What’s a business mandate?
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:
Manage everyday banking
This includes making and/or approving payments on behalf of the business.
Apply for accounts and services
Including applying for additional accounts and finance.
Change an existing mandate
Including viewing, adding and removing people, or changing it to a new one.
Change signing rules
From being a one-signature mandate to one that needs many signatures, or the other way round.
What you need to know about changing a mandate
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You’ll need to complete our online form
Once completed, please print it, sign it and post it back to us.
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We’ll let you know when the change has been made
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.
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Information must be correct at Companies House
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.
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It doesn’t affect your business lending
When you remove a signatory (1) from your mandate they’ll still be liable for any business borrowing or lending you have.
Need help with changing your mandate?
Change your mandate over the phone
If your mandate changes are more complicated, or you don’t have access to Online Banking, call us on 0333 202 7477(2)
Important information
The Bank will continue to rely upon any security and/or guarantee(s) provided by official(s) that have been removed from the mandate (e.g., the removal of a personal guarantor from the banking mandate does not release the guarantor of any personal liability under the terms of the guarantee).
Please ensure any officials who have provided security and/or guarantee(s) remain aware that they are personally liable under the terms of the security and/or guarantee(s), and that they may wish to seek independent legal advice on this matter.(Return to reference)
Lines are open Monday to Friday, from 8.30am to 6pm. To maintain a quality service, we may monitor or record calls. Call charges(Return to reference)