Board Resolution For Bank Account Signatory Template for the United States

A banking resolution is how your board puts an authorized signatory list on record so a bank will let named people operate the company's accounts. It confirms that the directors have approved specific individuals to open accounts, sign checks, order wire transfers, and manage funds and banking services for the company. Banks treat this document as their proof of corporate authority, and most will not set up or change an account until they have a signed copy on file.

What is a banking resolution?

It is a written record of a board decision that identifies each authorized signatory by full legal name and title and states exactly what each person may do with the company's bank accounts. A well-drafted resolution covers account opening, deposits, withdrawals, check signing, wire and ACH transfers, online banking access, and the ability to close accounts. It also states whether one signatory can act alone or whether two or more members must sign together for certain transactions. "Banking resolution" and "bank resolution" are used interchangeably for this document; both name the same board authorization your bank keeps on file.

When do you need this document?

You'll use this resolution when opening a new corporate bank account, since financial institutions ask for formal board authorization before establishing a business relationship. Banks also request an updated resolution when you add or remove authorized signatories, change account permissions, or modify online banking access. Companies restructuring their financial management or onboarding new executives with banking responsibilities put a fresh resolution in place. Some banks ask for a refreshed signatory resolution on a set schedule, often annually, to keep authorization records current.

Who uses a banking resolution?

Corporations, LLCs, and nonprofits all use banking resolutions to give their bank a clear record of who may act on the accounts. For a small business or growing company, it is often the first governance document a bank asks to see. Nonprofits use the same structure to authorize officers or board members to handle grant funds and operating accounts, and to satisfy funders who want documented financial controls. The format is close to a corporate resolution granting signing authority, narrowed to banking matters.

Key points to get right

Define the scope of authority for each signatory, including check-signing limits, wire transfer permissions, and online banking access levels. Set dual-signature thresholds for large transactions to reduce fraud risk, and state whether signatories act individually or must sign in combination. Include a plan for emergencies where a primary signatory is unavailable, and cover succession for key financial roles. Many companies limit the duration of signatory powers and build in a review period so the authorized list stays accurate.

What information goes into it?

Include the following content so the bank can process the account without back-and-forth:

• The company's legal name and entity type
• The date and place of the board meeting or written consent
• The names and titles of every authorized signatory
• The specific banking powers granted to each, plus any transaction limits
• Contact details for the certifying officer, such as a phone number or email, where the bank asks for them
• The signature of the authorized officer certifying the resolution

Banks match these details against their own forms, so complete legal names and identification details help the account open without delay.

How does it work with your other governance documents?

A banking resolution sits alongside your Articles of Incorporation and bylaws, which set out how banking authority can be delegated. If an earlier resolution named different signatories, the new one should supersede it so the bank works from a single current record. You can generate and adapt this and related governance documents from GenieAI's board resolution templates, then download a signed copy for your bank.

Legal context in the United States

Federal identification rules mean banks verify each authorized signatory and keep current documentation of their authority, so your resolution should carry complete legal names, titles, and identification details for everyone listed. Federal Reserve guidance leads banks to obtain proper corporate authorization before opening an account, which is why the resolution is a standard part of onboarding. State corporate laws differ, but they generally expect the resolution to follow a set format, reference proper meeting or written-consent documentation, and show lawful board authority. The resolution is signed by an authorized officer and, depending on the state and the bank's policy, may need notarization.