The authorised signatory is the person who completes identity verification on behalf of your business during sign-up.
Who can be an authorised signatory?
| Business type | Who qualifies |
|---|---|
| Company | A director listed on ASIC |
| Association or charity | A person on ASIC or ACNC as director, chairperson, treasurer, or secretary |
| Sole trader | You are the authorised signatory |
| Trust | A trustee or director of the corporate trustee |
Note: If the person signing up is not listed on ASIC or ACNC in one of these roles, a Letter of Authority is required.
What does the authorised signatory need to do?
During sign-up, the authorised signatory must:
- Provide their personal details (name, date of birth, role).
- Upload identification documents for verification.
- Confirm their residential address.
This is part of the KYC (Know Your Customer) process required by our banking partner.
Common questions
Can a CEO or CFO be the authorised signatory?
Only if they are also listed on ASIC or ACNC as a director or officer. If not, they need a Letter of Authority signed by a listed officer.
Can I change the authorised signatory later?
Contact support to update the authorised signatory on your account.
Why does Budgetly need an authorised signatory?
Australian financial regulations require identity verification of a person authorised to act on behalf of the business. This is part of the KYC (Know Your Customer) process.