Why must a signature card be completed in a banking context?

A signature card is an essential document that needs to be completed in a banking context primarily to establish the authorized signatories on a bank account. When opening a checking account, financial institutions require this card to verify the identities of individuals allowed to access the account and conduct transactions. The signature card serves as a reference point for the bank to authenticate signatures on checks and withdrawal slips, ensuring that only individuals authorized by the account holders can manage the funds.

This process helps in maintaining account security and assists the bank in preventing unauthorized access or fraudulent activities. By defining who is permitted to act on behalf of the account, the signature card protects both the account holder and the bank.

The other options listed pertain to different financial activities that do not relate to the specific requirements for opening a checking account. Each process serves different purposes, but they do not necessitate the establishment of authorized signatories in the same manner as the completion of a signature card does for banking services.