Bank account with more than one signature or several people involved?
In the past and currently I am involved with many businesses, clubs and voluntary organisations, which involve my either becoming or being removed as a signatory, and in most cases having internet banking.
I find it nearly impossible to be removed from the internet banking. In one extreme case I have a now had to put a complaint to the Financial Ombusman because of a banks refusal to remove me as a signatory from my ex-employer (left 2008), and removal of my internet banking access (which I use for other business accounts with the same bank).
Before I left the employment, I completed forms which the bank say they don't have, and the bank wants me to start again, completing new forms which I then have to take to my ex-employer and get them to complete them too. I (not my ex-employer) then have to send them with a copy of my passport or driving licence to the bank and then they may remove me etc.
I still receive statements for bank accounts which have not had any money in for several years. The money was withdrawn (using my predecessors telephone banking facility) and paid into a new account with another bank, using the current officers of the organisation. The bank will not close these accounts (or make them dormant), unless I write a letter signed by the (2 to sign) signatories on file. I don't know who they are, and of course the bank will not tell me either.
In 2009, I helped a local charity for 9 months by becoming the treasurer. One account (only 2 people named as signatory) - I completed new paperwork to change the address to my address and it took 3 months to get the person (who had resigned "suddenly") to sign to agree to be removed. Due to the consititution, when the new treasurer was elected early 2010. Before handing over I contacted the bank as I had not received any statements. I was told they had rejected the paperwork and not processed it, as the address on the paperwork (my as treasurer), was not the same as the address at the Charities commission, (the charities treasurers address). This is now the new treasurers problem to sort out!
I took over a clubs accounts as treasurer, to find that everytime the club had a new treasurer (every 3 years), they would also have to open new bank accounts as they found it impossible to update or change the existing bank mandates etc. This was because the other officers had changed on more than one occassion since the account was open, and they did not know who the officers were that were recognised by the bank. When someone leaves an organisation, if the are recognised by the bank as one of the officers, not only do you need to provide full details of the person to be removed (including signature), but you also need full details of the others as the banks existing mandate. That's often where the problem lies - the existing mandate, which is often out of date. Once it is out of date it seems to be impossible to get it up to date.
Have you also had problems? What solutions have you had, apart from starting again by opening a new bank account? I would be interested to know if its a widespread problem, or is it just me?