Detailed Banking Authorization Form

[Anonymous]

Does anyone already have created a detailed banking authorization form that allows the client to authorize specific transactions you are allowed to make on their behalf and that form is presented to the bank for their files? I am looking for something more detailed than the form in the files.

A local bank is looking for something we can have in writing. I’d like to be able to have a client choose specific transactions so there is no confusion what I’m authorized to do.
If I can’t find one, I’ll work with an attorney to create one that meets the bank’s needs.

Thanks for your help.

[Anonymous]

Most banks have their own forms and are still very uncomfortable about third party access, even from professionals like us. I have POA for a few clients’ accounts. Usually banks aren’t willing to accept forms we use, even if attorney prepared. Have you tried providing your contract or engagement document? I certainly wouldn’t spend my own money hiring an attorney, but if your client would cover the cost, that might be ok. If your client has online access, maybe you can agree with the client on what you will and won’t do and use that log in to do what needs to be done without involving the bank.

[Anonymous]

Thanks Lynn. You make some great points about providing my contract. These clients are elderly and don’t use online services so I simply want to be able to discuss the accounts, get balances, etc. So far with one or two clients they haven’t minded but now they’re looking for something more substantial. I’ll grab the contracts, put together something a little more specific myself the client will agree to, and sit with the bank to discuss. I appreciate your feedback.

[Author]

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