If you need to change the authorised signatory for your bank account, you will need to write a letter to your bank. Below is a sample letter to the bank for change of authorised signatory that you can use as a guide when drafting your own letter.
The purpose of this letter is to inform the bank that you wish to change the authorised signatory for your account. In the letter, you will need to provide the bank with the details of the new authorised signatory, including their name, address, and contact information. You will also need to provide the bank with any supporting documentation that they require.
It is important to note that the process for changing the authorised signatory may vary between banks. Before drafting your letter, you should check with your bank to ensure that you meet all of their requirements for changing the authorised signatory.
Readers can find examples of sample letters to the bank for change of authorised signatory below. These examples are provided as a guide and can be edited as needed to suit your specific situation.
Sample Letter to the Bank for Change of Authorised Signatory: Tips
1. Change of Signatory Due to Resignation
Greetings,
I am writing to inform you that Mr. John Doe has resigned as the authorised signatory of our account. We would like to appoint Ms. Jane Smith as the new authorised signatory for our account.
Ms. Smith’s details are as follows:
- Name: Jane Smith
- Address: 123 Main Street, Anytown USA 12345
- Contact Number: 555-1234
Please let us know if any additional information is required.
Best regards,
John Smith
2. Change of Signatory Due to Change in Business Structure
Dear Sir/Madam,
I am writing to inform you that our business has recently undergone a change in structure. As a result, we need to change the authorised signatory for our account.
We would like to appoint Mr. James Lee as the new authorised signatory for our account. Mr. Lee’s details are as follows:
- Name: James Lee
- Address: 456 Oak Street, Anytown USA 12345
- Contact Number: 555-5678
- Position in Company: Director
Please let us know if any additional information is required.
Thank you for your assistance.
Sincerely,
Jane Smith
3. Change of Signatory Due to Death
Dear Bank Manager,
It is with great sadness that I inform you that Mr. William Johnson, the authorised signatory for our account, has passed away. We would like to appoint Mrs. Sarah Johnson, his wife, as the new authorised signatory for our account.
Mrs. Johnson’s details are as follows:
- Name: Sarah Johnson
- Address: 789 Pine Street, Anytown USA 12345
- Contact Number: 555-9012
- Relationship to Mr. Johnson: Wife
Please let us know if any additional information is required.
Thank you for your understanding during this difficult time.
Best regards,
Emily Davis
4. Change of Signatory Due to Retirement
To Whom It May Concern,
I am writing to inform you that Mr. Robert Brown, the authorised signatory for our account, has retired. We would like to appoint Mr. Michael Green as the new authorised signatory for our account.
Mr. Green’s details are as follows:
- Name: Michael Green
- Address: 321 Elm Street, Anytown USA 12345
- Contact Number: 555-3456
- Position in Company: Vice President
Please let us know if any additional information is required.
Thank you for your assistance.
Best regards,
Samantha Lee
5. Change of Signatory Due to Change in Ownership
Dear Bank Manager,
I am writing to inform you that our business has recently undergone a change in ownership. As a result, we need to change the authorised signatory for our account.
We would like to appoint Ms. Rachel Hernandez as the new authorised signatory for our account. Ms. Hernandez’s details are as follows:
- Name: Rachel Hernandez
- Address: 789 Oak Street, Anytown USA 12345
- Contact Number: 555-6789
- Position in Company: Owner
Please let us know if any additional information is required.
Thank you for your assistance.
Best regards,
John Kim
6. Change of Signatory Due to Change in Company Name
Dear Sir/Madam,
I am writing to inform you that our company has recently changed its name. As a result, we need to change the authorised signatory for our account.
We would like to appoint Mr. Daniel Park as the new authorised signatory for our account. Mr. Park’s details are as follows:
- Name: Daniel Park
- Address: 456 Maple Street, Anytown USA 12345
- Contact Number: 555-7890
- Position in Company: CEO
Please let us know if any additional information is required.
Thank you for your assistance.
Sincerely,
Emily Kim
Frequently Asked Questions
What is an authorised signatory?
An authorised signatory is a person who has been designated by the account holder to sign on their behalf. They have the authority to perform transactions on the account and can make decisions related to the account.
What documents are required to change the authorised signatory?
The documents required to change the authorised signatory may vary between banks. However, you will typically need to provide identification for the new signatory, such as a passport or driver’s license, as well as proof of their relationship to the account holder, such as a letter of appointment or board resolution.
How long does it take to change the authorised signatory?
The time it takes to change the authorised signatory may vary between banks. However, you should expect the process to take a few days to a week, depending on the bank’s requirements.
Can I change the authorised signatory online?
It depends on the bank. Some banks may allow you to change the authorised signatory online, while others may require you to do it in person or through the mail. You should check with your bank for their specific requirements.
What happens if the authorised signatory is not changed?
If the authorised signatory is not changed, the previous signatory will still have the authority to perform transactions on the account. This can lead to issues if the previous signatory is no longer associated with the account or if they make unauthorized transactions.
What is a board resolution?
A board resolution is a document that outlines the decisions made by a company’s board of directors. It is often used to make decisions related to the company’s finances, such as approving a new signatory for a bank account.
Conclusion
Changing the authorised signatory for your bank account can be a simple process, as long as you follow the bank’s requirements and provide all of the necessary documentation. By using the sample letter to the bank for change of authorised signatory provided above, you can ensure that your letter includes all of the information needed to make the change quickly and smoothly.