A Letter to Add Signatory to Bank Account is a fundamental banking document used when an organization or individual needs to grant signing authority on a bank account to a new person. This document is particularly relevant in the Canadian banking context, where it must align with federal banking regulations and provincial requirements. It is commonly used during leadership transitions, when expanding financial controls, or when delegating banking authorities. The letter must include specific account details, new signatory information, authorization levels, and must be executed by existing authorized signatories. Supporting documentation typically includes identity verification and, for corporate accounts, relevant corporate resolutions.
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1. Bank Information: Full name and address of the bank branch where the account is held
2. Account Details: Account number, type, and current account name/holders
3. Request Statement: Clear statement of request to add new signatory
4. New Signatory Details: Full legal name, address, and contact information of the person being added as signatory
5. Authorization Level: Specification of signing authority limits and permissions being granted
6. Current Authorization: Statement confirming that the letter is signed by existing authorized signatories per bank requirements
7. Signature Block: Space for required signatures from current authorized signatories and date
1. Effective Date: Include when the new signing authority should take effect on a future date
2. Corporate Resolution Reference: Required for corporate accounts - reference to the corporate resolution authorizing the addition of the new signatory
3. Dual Signature Requirement: Include when specifying that two signatures are required for certain transaction amounts
4. Digital Banking Access: Include when the new signatory needs online/digital banking access permissions
1. Identity Verification Documents: Copies of government-issued photo ID and other required identification documents for the new signatory
2. Corporate Resolution: For corporate accounts - copy of board resolution authorizing the addition of the new signatory
3. Signature Specimen: Official signature specimen card or form for the new signatory
4. Bank Forms: Any specific forms required by the bank for adding signatories
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