Board resolution for opening bank account is a resolution passed in a Board Meeting authorizing certain persons to open and operate the Bank account of a Company. As a Company is a separate legal entity, the board resolution for opening bank accounting is required in addition to the other documents for opening a bank account. In case the Company wishes to have Bank accounts with various banks, then separate Board Resolutions must be executed for each of the Bank in which account is to be opened.
The board resolution for opening bank account can be used for opening the bank account of a Private Limited Company or One Person Company or Limited Company. Once, the board resolution for opening bank account is generated, it can be printed on the letterhead of the business and provided to the Bank in which account is to be opened.
The board resolution for opening bank account must be printed on the letterhead of the business. The board resolution must be signed by one ore more of the Directors of the Company authorized by the Board of Directors. One copy of the board resolution can be retained with the Company while the original is provided to the Bank opening the account for the Company.