The bank power of attorney allows you to let another person manage your bank account (however, it will not be possible for them to close the account). This person does not have to be a member of your family, but it must, of course, be someone you trust. Note that the power of attorney is a different procedure from curatorship or guardianship since you retain your rights to your accounts. However, it is necessary to produce a document in good and due form so that these withdrawals and deposits can be carried out without problem.
The bank form
The procedure for setting up a bank power of attorney is likely to vary depending on the banking establishment. However, in general, you will have to go to your bank adviser to complete and sign a form. This form will allow you to indicate whether you want the power of attorney to be:
- general for all operations and without time limit (you can even authorize the signing of checks on your behalf if this is specified);
- or limited in time and/or in terms of possible operations to be carried out (or by limiting the maximum amounts for example).
It is not uncommon for the bank to request that the agent also provide certain elements: copy of the signed form, proof of identity and address. Note that you have the possibility of appointing several proxies for the same bank account.
How to end a power of attorney
To terminate a bank power of attorney, simply submit a written request to the bank. The agent can also request it. In the case of a limited power of attorney, it ends at the end of the stipulated duration; it is not automatically renewed.
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