Board Resolution for Debit Card Application / Issue of ATM Card

Like an individual, a company can also apply for ATM / Debit card for its current account with the bank. But in the case of a company, the debit cards are issued in the name of the officer(s) as authorised by the company.

The bank will ask for certain supporting documents along with the Debit Card application form. One of such documents is a certified true copy of the board resolution passed in the meeting of the board of directors.

The format of such board resolution may be already prescribed by the bank. Please check at their branch office for a copy or their website to download it.

If no such template is prescribed by the bank, you can draft the board resolution on your own having all the necessary details.

You may refer the following specimen board resolution while drafting.

SAMPLE

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED BY THE BOARD OF DIRECTORS OF ................. LIMITED (THE "COMPANY") IN THEIR ...TH MEETING DULY HELD ON (DAY, DATE) AT (ADDRESS) AT (TIME).

The Chairman informed the Board that in accordance with the approval granted by the Board at its earlier meeting, a current account bearing number ...................... has been opened in the name of the company with ............ Bank.

He further stated that for the purpose of operational convenience / efficiency in the operation of the Current Account, it is proposed to apply to the Bank for Debit Card facility for Current Account so to carry out banking operations over the Automated Teller Machine ("ATM")/ Point of Sales medium(s)("POS").

The Board also noted the terms and conditions of ............ Bank in relation of operation of the bank account through debit cards.

The Board, after discussions, unanimously passed the following resolution:

“RESOLVED THAT the company do apply to ............ Bank Limited (the "Bank") for issuance of (number) of Debit Cards and Personal Identification Numbers ("PIN") for current account bearing number ............................ that have been opened in the name of the company with the Bank.

RESOLVED FURTHER THAT the following officers of the company be and are hereby authorised severally to carry out its banking operations through the use of Debit Card(s) at ATM/ POS.

Sl. No.	Name of authorized officer	Designation	ATM / POS Limit per day (Rs.)
1.
2.

RESOLVED FURTHER THAT the extent of and the manner in which the facilities can be availed by use of Debit Card(s) including the ability to transfer and/ or withdrawal and the availability of information relating to the transactions and balances in the Current Account and the limits thereof, including the charges and the conditions thereof, shall be as may be prescribed/ permitted by the Bank from time to time.

RESOLVED FURTHER THAT (Name of the Director/ Employee), (Designation) and (Name of the Director/ Employee), (Designation) be and are hereby authorized severally, on behalf of the company, to sign, execute and affirm all agreements, letters, deeds, applications, rules, declarations, releases, indemnities, affidavits, waivers, undertakings, any other documents as may be prescribed/ required by the Bank from time to time for carrying out banking operations through Debit Card(s).

RESOLVED FURTHER THAT a copy of the foregoing resolution be furnished to the Bank, certified as a true copy by (Name of the Director / CS), (Designation) and (Name of the Director), (Designation) of the company and that the Bank be requested to act and rely upon the said resolution.”

For (Name of the Company),

   signature                                                                  signature

(Name of the Director/ Company Secretary)     (Name of the Director)

DIN/ Memb. No.: .......................................           DIN: ...........................