When drafting a request letter to the bank for a change in partnership, it's crucial to maintain clarity and politeness while providing all necessary details. Clearly state the name of the company, the current and new partner's details, and the account number. Attach relevant documents, such as partnership deeds or certificates, and express authorization for the new partner to manage the account. Anticipate a prompt and kind response from the bank.

Table of Contents:

Sample Letter for Change in Partnership

The Manager,
_________ (Bank Name),
_________ (Address)

Date: __/__/_____ (Date)

Subject: Change in partnership

Respected Sir/ Madam,

My name is _________ (Name) and I am writing this letter on behalf of _________ (Company name).

We would like to inform you that we hold a bank account in your branch bearing account number __________ (Account Number). This is to inform you that the partner of our firm has been changed from ____________ (Partner Name) to ___________ (Partner Name), __________ (Designation). We write this letter to request you to guide us on the procedure for updating the details of the new partner.

We hereby authorize the mentioned person to maintain our bank account and make any required monetary transaction on our behalf as mentioned on the _______ (annexure/deed/certificate). Kindly find the __________ (Mention required documents) attached herewith along with this letter for your kind reference.

We look forward to your quick and kind response.

________ (Company Name),
________ (Signature),
________ (Name),
________ (Designation)

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  • What documents should be provided to the bank when requesting a change in partnership?
    • Typically, the bank may require documents such as the updated partnership deed, a resolution passed by the partners, and any identification documents of the new partner.
  • Is it necessary to inform the bank about changes in partnership?
    • Yes, it's important to inform the bank about changes in partnership to ensure that the bank records are accurate and up to date. This helps avoid any complications with account management and transactions in the future.
  • Can the new partner immediately start managing the bank account after the change in partnership?
    • Yes, once the bank updates its records with the details of the new partner and receives the necessary authorization documents, the new partner can begin managing the bank account and conducting transactions on behalf of the company.
  • How long does it typically take for the bank to process the change in partnership request?
    • The processing time may vary depending on the bank's internal procedures and the completeness of the documentation provided. Generally, it may take a few days to a couple of weeks for the change to be reflected in the bank's records.
  • Is there any fee associated with updating partnership details with the bank?
    • Banks may or may not charge a fee for updating partnership details. It's advisable to check with the bank regarding any applicable charges before submitting the request.

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