A “Sample Letter To Add Signatory To Bank Account Nonprofit” is a formal request. It asks a bank to add someone to a nonprofit’s account. This letter is needed when a nonprofit wants to give a new person authority. They can then manage the organization’s funds. This often happens when there are changes in the board or staff.
Writing such a letter can seem daunting. You might worry about the correct format. You may also be concerned about the right wording.
Don’t worry, we’ve got you covered! This article provides sample letters. These samples will help you add a signatory to your nonprofit’s bank account. Use these as a guide to make the process easier.
Sample Letter To Add Signatory To Bank Account Nonprofit
Sample Letter To Add Signatory To Bank Account Nonprofit
[Your Nonprofit’s Letterhead]
[Date]
[Bank Name]
[Bank Address]
Subject: Request to Add Signatory to Bank Account
Dear [Bank Manager Name],
This letter is to formally request the addition of [New Signatory’s Full Name] as a signatory to our nonprofit organization’s bank account, account number [Account Number].
[New Signatory’s Full Name] is the [New Signatory’s Title] for [Your Nonprofit’s Name]. They are authorized to conduct all banking transactions on behalf of our organization, including but not limited to, withdrawals, deposits, and transfers.
We have attached the following documents for your review:
* A copy of the [New Signatory’s Name] government-issued photo identification.
* A copy of the meeting minutes where the decision to add [New Signatory’s Name] as a signatory was approved.
* [Any other required documents, e.g., updated Articles of Incorporation if needed]
Please update your records to reflect this change. We would appreciate it if you could send confirmation to [Email Address] once the changes have been processed.
Thank you for your time and assistance.
Sincerely,
[Your Name]
[Your Title]
[Your Nonprofit’s Name]
[Contact Phone Number]
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How to Write Letter To Add Signatory To Bank Account Nonprofit
1. Subject Line: Precision is Paramount
The subject line should be concise and unambiguous. Think of it as your letter’s vanguard, immediately signaling its purpose. Opt for something like:
- “Request to Add Signatory – [Nonprofit Name] Account”
- “Adding Authorized Signatory to Bank Account: [Account Number]”
2. Salutation: Initiate with Integrity
Begin with a formal salutation. While familiarity may exist, maintaining a professional tone is crucial for official correspondence.
- “Dear [Bank Manager Name],”
- “To Whom It May Concern,” (If the specific contact is unknown)
3. Introduction: State Your Intent Clearly
The introductory paragraph must articulate the letter’s rationale. Succinctly declare the intention to add a signatory to the nonprofit’s bank account. Frame it as a procedural matter.
- “This letter serves to formally request the addition of [New Signatory Name] as an authorized signatory on the [Nonprofit Name] bank account, account number [Account Number].”
- “The board of directors of [Nonprofit Name] has resolved to add [New Signatory Name] to the list of authorized signatories for account number [Account Number], effective immediately.”
4. Body Paragraphs: Furnish Requisite Details
This section forms the crux of your communication. Provide all necessary information about the new signatory and reaffirm existing signatories. Bolster the request with explicit assertions.
- “The individual we wish to add, [New Signatory Name], holds the position of [New Signatory Title] within the organization.”
- “Attached to this letter, you will find a copy of [New Signatory Name]’s identification, as well as a board resolution approving this change.”
- “Current authorized signatories on the account remain [Signatory 1 Name] and [Signatory 2 Name].”
- “We affirm that [New Signatory Name] is authorized to execute transactions and manage funds on behalf of [Nonprofit Name].”
5. Required Documentation: Leave No Stone Unturned
Explicitly mention all accompanying documents. This mitigates ambiguity and expedites processing. List each document with exactitude.
- “Please find enclosed the following documents:”
- “[New Signatory Name]’s government-issued photo identification”
- “A certified copy of the board resolution authorizing the addition of [New Signatory Name]”
- “Any other forms required by the bank for adding a signatory”
6. Closing: Cordial Yet Firm
Conclude with a professional closing. Express gratitude for their attention and proffer assistance should further clarification be needed. Evince a collaborative spirit.
- “Thank you for your prompt attention to this matter. Should you require any further information or documentation, please do not hesitate to contact us.”
- “We appreciate your cooperation in facilitating this request and ensuring the smooth operation of our nonprofit’s financial affairs.”
7. Signature and Contact Information: Epitome of Professionalism
The sign-off is your final assertion. Include the name and title of the person authorized to make this request, along with contact information for effortless follow-up.
- “Sincerely,”
- “[Your Name]”
- “[Your Title]”
- “[Nonprofit Name]”
- “[Phone Number]”
- “[Email Address]”
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Frequently Asked Questions: Adding a Signatory to a Nonprofit Bank Account
This section provides answers to common questions regarding the process of adding a signatory to a nonprofit organization’s bank account.
Understanding the requirements and procedures ensures a smooth and compliant process.
1. What information should be included in the sample letter?
The letter should include the nonprofit’s legal name, the bank account number, the name and title of the new signatory, their contact information, and a statement authorizing the bank to add them as a signatory.
2. Who should sign the letter?
The letter should be signed by an existing authorized signatory or board member, as designated by the nonprofit’s bylaws and the bank’s requirements.
3. Is a board resolution required to add a signatory?
Typically, yes. Banks often require a board resolution authorizing the addition of a new signatory, especially for nonprofit organizations.
4. What supporting documents are usually required?
You will likely need to provide a copy of the board resolution, the new signatory’s identification (e.g., driver’s license), and possibly the nonprofit’s articles of incorporation or bylaws.
5. How should the letter be delivered to the bank?
The letter should be delivered to the bank according to their specific instructions, which may include in-person delivery, mail, or secure electronic submission.