Short answer
A banking power of attorney should match the assignment. Opening an account, collecting certificates, transferring or withdrawing money and closing an account are distinct powers. Granting every possible power is not always in the principal’s interests.
Practical example
If the representative only needs a statement, unrestricted transfer and cash-withdrawal powers create unnecessary risk.
What to do
Identify the bank, accounts or permitted operations and, where appropriate, an amount limit and expiry date. Check the bank’s form and identification requirements beforehand.
Points to consider
A power of attorney does not exempt the bank from customer checks or the special rules governing its operations.
Legal basis
Civil Code of Georgia, Articles 103, 107, 114. Current text: https://matsne.gov.ge/ka/document/view/31702
Information checked on 28 October 2026. The outcome depends on the documents and facts of the individual case.
Consult YURFIRMA to assess your documents and the appropriate legal route: https://yurfirma.ge/en/kontakty
This is general information and does not replace a legal assessment of your specific case. The current law and the relevant facts are checked again when you seek advice.