It’s understandable that many people are not familiar with the term Medallion Signature Guarantee until they are in a position to require one. For this reason, we have put together a snapshot of the most frequently asked questions about medallion signature guarantees to help you better understand what they entail and their benefits.
What Are Medallion Signature Guarantees?
A medallion signature guarantee is an exclusive certification stamp that confirms the validity of the signature authorising the transfer of securities. Before approving the transfer of securities, transfer agents usually require this guarantee.
In What Situation Might I Need a Medallion Signature Guarantee?
A Medallion Signature Guarantee is needed when you want to sell or transfer securities. Examples include bonds and stocks.
Where can I Obtain A Medallion Signature Guarantee From?
Customers of conventional financial institutions can get Medallion Signature Guarantees from banks, credit unions, and brokerage houses. Typically, you must sign up for an account with them, and there can be a fee for the service.
Is It Possible To Get A Medallion Signature Guarantee Online?
Medallion Signature Guarantees are offered by some internet vendors. However, many financial institutions need personal attendance. It is best to confirm whether online service is provided with each individual supplier.
What Information Is Needed To Obtain A Medallion Signature Guarantee?
Along with the original security certificate or transaction statement, you must present identification that has been granted by the government. Depending on the banking institution, other details, such as account numbers, could be needed.
How Does a Medallion Signature Guarantee Differ From a Notary Stamp?
A Medallion Signature Guarantee offers assurance for the recipient, whereas a Notary Stamp only confirms the signer’s identity, protecting against fraudulent transactions.
Do Medallion Signature Guarantees Have An Expiration Date?
A Medallion Signature Guarantee often has no expiration date. Transfer agents, however, could have particular timing standards and might not accept a guarantee stamp that is too old.
What Fees Are Involved When Getting A Medallion Signature Guarantee?
While some financial institutions may charge a nominal fee, many offer this service to account customers without charge. It is important to inquire about potential fees with your bank or financial institution.
Hopefully, this list of Frequently Asked Questions has helped you to understand medallion signature guarantees and their purpose.
Contact Medallion Guarantee on 0203 985 9551.