A bank signatory change tracker should be separate from the ACRA director-change record. A director update does not prove that a bank mandate has changed, and a bank’s acceptance of new signing instructions does not prove the corporate filing is complete. Give each workstream an owner, required evidence and independent completion check.

Hands signing a document at an office desk
Illustrative photograph by Pavel Danilyuk.

Define the intended changes

Record whether the company is changing a director, an authorised bank user, transaction approval limits or a combination of these. A person may hold more than one role, but those roles are not interchangeable. Ask the secretary and the bank to confirm the respective procedures for the company’s circumstances.

Use the approved decision and current company particulars as the common source. Avoid circulating contradictory instructions from several staff members. Keep account access and identity documents within the company’s secure process.

Build two evidence lists

For the corporate workstream, retain the applicable approvals, consent or cessation records and accepted filing. For the banking workstream, retain the bank’s required mandate documents and confirmation. The exact bank requirements vary, so a template used with another bank is not proof that this bank has received everything it needs.

Example: the former director still appears in banking

The accepted ACRA record shows a director’s cessation, but the bank portal still lists that person in an approval role. Treat the banking item as unresolved and escalate it through the company’s authorised banking process. Do not assume that changing a public record automatically revokes access elsewhere.

Check transitions carefully

Plan how the company can continue authorised payments during the transition. This is an administration checklist, not an instruction to transfer money, share login credentials or bypass the bank’s controls. Ask the bank how pending approvals and existing users should be handled.

Close each workstream on its own evidence

Compare accepted corporate particulars with the instruction, then check the bank’s confirmed mandate and access position separately. Record exceptions instead of using one tick marked director changed. Retain both completion packs so a future reviewer can understand the sequence.

Related practical guidance

For the surrounding records and responsibilities, see maintaining statutory records, the company secretary role, company recordkeeping.

Official guidance: ACRA official guidance.

Help with your company records

For corporate secretarial and company administration support, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Tell us which records or process need attention so we can discuss the relevant next steps.