Bank Accounts - Changing Signatories
The signatories for your society's bank account can be changed by passing a motion at a formal meeting of the society, endorsing new signatories and removing old ones. This motion should be included in the agenda for all Annual General Meetings.
Assuming you included this in your minutes of meeting, the Clubs team should have notified you to collect a bank letter from our office once your documents were accepted. If not, you should email the Clubs Office requesting a signed bank letter and include the minutes of the relevant meeting as an attachment. This letter provides directions on how to complete the handover and endorses your minutes.
You will need to bring the collected bank letter, along with proof of ID documents and a printed + signed copy of the minutes to an appointment with the bank your society is registered with.
Your minutes need to state the full name and position of the incoming signatories and the executives being removed. The outgoing President + Treasurer must provide a wet-ink signature on a physical, printed copy of the minutes for it to be accepted by NAB or CommBank.
All your incoming signatories will need to go to a branch of the bank to complete the handover. If you are continuing as a signatory, you must still attend the appointment. You should book your appointment in advance to avoid delays/being turned away.
Your outgoing/previous signatories should not need to attend if your documentation is thorough and complete but, if possible, it’s recommended to bring at least one in case there are any issues with your account.
Please note, that we do our best to communicate with the banks and update you about the details of this process but if you experience issues, it may be wise to reach out to the bank directly. If you have any questions about this process, let us know and we may be able to assist.