Power of Attorney for a Bank Account or Deposit: What You Need to Know

Why You May Need a Power of Attorney for a Bank Account

If you are unable to visit a bank in person — due to illness, travel, a busy schedule, or any other circumstance — a notarised power of attorney for a bank account or deposit authorises another person to carry out transactions on your behalf. This is one of the most frequently requested documents in my practice: clients use it to act on behalf of elderly parents, to manage finances while abroad, or simply to delegate banking matters to a trusted person.

Key points to understand:

• The power of attorney must be notarised — the vast majority of banks in Uzbekistan do not accept a simple written authorisation for account operations.
• The document must clearly list the permitted actions: cash withdrawals, deposits, closing a term deposit, requesting account statements, and so on.
• A power of attorney may be single-use (for one specific transaction), limited (covering a defined category of actions), or general (granting a broad range of authority).
• The validity period is set by the principal; if no term is specified, the document remains in force in accordance with applicable legislation.

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What Authority Can Be Delegated

Depending on how much discretion you wish to grant, a power of attorney for a bank account or deposit can cover a wide range of actions:

In practice, I always recommend the principle of proportionality: include only the powers that are genuinely needed. The broader the authority, the greater the care required in choosing your representative.

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The Notarisation Process

The procedure is straightforward and usually completed in a single visit:

• The principal (account holder) attends the notary's office in person — the presence of the intended representative is not required, though it is permitted.
• The notary verifies the principal's identity and confirms their legal capacity.
• The scope of authority is agreed — I will help draft the wording so that the bank accepts the document without objection.
• The document is certified, entered into the notarial register, and handed to the principal.

For current notarial fees, please confirm the applicable tariff with the notary at the time of your appointment, as rates are subject to periodic revision.

Documents to Bring

• The principal's passport (original)
• The representative's details: full name, date of birth, passport series and number (a copy of their passport is acceptable)
• Account or deposit details (account number, bank name) — advisable to have, though not always mandatory
• If the power of attorney is being issued on behalf of a legal entity — constitutional documents and confirmation of the signatory's authority

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When a Power of Attorney Ceases to Be Valid

A power of attorney terminates automatically in certain circumstances: expiry of its term, revocation by the principal, the death of either party, or a court ruling that the principal lacks legal capacity. The principal may revoke the document at any time through a notary, after which the bank must be notified of the revocation. I recommend keeping a second copy for your own records and informing the bank immediately if revocation becomes necessary.

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Frequently Asked Questions

Can the representative sub-delegate authority to a third party?

Only if this is expressly provided for in the power of attorney and the sub-delegation is itself notarised. Without such a clause, sub-delegation is not permitted.

Will a foreign bank accept an Uzbek notarised power of attorney?

As a general rule, an apostille or full legalisation will be required, along with a notarially certified translation. Check the specific requirements of the relevant bank in advance.

Can a minor be named as a representative?

Legislation imposes restrictions based on legal capacity. In practice, representatives are required to have reached the age of majority.

Does the representative need to be present when the document is executed?

No. Personal attendance by the representative is not required for notarisation. Their passport details are sufficient.

What should I do if I have lost the power of attorney?

Contact the notary who certified the document. A record is retained in the notarial register, and a certified duplicate can be issued if needed.

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> *This article is provided for general information purposes only and does not constitute individual legal or notarial advice. Every situation has its own particular features, which should be discussed in a personal consultation.*

Get Your Power of Attorney Prepared

If you need a power of attorney for a bank account or deposit, I invite you to arrange a consultation at my notary office in the Yunusabad district of Tashkent. Together we will determine the appropriate scope of authority, draft the text precisely, and certify the document so that your bank accepts it without delay. Please reach out through any of the contact details listed on this website.