Item: Board Resolution Format For Internet Banking
Author: Muhammed Fasil K

Board-Resolution-Format-Internet-Banking

Board Resolution Format For Internet Banking

For availing of the internet banking facility by any company approval of the board of directors of the company is required to be taken. This approval may be obtained by way of a resolution passed at the board meeting and even through circular resolution. A draft format of board resolution for internet banking facility is provided below for ready reference ;

"RESOLVED THAT the company do avail the ______ e-banking Corporate Service for the accounts opened/to be opened with _______ Bank at their various Branch(es) and the company accepts all terms and conditions of _____ Bank and further/do accept such terms, regulations, conditions, stipulations laid down by _______ Bank from time to time for the purpose. Copy of the existing Terms and Conditions is received by the company, which is enclosed to this resolution as token of company’s agreement. Modification of such Rules placed by Bank on its website is sufficient and valid notice to the company."

"RESOLVED FURTHER THAT the company do execute necessary documents, agreement form(s), authority letter(s) and/or any other related documents from time to time for this purpose."

"RESOLVED FURTHER THAT the following officials be hereby singly/jointly authorized to accept sign, execute, deliver and complete all documentation, agreements, accounts opening forms and accept and abide by the modifications and/or variations in any or all the terms and conditions from time to time and, in order to apply for and avail and operate the "_____ e-banking Corporate" facility provided by the ______ Bank and any change in the above mandate shall be by a fresh resolution passed by company’s Board and by intimating the same to Bank."

1. _____________(Authorized Signatory)

2. _____________(Authorized Signatory)

3. _____________(Authorized Signatory)

"RESOLVED FURTHER THAT the above authorized officials are also authorized to operate on behalf of the company through ‘_____ e-banking Corporate’ service on the company’s accounts including by causing a debit balance in company’s account(s) with _____Bank and/or continually operate the account(s) even when overdrawn, as per the access specifications authorized herein above."

"RESOLVED FURTHER THAT _____Bank be and hereby authorized to accept all instructions given or initiated through the ‘____ ebanking’ service Corporate either singly or jointly from all or any of the above instructions by the above signatories in the manner provided hereinabove."

"RESOLVED FURTHER THAT a copy of this resolution be and hereby be submitted to _____Bank duly certified by the company secretary of the company."

The above draft board resolution for availing of internet banking facility is only for reference purposes, make sure to incorporate necessary changes as per your requirements, before using this draft.

Draft Board Resolution For Change in Authorised Signatory for Bank Account

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Board Resolution Format For Internet Banking

Board Resolution Format For Internet Banking

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