Letter To Bank For Change In Authorised Person Template for England and Wales

When you need to change who can access and operate your bank accounts, a Letter To Bank For Change In Authorised Person provides the formal documentation required under England and Wales banking law. This essential document protects your financial interests while ensuring your bank has proper legal authority to implement changes to account signatories and authorized representatives.

When do you need this document?

You'll need this letter whenever your organization experiences staff changes, restructuring, or updates to signing authorities. Common situations include when a company director leaves, a new financial controller joins, or when a business partnership changes. Personal account holders may need this document when granting power of attorney, changing authorized representatives due to illness or incapacity, or updating family members who can access accounts. Banks require formal written notification to protect themselves from liability and ensure compliance with anti-money laundering regulations.

Key legal considerations

Your letter must include comprehensive account details, including the full account number, sort code, and account name to prevent confusion. You must clearly identify all current authorized signatories being removed and provide complete details of new authorized persons, including their full names, positions, and contact information. The document should specify the exact scope of authorization, detailing what financial powers the new person will have and any limitations on their authority. Include an effective date for when changes should take place, and ensure all existing authorized signatories sign the letter to confirm their agreement to the changes. Banks may require additional documentation, such as board resolutions for companies or proof of identity for new authorized persons.

Legal requirements in England and Wales

Under the Financial Services and Markets Act 2000 and Banking Act 2009, banks must maintain accurate records of who can operate accounts and verify the authority of all signatories. The Payment Services Regulations 2017 require banks to implement strong customer authentication and maintain proper authorization records. For companies, changes must comply with the Companies Act 2006, particularly regarding director authority and company representation. The bank may verify that proposed authorized persons are not disqualified under the Company Directors Disqualification Act 1986. Your letter must meet the bank's specific formatting requirements and include all mandatory information to avoid delays in processing. Some banks require the letter to be signed in their presence or have signatures witnessed and notarized to prevent fraud.