Document background
The Board Resolution To Open Bank Account Template is a critical corporate document required when a company in England and Wales needs to establish a new banking relationship or modify existing banking arrangements. This document demonstrates proper corporate authorization in accordance with the Companies Act 2006 and satisfies banks' due diligence requirements. It typically includes details of the authorized bank, account type, designated signatories, transaction limits, and specific banking powers granted. The resolution must be passed at a properly convened board meeting with required quorum and recorded in the company's official records.
