By investing his funds in a bank - in the form of a time deposit, in the form of precious metal bars or impersonal metal, the depositor receives the right of sole access to his savings. In order to make a debit transaction or close an account, you must independently come to the bank branch, in most cases - to the branch where the deposit was originally made. Relatives do not have the right to access accounts, and even if they have a deposit agreement, savings book, depositor’s passport, etc., they will not be able to obtain either funds or information about the status of the account. In order not to be left without access to their savings in a critical situation (in case of illness, long business trip, etc.), many bank clients decide to issue a power of attorney. Read more about what types of these documents banks accept, and about the rights that can be granted to authorized persons.
Notarized power of attorney for the right to dispose of bank deposits
A power of attorney for the right to dispose of funds in a bank account is issued in accordance with clause 1 of Art. 185 of Chapter 10 of the Civil Code of the Russian Federation in three forms:
- in the form of a notarized document (outside the bank). For persons in prison, a power of attorney certified by the head of a prison or colony is equivalent to notarized powers of attorney;
- in the form of a document certified by an authorized employee of the bank;
- in the form of a document certified by the executive authority, local government, the head of the organization where the depositor studies or works, the head physician of the hospital where the bank client is located, as well as the head of the housing office at the place of residence.
A power of attorney for the right to dispose of precious metal bullion or depersonalized metal for compulsory medical insurance is issued only in the form of a notarized document. The cost of such a document varies from 1000 to 1500 rubles; registration is carried out by both private and public notaries. The depositor can indicate in the document one or more accounts, the management of which he entrusts to his relative or close person. You can also clarify the list of account transactions that are allowed to be performed without the presence of the account owner. Most notaries do not require the presence of the authorized person or the presence of his original passport when drawing up a power of attorney, however, the person’s passport information will need to be provided.
If the client’s account contains not precious metals, but cash, then it is easier and faster to issue a bank power of attorney rather than a notarized power of attorney; more about it.
Bank power of attorney for deposit management
A bank power of attorney, like a notarized one, gives the authorized person the right to carry out debit transactions on the current account or time deposit of the principal, including terminating the deposit agreement. A power of attorney can be issued for one or more people, but their presence and presentation of passports at the time of execution of the document are not required. A power of attorney in most banks, including Sberbank, is issued free of charge.
A power of attorney in a bank can be issued for one or several time deposits, and it must indicate exactly what actions the principal instructs the authorized person to perform on his behalf (only partial withdrawal of money can be allowed, without terminating the deposit).
According to Art. 186 of the Civil Code of the Russian Federation, the validity period of a power of attorney cannot exceed 3 years. If the power of attorney does not indicate in words the date of its issue, this document is considered void. If the validity period of the power of attorney is not specified, it is set to one year by default.
Thus, if a depositor wants to take care of his relatives and save them from hassle in the event of his serious illness, temporary disability or death, it is advisable to also issue a power of attorney when opening a deposit. Moreover, this document is issued for a period of up to 3 years, free of charge at a bank branch or for a low fee - at any notary.
Types and methods of registering a power of attorney in a bank
Many banking clients often need to carry out some transactions not personally, but through a proxy. Moreover, it does not matter whether the client is an individual, an organization or an individual entrepreneur - this situation can become relevant for any category of clients at any time.
To send your representative to the bank, you must issue a banking power of attorney from a notary or directly from the bank manager. It is important to do this correctly so that this document does not raise questions and the entrusted operation is carried out by your representative without your personal presence. At the same time, it is necessary to take into account security issues and not allow your authorized representative to exceed the powers assigned to him.
Banking power of attorney for individuals
For private individuals, the need to transfer powers most often arises to ensure third parties’ access to their own financial resources. For example, your deposit term is expiring and you would like to close the deposit agreement or re-register it, but you cannot contact the bank in person. In such a situation, you can go to the bank office where the deposit is opened in advance and issue a bank power of attorney to receive funds from the deposit account.
In addition to a bank power of attorney, to transfer the right to carry out certain transactions, you can draw up a notarized power of attorney at any notary office. Some banks accept such a power of attorney even more readily than an intra-bank power of attorney. But you will definitely have to provide a photocopy of the proxy’s passport and wait for the authenticity of such a power of attorney to be verified, which can take up to several days, and thus affect the speed of transfer of powers.
The most convenient option is to take care of this possibility in advance and issue a banking power of attorney immediately upon opening an account. Each bank has its own standard of intra-bank power of attorney, which is used in all situations requiring the transfer of authority. As a rule, these are either one-time powers of attorney, or powers of attorney only for a specific type of operation - closing an account, accessing a safe deposit box, withdrawing funds, issuing a plastic card, and so on. In this way, you maintain the safety of your own finances. An example of a bank power of attorney is located at the end of this article.
The terms of the bank power of attorney are determined by the bank independently. The standard period is 1 year, rarely more.
Banking power of attorney for legal entities
It is much more relevant than for individuals to draw up and receive a banking power of attorney for organizations and individual entrepreneurs. Legal entities that have large turnover and maintain extensive accounting are forced to quite often receive account statements from the bank (a power of attorney to receive bank statements is issued), and those who work with cash are forced to hand over cash to the cash desk (power of attorney to replenish accounts).
Of course, it would be strange if the director of a large corporation personally came to the bank to deposit cash or receive a statement. But since this information is a banking secret, the bank cannot entrust its contents to outsiders. In this regard, the execution of a bank power of attorney is a mandatory procedure in such cases.
Most often, the procedure for drawing up a bank power of attorney for organizations is as follows:
- The head of the organization (or individual entrepreneur personally) signs an agreement to maintain a bank account and fills out a bank card with a sample of his own signature. Once the manager’s signature is accepted by the bank, he can sign any type of document, including a power of attorney to receive statements from the bank or any other type of intra-bank power of attorney.
Attention! It is important to provide a signature that you can then reproduce, since any signatures you provide will be compared to the signature on the card.
- The head of the organization fills out a power of attorney in the form of the bank, in which he indicates the types of operations available under the power of attorney, and the authorized person also fills out a card with a sample of his signature. The seal of the enterprise or organization is affixed if the power of attorney is not drawn up for an entrepreneur working without a seal.
- From the moment the card with signature samples is accepted, the authorized representative can carry out approved transactions on the organization’s account without the presence of its immediate manager.
A power of attorney for a bank is a sought-after and frequently used document. It is necessary in cases where the principal cannot be personally present at the bank to carry out any financial or business transactions and transfers his powers to the authorized person. Both an individual and an organization can draw up this type of power of attorney.
Who can be a confidant
In principle, any citizen of the Russian Federation who has reached the age of majority can be a trusted person in a banking institution. Enterprises and organizations most often issue powers of attorney to their employees - specialists in accounting departments or other employees who can fully rightfully represent the interests of the company in the bank.
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Basic principles of drawing up a power of attorney for a bank
There is no single sample power of attorney developed for universal use, so each enterprise can write a power of attorney in free form or use a template provided by a credit institution. Large enterprises often write powers of attorney on letterhead, formatting them in a strictly defined manner, but this is not a general rule.
The list of instructions may consist of just one item, or it may be practically unlimited (for example, a proxy may exercise the right to open and close accounts, create deposits, deposit and withdraw funds, take statements and various certificates, submit payment orders for payment and etc.)
Another important point - validity period of the power of attorney. It can be issued to perform some one-time action, or for a certain period; an option without specifying specific dates is also allowed. In the latter case, its validity period is automatically limited to one year from the date of signing.
Note! If a power of attorney is drawn up by an individual, then banking institutions require its mandatory certification by a notary, but if the power of attorney is issued by a legal entity, then the power of attorney form must bear the seal of the organization and the signature of the manager.
Instructions for filling out a power of attorney to a bank from a legal entity
First part
You can conditionally divide the power of attorney form to the bank into two parts. The first includes basic information about the principal and his representative.
- In the header of the document, you must indicate the city in which the power of attorney is issued, the date it was completed, as well as the full name of the legal entity-principal (indicating its organizational and legal status).
- Next, you need to enter the details of the company: where and when it was registered, OGRN, INN (this information can be taken from registration documents), indicate the head of the organization (his position, surname, patronymic name) and on the basis of which document he acts (most often they write here "based on the Charter").
- Then enter information about the authorized person who will represent the interests of the company in the bank. First, indicate his last name, first name, patronymic (first name and patronymic can be entered as initials), passport data (series, number, when and by whom it was issued), address of the place of registration (according to the passport).
- After this, you should indicate which credit institution the principal gives the representative the right to act on his own behalf (the name of the bank can be taken from the service agreement), as well as account numbers, if the authorized person is authorized to conduct financial transactions.
Second part
- The second part of the power of attorney includes a complete list of actions that the representative of the principal company is authorized to perform. The wording in this part should be as correct as possible in order to prevent refusal to recognize the power of attorney on the part of the bank - even if the powers are very broad, each permitted action should be indicated in a separate paragraph.
- Next, you must include a line about the possibility of subscribing the power of attorney (it is important to note that powers of attorney with the right to subscribing must be certified by a notary). If such a possibility is excluded, then this must also be indicated.
In general, companies prefer, instead of the possibility of sub-power of attorney, to issue several powers of attorney to different people at once.
- Below is written the period for which the document was issued. Any dates can be indicated here; by law, at the moment, the duration of such a power of attorney may not be limited.
- At the end, the authorized person puts his signature on the document, which is certified by the head of the principal’s organization. He also signs the power of attorney and puts the seal of the organization (it should be noted that since 2016, legal entities are not required to use a seal, however, credit companies, just like many government agencies, most often still require a stamp on documents).
A banking power of attorney is a necessary element in the relationship between a client and a financial organization, which gives the authority to the authorized person to carry out actions regarding banking transactions. It is important not only to draw up the document correctly, but also to take into account security issues so that the authorized person cannot exceed the powers assigned to him by the power of attorney. for the bank is compiled for both individuals and organizations. The document provides the right:
- manage funds in bank client accounts, including replenishing an account, transferring and receiving funds, and more;
- open and close deposits;
- issue bank cards;
- receive an account statement;
- have access to safe deposit boxes;
- carry out other actions recorded in the power of attorney.
Banking power of attorney for individuals
As a rule, the need for a bank power of attorney for individuals arises when they need to provide access to their own funds to third parties in case of their absence at the time of account transactions. So, for example, a bank client is running out of time on a deposit that he would like to close or re-register, but due to his busy schedule, he cannot carry out this operation within the specified period. The solution in this situation would be to prepare a power of attorney in advance, under which a trusted person can receive funds from the bank. The most convenient option for an individual is to issue a power of attorney directly at the bank, for example, when opening an account. As a rule, these are one-time powers of attorney or documents designed for specific types of transactions, which are issued directly from a specialist of a financial institution. Each bank has its own form for such a power of attorney, but you can download an approximate example on our website.
The term of a power of attorney for a bank is not limited by law (Article 186 of the Civil Code of the Russian Federation), it is determined by the organization independently, but the standard period is 1 year.
In addition to a banking power of attorney, an individual can issue a power of attorney to conduct banking transactions with third parties from a notary. In this case, when carrying out actions by an authorized person, the bank has the right to request a photocopy of the passport and the original power of attorney to verify its authenticity, which can take up to several days and thereby affect the efficiency of the implementation of powers.
Banking power of attorney for legal entities
For organizations and individual entrepreneurs, obtaining a bank power of attorney is the most pressing issue in the area of conducting their activities. The thing is that legal entities maintain extensive accounting, which implies much closer contact with bank employees. Since information about the status of accounts is a banking secret, any employee of the organization can receive bank statements or cash if they have the appropriate information.
Important! Corrections, erasures and erasures are not allowed in the banking power of attorney.
The procedure for drawing up a power of attorney in a bank:
- An individual entrepreneur or the head of an organization, when concluding an agreement with a financial institution, fills out a bank card with samples of his own signature, after receiving which at the bank he has the right to sign any papers, including a bank power of attorney in favor of a third party.
- The head of an organization or individual entrepreneur draws up a power of attorney in the form of a bank, where he indicates the types of operations available to the authorized person, who, in turn, also fills out a card with samples of his signature. The power of attorney must be affixed with the seal of the organization or individual entrepreneur, if the latter does not work without a seal.
- From the moment of acceptance of the power of attorney and the card with sample signatures, the authorized representative can carry out any banking operations approved by the principal without his presence.
Important! Both the head of the organization and the authorized person must sign the signature on the bank card very carefully, so that in the future they can easily reproduce it, since it is necessarily compared by bank employees when carrying out transactions.
A power of attorney is a document with which a person can transfer part of his rights to carry out certain actions to a legal representative.
Ordinary citizens, private entrepreneurs and legal entities can apply for it. This document is required if the client cannot independently contact the bank to receive any service.
In what cases is a power of attorney required for VTB Bank?
The execution of this document is necessary when the client of the financial institution cannot contact the branch to receive a particular service. In such a situation, the right to manage money in an account, card or deposit can be transferred to a legal representative.
There are several types of powers of attorney:
- unilateral (with a single representative) and multilateral (with several proxies);
- unlimited and fixed-term (issued for a specific period);
- one-time, special and general.
If you need a trusted person to carry out any operation for you once or carry out a certain assignment, it is enough to issue a one-time power of attorney. A special one allows you to perform the necessary actions several times (for example, regularly open and close deposits).
A general (otherwise general) power of attorney provides the legal representative with the greatest range of rights. The scope of powers is determined by the principal himself and may have no restrictions.
Is notarization required?
You can issue the power of attorney you are interested in in the following ways:
- at the nearest branch of VTB Bank Moscow;
- at a notary's office;
- in an institution that has the right to certify documentation under certain circumstances (we are talking, for example, about certifying a power of attorney by the head of a military unit, if a serviceman cannot contact a notary in connection with his service).
The choice depends on the list of powers of the future representative. If the power of attorney was issued at a bank branch, it does not need to be additionally certified by a notary office. In other cases, you cannot do without a notary’s certificate, otherwise the document will not have legal force.
An exception is a power of attorney from a legal entity for VTB, which is certified by the signature of the head of the organization and its chief accountant. Notarization is necessary if we are talking about a transfer of trust.
What powers does the trustee receive?
The list of powers that can be vested in a bank client’s representative depends on the type of power of attorney.
As a rule, the document gives the trustee the right to carry out the following actions:
- opening or closing deposits;
- issuing credit, debit and social cards;
- free management of finances on the client’s account;
- gaining access to safe deposit boxes, deposits and shares;
- preparation of account statements;
- connection of additional banking services – free and paid;
- carrying out other actions contained in the text of the power of attorney.
The client has the right to indicate in the document several authorized persons who are able to gain access to finances stored at VTB. At the same time, it is possible to establish a certain list of powers for each individual representative. If necessary, the client can issue several powers of attorney of different types.
Who can become a trustee?
A VTB Bank client can issue an appropriate power of attorney to manage their finances in favor of an adult and capable citizen.
A person who has reached the age of 14 can also become a representative, but in this case one cannot do without the written consent of his parents or guardians.
Where can I find a sample power of attorney for VTB Bank?
If you decide to contact a notary office, the specialist will use his own document form. The cost of issuing a power of attorney depends on its type, the number of proxies and the notary’s fees.
If you plan to transfer the right to manage your finances through a bank branch, you will not have to look for a sample power of attorney for VTB, because the company’s specialists will provide a template based on the bank’s form.
For example, a legal entity wishing to grant a legal representative the right to open and maintain a current account can fill out the following. Current document forms can be found on the official VTB website or requested from bank managers.
How long does a power of attorney remain valid?
The validity period of the document is usually indicated by the principal in its text. If you have issued a durable power of attorney, your representative will be able to manage finances at VTB Bank or carry out other actions on your behalf during the calendar year, in accordance with Article 186 of the Civil Code of the Russian Federation.
The countdown begins from the moment the documents are signed by the notary. The client has the right to cancel the issuance of a power of attorney by writing a corresponding statement to a notary and a representative of the bank. In this case, it is required to notify all persons indicated as representatives.