Anyone who has any experience at all of dealing with banks and other financial institutions will know how difficult they can sometimes be. There are so many different rules and regulations in place that it can sometimes be a little confusing when you are trying to get things done. To be fair to the banks, most of the rules and regulations that they have are there to protect both you and the bank against any fraudulent transactions and thus make sure that your money is completely safe at all times. The most important part of the banking system is the Data Protection Act; this is a law that ensures that you, and only you, can gain access to your personal information and banking details unless you specifically provide a written authority for someone else to access the information. A great example of this is when you need another individual to collect something for you from the bank, such as your new cheque book. For this to take place you will need to write an authority letter. There are a number of different authority letters that can be written but they will all have roughly the same format. You will need to start the letter by addressing it to the correct person at the bank (call to find this out if you do not know). Then add your address to the top right-hand side and the banks address on the left. Then you can continue to write that you authorize the chosen individual to collect the new cheque book on your behalf. Make sure that you sign the letter at the bottom and leave a contact phone number in case of any queries.
