A Customer Guide to Opening a:
Power of Attorney
Checklist to Open a Power of Attorney (POA)
A Power of Attorney (POA) allows an agent to act for another person, called the principal. A POA has authority to act; usually, it is not a separate account ownership type. Note: a POA is no longer valid upon a customer’s death.
WHAT TO BRING TO THE BANK
Bring the following documents to set up a Power of Attorney:
- Original Power of Attorney document. Note: The review and approval process may take 1-3 business days.
- Valid US or MA government-issued photo identification for the Power of Attorney. Note: if you do not yet hold any other account at WSB, you will be required to bring an additional form of ID (such as a Social Security Card, Birth Certificate, or a type of Health Insurance Card)
- WSB account numbers that will have the POA on.
Take note that the following are excluded: Business Accounts, Trusts, Estates/ Personal Reps, Rep Payee, Conservator, Guardian, Custodian/UTMA, Safe Deposit Boxes. - Taxpayer W-9 for the principal, who must be an existing account holder; only for new accounts
- Customer Information Form completed by POA
WHO WILL NEED TO COME TO THE BANK
Various account documents will need to be signed by the Attorney-in-Fact (Appointed Power of Attorney) at the Bank. (Note: The Principal is not required to come to the Bank):
- Power Attorney Registration & Power of Attorney Affidavit
TIPS
To expedite the account opening process:
- Call 617-928-9000 to schedule an appointment with a Personal Banker at a nearby WSB branch location.
- Send copies of the required documents, such as the Customer Information Form, prior to the first appointment to: support@watertownsavings.com and include in your email the name of the Personal Banker you will be meeting with. It may take 1-3 business days for review.
Thank you for your interest in opening a Power of Attorney (POA) at Watertown Savings Bank.
Important: This guide provides general information only. Documentation requirements may vary based on the customer, account purpose, legal documents, and bank account-opening requirements.
