If you are planning to add an authorized signatory to your bank account, you need to write a letter to your bank requesting the same. In this article, we will provide you with some sample letters that you can use as a guide.
Before we dive into the sample letters, let’s quickly go over what an authorized signatory is. An authorized signatory is a person who is authorized to sign on behalf of the account holder in a bank. This person could be a partner, director, or any other authorized person who has the power to sign on behalf of the company.
The authorized signatory has the power to withdraw money, issue checks, and perform other financial transactions on behalf of the account holder. Adding an authorized signatory to your account is a simple process that requires you to write a letter to your bank.
Now let’s take a look at some sample letters that you can use as a guide.
Tips for Writing a Letter to Bank for Adding Authorized Signatory
Here are some tips for writing a letter to your bank to add an authorized signatory:
Example 1: Request to Add Authorized Signatory
Dear Sir/Madam,
We would like to request you to add Mr. John Smith as an authorized signatory to our bank account number XXXXXXXX. Mr. Smith is the director of our company and has the authority to sign on behalf of the company.
We have attached all the necessary documents along with this letter. We request you to please process this request at the earliest.
Thank you for your cooperation.
Regards,
Your Name
Example 2: Adding Authorized Signatory for Partnership Firm
Dear Sir/Madam,
We are writing to request you to add Mr. John Smith as an authorized signatory to our partnership firm’s bank account number XXXXXXXX. Mr. Smith is one of the partners in our firm and has the authority to sign on behalf of the firm.
We have attached all the necessary documents along with this letter. We request you to please process this request at the earliest.
Thank you for your cooperation.
Regards,
Your Name
Example 3: Adding Authorized Signatory for Limited Company
Dear Sir/Madam,
We would like to request you to add Ms. Jane Doe as an authorized signatory to our limited company’s bank account number XXXXXXXX. Ms. Doe is the director of our company and has the authority to sign on behalf of the company.
We have attached all the necessary documents along with this letter. We request you to please process this request at the earliest.
Thank you for your cooperation.
Regards,
Your Name
Example 4: Adding Authorized Signatory for Trust
Dear Sir/Madam,
We are writing to request you to add Mr. John Smith as an authorized signatory to our trust’s bank account number XXXXXXXX. Mr. Smith is one of the trustees of our trust and has the authority to sign on behalf of the trust.
We have attached all the necessary documents along with this letter. We request you to please process this request at the earliest.
Thank you for your cooperation.
Regards,
Your Name
Example 5: Adding Authorized Signatory for Sole Proprietorship
Dear Sir/Madam,
We would like to request you to add Mr. John Smith as an authorized signatory to our sole proprietorship’s bank account number XXXXXXXX. Mr. Smith is the sole proprietor of our business and has the authority to sign on behalf of the business.
We have attached all the necessary documents along with this letter. We request you to please process this request at the earliest.
Thank you for your cooperation.
Regards,
Your Name
Example 6: Adding Authorized Signatory for Association
Dear Sir/Madam,
We are writing to request you to add Mr. John Smith as an authorized signatory to our association’s bank account number XXXXXXXX. Mr. Smith is one of the members of our association and has the authority to sign on behalf of the association.
We have attached all the necessary documents along with this letter. We request you to please process this request at the earliest.
Thank you for your cooperation.
Regards,
Your Name
Frequently Asked Questions
Can I add more than one authorized signatory to my account?
Yes, you can add more than one authorized signatory to your account. You will need to provide the necessary documents and signatures for each person you wish to add as an authorized signatory.
What documents do I need to provide to add an authorized signatory?
You will need to provide a copy of the authorized signatory’s ID proof, address proof and a letter of authorization. The letter of authorization should be on the company’s letterhead and signed by an authorized signatory of the company.
Can I remove an authorized signatory from my account?
Yes, you can remove an authorized signatory from your account. You will need to write a letter to your bank requesting the removal of the authorized signatory and provide the necessary documents as per the bank’s guidelines.
Can an authorized signatory operate the account independently?
Yes, an authorized signatory can operate the account independently. They have the authority to sign on behalf of the account holder and perform financial transactions on behalf of the account holder.
Can I add an authorized signatory to my joint account?
Yes, you can add an authorized signatory to your joint account. All the account holders will need to sign the letter of authorization and provide their ID proof and address proof as per the bank’s guidelines.
How long does it take to add an authorized signatory to my account?
The time taken to add an authorized signatory to your account depends on the bank’s processing time. Generally, it takes around 5-7 working days for the bank to process the request and add the authorized signatory to your account.
Conclusion
Adding an authorized signatory to your bank account is a simple process that requires you to write a letter to your bank. We hope the sample letters provided in this article help you in writing your letter to add an authorized signatory to your account. Remember to provide all the necessary documents and signatures as per the bank’s guidelines to ensure a smooth process.