What Is a Banking Power of Attorney?
A Banking Power of Attorney is an official notarized legal document authorizing your agent to handle banking and financial transactions on your behalf within clearly stated powers.
It is commonly used by frequent travelers, non-residents, busy business owners and anyone who needs a secure delegated authority for banking affairs.
Why precise wording matters: Banks in the UAE apply strict AML/KYC requirements. General wording such as “manage the account” may not be enough. Specific powers such as opening or closing accounts, withdrawal, deposits and transfers should be clearly stated.
What Can the Agent Do?
- Open and close bank accounts
- Deposit and withdraw funds, with a possible financial limit
- Make local and international transfers
- Request and receive cheque books, debit cards and credit cards
- Manage and follow up on account activity
- Deal with loans and finance if expressly authorized
- Sign banking documents and agreements
If you want the agent to deal with loans or financing, this should be stated expressly and clearly. You may also add financial limits for withdrawals and transfers for extra protection.
Required Documents
Emirates ID and passport of the principal account holder
Emirates ID and passport of the agent
Bank name and account details such as account number or IBAN
Exact banking powers required
Steps to Obtain Your POA
1
Contact Us via WhatsApp
Send the bank name, account details and required banking powers.
2
Bank-Ready Drafting
We prepare precise wording that reflects UAE bank and AML/KYC requirements.
3
Choose the Notarization Method
In person at the office for AED 525 or online by video call for AED 945.
4
Notarization Session
The POA is notarized by a licensed notary after identity verification.
5
Receive and Submit to Bank
You receive a QR-coded notarized POA for the agent to submit to the bank.
*Price-Related Terms & Conditions
- Price starts from AED 525 for in-person notarization and AED 945 for online notarization.
- Preparation of the POA draft, attested in Arabic only.
- Arranging notarization procedures online or in person at the office.
- Following up with the client until the POA is issued, provided documents are complete and there are no notes from the notary.
- The offer is not available on official holidays and weekends.
Frequently Asked Questions
Can the agent withdraw and deposit from my account?
Yes, but only if withdrawal and deposit powers are expressly stated in the notarized POA. A financial limit can also be added.
Do all banks accept Banking POAs?
Most banks accept officially notarized POAs, but each bank may have its own wording and compliance requirements.
Can the agent deal with loans?
Yes, if this is expressly stated in the POA, such as dealing with the bank regarding a loan, receiving documents or making repayments.
Is Banking POA available for non-residents?
Yes. A principal outside the UAE may be able to sign abroad and legalize the POA for use in Dubai.
How much does a Banking POA cost?
It starts from AED 525 for in-person notarization and AED 945 for online notarization, subject to the stated terms and conditions.