A business mandate is a set of instructions that gives specific people within your business the authority to manage your bank accounts. The people listed on the mandate can:
This includes making and/or approving payments on behalf of the business.
Including applying for additional accounts and finance.
Including viewing, adding and removing people, or changing it to a new one.
From being a one-signature mandate to one that needs many signatures, or the other way round.
We aim to make your change within 14 days of receiving your signed form. If we need more information from you, it may take longer. We’ll send you a text message or letter to the contact details we have for you on your business account to let you know we’ve made the changes.
If you’re a limited company or a limited liability partnership, we can only make changes to your mandate if the personal information for all your officials is already listed at Companies House. Please check the Companies House website and make sure the details are correct before you fill in the online form.
When you remove a signatory (1) from your mandate they’ll still be liable for any business borrowing or lending you have.
