When the director who set up the account moves on, the account should move with the company, not leave with the person. Transferring ownership means naming a new main administrator and confirming who is authorised to act for the business.
Before you start
Make sure the incoming person already has (or can get) a user login on the account. It is easiest if the outgoing director is still available to make the hand-over, but if they have already left, an existing signatory or a current director can initiate it.
The hand-over steps
- Go to Account > Users & roles and set the incoming director’s role to Main administrator.
- We verify their authority against the company record before the role goes live.
- Confirm the authorised signatory and primary contact are correct for the new set-up.
- Remove the outgoing director’s access once the new administrator is confirmed.
Repayments and any active facility continue uninterrupted throughout — an ownership change is about who administers the account, not about the loan itself.
Whenever a change touches money, access or your company’s data, we verify the request is genuinely from an authorised person before we act. We will never ask you to confirm full security details by email or phone to release information or push through a change — if a message pressures you to do that, treat it as suspicious and contact us to check.
See also: Account access after a director leaves, Changing the main account administrator, Updating the authorised signatory.