Need to update who can sign your bank account documents? A “Sample Letter To Bank For Change Of Signatories” is your tool. It’s a formal request to your bank. You’ll use it when authorized personnel need to be added, removed, or replaced. Think of new management, a retiring partner, or a change in company roles.
Writing this letter can feel daunting. Don’t worry, we’ve got your back! We’ll share templates and examples.
This article provides samples. These samples will simplify the writing process for you. You can easily tailor them to your needs. Let’s make this change smooth and efficient.
Sample Letter To Bank For Change Of Signatories
[Your Company Name]
[Your Company Address]
[City, State, Zip Code]
[Date]
[Bank Name]
[Bank Address]
[City, State, Zip Code]
Subject: Change of Signatories for Account Number [Your Account Number]
Dear Sir/Madam,
This letter is to formally request a change in the authorized signatories for our company account, account number [Your Account Number], held at your branch.
We wish to remove [Name of Existing Signatory] and [Name of Existing Signatory] from the list of authorized signatories.
We would like to add [Name of New Signatory] and [Name of New Signatory] as the new authorized signatories for the aforementioned account. Their specimen signatures are attached to this letter, along with copies of their identification documents.
The updated list of authorized signatories will therefore be:
[Name of New Signatory]
[Name of New Signatory]
Only signatures from these individuals will be honored for transactions relating to account number [Your Account Number] from the date of this letter.
We kindly request you to update your records accordingly and provide confirmation of these changes. If any further information or documentation is required from our end, please do not hesitate to contact us.
Thank you for your prompt attention to this matter.
Sincerely,
[Your Name]
How to Write Sample Letter To Bank For Change of Signatories
1. Subject Line: Conciseness is Key
The subject line is your opener. It needs to be succinct and immediately inform the bank of your intent. A vague subject line risks delayed action. Instead, opt for clarity and precision. Consider these:
- Request to Update Bank Signatories – [Account Name] – [Account Number]
- Change of Signatory Mandate – Account [Account Number] – [Company Name]
- Revised Signatory Authorization – Account Details Here
2. Salutation: A Professional Ambiance
Addresses the recipient with due respect. Avoid informal greetings like “Hi” or “Hello.” Instead, choose:
- Dear Bank Manager,
- Dear [Bank Department/Officer],
- To Whom It May Concern, (use sparingly, only when you lack a specific contact)
3. Introduction: Stating the Purpose with Finesse
This is where you unequivocally state your reason for writing—a change in authorized signatories. Leave no room for ambiguity. Incorporate:
- “This letter serves as formal notification to update the authorized signatories for bank account [Account Number] held under [Account Name].”
- “We are writing to request a modification to the current signatory mandate for account number [Account Number], registered to [Company Name].”
- “The purpose of this communication is to instigate a change in the individuals authorized to manage and operate account [Account Number].”
4. Body Paragraph 1: Introducing the New Signatories
Provide meticulous details about the new signatories. Accuracy is paramount here. Don’t underestimate the necessity of due diligence on your part.
- Full Name
- Residential Address
- Contact Number
- Email Address
- Specimen Signature (On a separate, attached sheet for verification)
- Government-issued Identification (e.g., Passport, Driver’s License)
5. Body Paragraph 2: Detailing Removed Signatories (If Applicable)
If you’re removing signatories, provide their information for record-keeping. Transparency averts potential complications. Don’t falter on detail.
- Full Name
- Reason for Removal (e.g., resignation, role change) – Briefly state the reason
- Last Date of Authorized Signing
6. Body Paragraph 3: Supplementary Instructions and Authorizations
Elaborate on any specific instructions or authorizations the bank needs to be aware of. Consider this your opportunity to preemptively address queries.
- Specify whether the old signatories’ access should be immediately revoked.
- Indicate if any specific transaction limits apply to the new signatories.
- Mention any accompanying documentation (e.g., board resolution, company mandate).
- Offer a point of contact within your organization for clarification.
7. Closing: Formal Gratitude and Expectation
Conclude with a professional closing and a note of anticipation for a swift resolution. Maintain a formal yet courteous tone. Refrain from unnecessary embellishments.
- “We appreciate your prompt attention to this matter and anticipate the changes being implemented expeditiously.”
- “Thank you for your cooperation. Please confirm receipt of this letter and the subsequent implementation of the revised signatory mandate.”
- Formal closing options: “Sincerely,” “Respectfully,” or “Kind Regards,” followed by your name, title, and company name.
Frequently Asked Questions: Changing Bank Signatories
This section addresses common queries regarding the process of notifying your bank about changes in authorized signatories for your account. Understanding this process ensures a smooth transition and continued access to your banking services.
1. What information should be included in the sample letter?
The letter should include the account name, account number, the names of current signatories, the names of new signatories, their specimen signatures, effective date of change, and contact information.
2. Who should sign the change of signatory letter?
Typically, a current authorized signatory or a company officer (e.g., CEO, CFO) whose signature is on file with the bank should sign the letter.
3. Is a board resolution required to change signatories?
Many banks require a board resolution authorizing the change, particularly for corporate accounts. Check with your specific bank for their exact requirements.
4. How long does it take for the bank to process the change?
Processing times vary by bank, but it usually takes between 3 to 10 business days. Contact your bank to confirm their specific processing timeline.
5. What supporting documents are required with the letter?
Typically, you will need to provide identification documents (e.g., driver’s license, passport) for the new signatories, a company resolution (if required), and any other documents specified by the bank.
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