Managing banking transactions in the UAE can be tricky, especially if you’re travelling, overseas, or unable to visit the bank personally. Whether it’s accessing funds, closing a fixed deposit, or applying for a loan, banks often require the account holder to be physically present.
That’s where a Power of Attorney in the UAE becomes invaluable.
With a well-drafted POA in Dubai or anywhere else in the UAE, you can appoint a trusted representative to manage your bank-related matters with confidence. It makes the process easy, eliminates unnecessary delays, and ensures your financial transactions continue smoothly.
What Is a Power of Attorney?
A Power of Attorney (POA) is a legal document through which one person (the Principal) authorizes another person (the Attorney) to act on their behalf in specific matters. In the UAE, a POA is widely used to manage real estate, company affairs, legal disputes, banking transactions, and many other personal matters.
Can a POA Be Used for Banking in the UAE?
Yes. A Banking POA in Dubai or the UAE enables the authorized person to carry out various bank-related activities, such as:
- Opening or closing bank accounts
- Depositing or withdrawing funds
- Accessing account statements
- Applying for loans or credit facilities
- Managing fixed deposits
- Transferring money between accounts
- Interacting with bank officials
However, not all POAs are accepted automatically by banks. It must meet the legal and procedural standards required by the specific bank and UAE law.
What to Include in a Banking POA
To ensure that your Power of Attorney in the UAE is accepted for banking purposes, it should:
- Specify the Powers Clearly
Avoid vague terms. Mention exact permissions like “to open and operate accounts,” “to withdraw funds,” “to access bank records,” etc.
- Be Properly Notarized and Legalized
- For a POA in Dubai or other emirates, notarization must be done through a notary public either in person or via the Online POA in UAE service.
- If the POA is issued abroad, it must be duly attested in that country and in the UAE.
Be Accepted by the Bank
Each bank may have slightly different documentation or approval procedures. It’s important to confirm the bank’s requirements before presenting the POA.
How to Create a Banking POA in Dubai or the UAE
- Draft the POA with specific, bank-related permissions
- Translate into Arabic if required by the notary or bank
- Notarize it via the UAE Notary Public (online or in person
- Submit the original POA and ID documents to the bank
- Get approval from the bank’s legal or compliance team
Once accepted, your authorized representative can begin managing your banking affairs.
Benefits of Using an Online POA in the UAE
- Convenience – No need to visit the notary office; the process is completed online
- Speed – Faster processing and document issuance
- Legal Validity – Recognized by all UAE authorities and banks
- Remote Access – Ideal for expats who are abroad but need to manage accounts locally
Things to Keep in Mind
- Most POAs remain valid until revoked or until the expiry date specified in the document
- Banks usually require original notarized documents, not scans or photocopies
- Some banks may not allow all types of transactions, such as applying for credit cards, under a POA
- For corporate bank accounts, additional documents like board resolutions may be required
Creating a Power of Attorney in the UAE for banking is a smart move if you’re looking to delegate financial responsibilities safely and legally. Whether you reside in the UAE or abroad, a legally sound POA in Dubai allows your trusted representative to manage your bank accounts, submit documents, and handle other financial matters on your behalf.
At JustPOA, we specialise in preparing and notarizing POA in the UAE, and the best part is, the entire process can be done remotely. From drafting and legal translation to online notarization and final delivery, we ensure your Power of Attorney in the UAE is fully compliant, recognized by major banks, and tailored to your needs, without any hassle or stress for you.
Need a POA for Banking in the UAE?
Let our legal experts at JustPOA guide you through the process, from start to finish. Get in touch today.
