Opening Bank Accounts
A simple board resolution for the opening and operation of bank accounts for a company in England and Wales. To be inserted in the general board resolution template provided by GitLaw.
Opening and Operation of Bank Accounts
IT IS RESOLVED THAT:
Opening of bank accounts
The Company be and is hereby authorised to open and maintain one or more bank accounts with [bank name] (the "Bank") on such terms as any authorised signatory considers appropriate.
Authorised signatories
The following persons be and are hereby appointed as authorised signatories on the Company’s bank accounts:
[authorised signatory 1]
[authorised signatory 2]
[authorised signatory 3]
Signing instructions
The Bank be authorised to accept instructions and documents in relation to the Company’s bank accounts:
[basis on which the bank can accept instructions]; and
in accordance with any mandate or authority agreed with the Bank from time to time.
Electronic and online banking
Any authorised signatory be authorised to:
register for and operate any electronic, online or telephone banking services provided by the Bank; and
designate users, access levels and transaction limits in connection with such services.
Bank mandates and documents
Any authorised signatory be authorised to sign, execute and deliver all bank mandates, account opening forms and other documents required by the Bank in connection with the opening and operation of the Company’s bank accounts.
Payments and transactions
The Bank be authorised to honour all cheques, instructions, transfers and other payment orders given in accordance with this resolution and the applicable mandate, whether or not the relevant account is overdrawn as a result.
General authority
Any director be authorised to do all acts and things which they consider necessary or desirable to give effect to this resolution.
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England & Wales note
This version is drafted for England & Wales. Scotland and Northern Ireland differ on some points — for example notice periods and tribunal procedure. Tell GitLaw where you hire and it adjusts the draft.
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