s) held with ___________________
with account number _____________________ [Instruction and Comment: Insert name of
banking institution and bank account number. If power only applies to certain bank
accounts, please add language that states the power only applies to a specific account
number and that the power shall not be applied to any of holder’s other accounts at the
banking institution.] (“Bank”). Such acts may include, but are not limited to the following:
making balance inquiries and general banking inquiries, including requesting statements and
information regarding the bank account; making deposits, transfers and withdrawals to or from
any of my bank accounts at Bank; writing, making and endorsing checks, drafts and other
instruments in connection with my bank accounts at Bank; opening new checking, savings,
money market, certificates of deposit, IRA’s or other accounts in my name and maintaining
same; approving and authorizing automatic withdrawals from my accounts; executing signature
cards for accounts maintained or opened by my agent in my name; depositing, withdrawing or
transferring money by any electronic means available, including but not limited to by automatic
teller machine, cellular telephone or electronic scanned documents, or any other methods of
electronic banking transmission hereinafter developed and made available by Bank; and
performing any and all other matters relating to, or in connection with, my bank accounts at
Bank.

[Comment: Person signing document should review stated permitted items and remove any
you DO NOT want your agent to be able to perform or have access to. If there are any you
specifically want to ensure your agent does not have permission to perform, you should
state same separately.]

I direct that the above-related powers and authority of my said agent shall be so exercisable and
effective regardless of the fact that I may be mentally or physically incapacitated or incapable of
understanding or unable to express myself or act in my own behalf at the time of any action on
my behalf by said agent. Such incapacity, whether mental or physical, that I may exhibit shall
not in any way interfere with the authority of my agent herein to act fully on my behalf according
to the terms hereof. In other words, this Power of Attorney shall not be affected by the
subsequent disability, incompetence or incapacity of the principal.
And I do hereby undertake to ratify and confirm each and all of the acts heretofore performed
and to be hereinafter performed by my said agents, acting in my name and on my behalf.

Bank is hereby indemnified and shall be held harmless by me for any and all actions taken by my
agent regarding my accounts at Bank, regardless of whether any such action was within the
intended scope of this Power of Attorney or not; therefore, Bank shall have no liability for the
actions of my agent or for following the directions of my agent in connection with my bank
accounts at Bank.

This power shall be in full force and effect on the date below written and shall remain in full
force and effect until _____ [Instruction: Insert date.] or unless specifically extended or
rescinded earlier by either party.

Dated __________, 20____.
[Instruction: Insert date power of attorney signed.]



By: _____________________________

[Instruction: Person giving power of attorney signs here.]




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DOCUMENT INFO
Description: This Power of Attorney is used to appoint an agent to act on behalf of an individual with regards to a bank account. This document grants the agent the authority to perform all acts related to the bank account the principal could perform. Some of the acts include making balance inquiries, making deposits and withdrawals, writing and endorsing checks, and opening new accounts. It contains numerous standard provisions and may be customized to fit the specific needs of the individual. This power of attorney becomes effective when executed and lasts until a specified date, or is rescinded. This document should be used by an individual that wishes to appoint an agent to handle his or her banking matters.
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