What is the difference between a general power of attorney and a special banking power of attorney? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is the difference between a general power of attorney and a special banking power of attorney?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

A general power of attorney is broader in scope, while a special banking power of attorney specifies particular banking powers.

The bank considers the actual wording, not just the name; if your goal is to withdraw, close, or link a deposit, ask the bank which wording they accept.

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