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Michael Holly
Michael Holly, Solicitor
Category: Law
Satisfied Customers: 6969
Experience:  I have 20 years of experience as a solicitor in litigation and other areas
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Does company directors open a bank account or is it

Customer Question

Does company directors open a bank account or is it shareholders ? We have 3 directors
3 shareholders. Santander bank already have done a know your customer but 1 shareholder does not want to change banks can we still go ahead ?
Submitted: 1 year ago.
Category: Law
Expert:  Michael Holly replied 1 year ago.

The answer lies in the Articles and Memorandum of your company but the chances are it is the Directors.

This is because the shareholders own the company but the directors are empowered to run it.

It all comes down to what the shareholders have empowered the directors to do or whether a shareholder vote is required on it.

Best regards

Michael