Authorization for Bank to Release Information Form is a legal document signed and issued by an account holder of a bank to authorize a third party to request financial information of the account holder from the bank. This form is necessary for verification of financial credentials during renting a property, borrowing a loan, and various other financial transactions.
This form requests and permits only one-time issuance of the financial information from the concerned bank and hence does not require revocation. You as the signing principal of this form must complete it duly before handing over to the third party / bank requesting your financial information. However, you must specify the name and address along with the title of the representative if a firm requests the information accurately to avoid misuse of the form and protection of your confidential information and privacy.
Prior to Beginning
- Please understand that issuance of the Authorization for Bank to Release Information form grants the power to the third party to request your financial information from the bank. Therefore, issue such instrument with diligence and only when direly necessary.
- You must complete this request form duly while avoiding errors, omissions, and strikeouts.
- Identify yourself and the third party with care.
- You must date and sign this form in acceptance to granting the permission to request information of your confidential financial details.
- Please mark a copy to inquirer listed in this Authorization for Bank to Release Information form.
Steps to Prepare Authorization for Bank to Release Information Form
- Please enter the name of the authorized representative of the bank along with bank’s name and branch address.
- Enter the name of the third party along with the address on the succeeding lines. You may choose to enter the name of the person and title in case he/she is representing the institution. Enter the phone number of the inquirer. Please specify the relation of the inquirer to you. Please provide this information accurately to avoid misuse.
- Please enter your account number with the bank on the next line. You may choose to specify the account type like savings, checking, credit card, or loan account. You authorize your banker to release financial information pertaining to this bank account. Please specify the period or duration of disclosing the financial transactions to limit the scope of issuance of information. In addition, you may request your banker to identify the inquirer based on valid ID proof.
- Please date and sign on the next line to complete preparing the Authorization for Bank to Release Information form. Please mark a copy to Inquirer listed in this form. You may choose to retain a copy of this form for your record purpose.