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What it is and how to stand up for yourself

What it is and how to stand up for yourself

Current account delegation involves some risks that it is good to know before deciding if a person deserves our trust. The attention threshold should always remain high.

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The Bank agent on the current account It corresponds to the power of attorney that the holder grants to a third person if he is unable to carry out specific operations. It is a permit that is granted to perform some of the most common procedures such as making wire transfers, issuing checks, or making withdrawals or deposits. Confidence in the person chosen as a delegate should be high but it is not always guaranteed that they are in good standing. There are significant risks in using the POA in question and it is good to know before making such an important choice.

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Transactions granted by power of attorney and types of powers of attorney

As mentioned earlier, by authorizing a third party to operate the checking account, you are authorizing them to do so Normal operations While they are excluded from carrying out exceptional operations such as signing contracts, withdrawing stocks, or Close the account. Among the most common procedures, we mention withdrawals, transfers and payments of various kinds. It is easy to understand how these processes can pose risks to the delegate. To limit the work of the delegate, it is preferable to choose a current account Joint signature. This type of authorization prevents the third party from carrying out any operation without the consent of the owner.

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Account a Separate signatureIt, on the other hand, allows you to act without consent while a mixed signature person limits the amount of individual transactions. Therefore, the greatest risks arise if the checking account has a separate signature.

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Risks of delegation of the current account

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After authorizing the representative to work on his current account, the bank He will not be responsible Of the actions performed by the subject. If there is Unjustified withdrawals There cannot be any kind of appeal by the account holder against the credit institution. By signing the agent, the responsibilities are also fully signed up. The account holder will not receive any compensation from the bank and will have to initiate a legal process to obtain the “stolen” money.

Another risk to consider is the possibility that the representative may have debts with the tax authorities. If controls are in place, the revenue agency can prepare Reserving on the current account To its owner in the manner determined by the various provisions of cassation.

So the person chosen to work for him should have full and indisputable confidence. In any case, it is recommended that you choose the power of attorney only with conditions Utmost necessity. We remind you that a proxy differs from a shared address for an account. The partner, in fact, unlike the delegate, is in fact a second holder of the checking account and has the freedom to work without restrictions.

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