A banking resolution is an official document that authorizes specific individuals to manage your business’s bank accounts and perform transactions on behalf of the company. It is a crucial step in setting up your business’s financial operations.

1. Purpose and Use:

• The primary purpose of a banking resolution is to formally designate who has the authority to open and manage a business bank account. It outlines who can sign checks, make deposits, and handle other banking activities for your company.

• This document is necessary to ensure that your bank knows who is authorized to act on behalf of your business and to establish clear financial management procedures.
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2. Who Creates It:

• A banking resolution is typically created by the owners of a limited liability company (LLC) or the board of directors of a corporation. This resolution is usually agreed upon during the initial meeting of the owners or board members.

• It’s not a one-time document; it can be drafted, updated, or revised in future meetings as needed to reflect changes in management or authority.

3. Using a Banking Resolution:

• We provide a convenient banking resolution template to help your business quickly and easily complete this document. This template ensures you can efficiently open your business bank account and assign signature authority with minimal hassle.

Having a banking resolution in place is important for:

• Opening a business bank account.

• Ensuring clear and authorized access to your company’s funds.

• Maintaining proper financial controls and documentation.

If you need assistance with creating or updating a banking resolution, feel free to contact our team. We’re here to help you get your business banking set up smoothly and efficiently.