I am writing procedures and would like to know what you do at your financial institution when changing signers on a commercial account. If there are only two signers at account opening and then one signer comes in later requesting the other signer be removed what are your procedures? What additional documentation, if any, do you require?

It would be important to figure out what type of "business" account you are talking about. For example, if this is a corporation, then the corporation should provide the bank with a new board resolution designating new/current corporate signers. The same would hold true with other types of formal organizations - a resolution would be required from the appropriate governing body of the organization. If this is an informal relationship, I would recommmend closing the account and opening a new account.

We usually ask for meeting minutes from that Board meeting that discuss which signers are being added and which signers are being removed. Once we have the meeting minutes we have all of the signers complete a new signature card and a new resolution.