Bank of America Third Party Authorization Form

What is the Bank of America Third Party Authorization

The Bank of America Third Party Authorization is a formal document that allows an individual to designate another person or entity to access their bank account information and perform specific transactions on their behalf. This authorization is particularly useful for those who may need assistance managing their finances, such as elderly individuals or those with disabilities. The authorized party can include family members, financial advisors, or legal representatives, ensuring that the account holder's financial matters are handled efficiently and securely.

How to use the Bank of America Third Party Authorization

Using the Bank of America Third Party Authorization involves a few straightforward steps. First, the account holder must complete the authorization form, providing the necessary details about both themselves and the authorized party. This includes names, addresses, and account numbers. Once the form is filled out, it must be submitted to Bank of America for processing. After approval, the authorized individual will have access to the specified account information and the ability to perform transactions as outlined in the authorization.

Steps to complete the Bank of America Third Party Authorization

To complete the Bank of America Third Party Authorization, follow these steps:

1. Obtain the Third Party Authorization form from Bank of America.
2. Fill in the required details, including your personal information and that of the authorized party.
3. Specify the level of access you wish to grant, such as viewing account balances or making transactions.
4. Sign and date the form to validate your request.
5. Submit the completed form to your local Bank of America branch or through their secure online platform.

Legal use of the Bank of America Third Party Authorization

The legal use of the Bank of America Third Party Authorization is governed by banking regulations and privacy laws. The account holder must ensure that the person they are authorizing understands their responsibilities and the limitations of their access. This document is legally binding, meaning that both the account holder and the authorized party must adhere to the terms outlined in the authorization. It is advisable to keep a copy of the authorization for personal records.

Required Documents

When completing the Bank of America Third Party Authorization, certain documents may be required to verify identity and account ownership. These typically include:

• A valid government-issued ID for the account holder.
• A valid government-issued ID for the authorized party.
• Proof of address, such as a utility bill or lease agreement.
• The completed Third Party Authorization form.

Form Submission Methods (Online / Mail / In-Person)

The Bank of America Third Party Authorization form can be submitted through various methods to accommodate the preferences of account holders. These methods include:

• Online submission through the Bank of America website or mobile app.
• Mailing the completed form to the designated Bank of America address.
• In-person submission at a local Bank of America branch, where staff can assist with the process.