If you are interested in obtaining a free Medallion Signature Guarantee, you might be wondering where you can get one. Take a look at a few helpful tips on where to find one.
What is a Medallion Signature Guarantee?
A Medallion Signature Guarantee is a specific type of stamp that is used when you transfer or sell securities in the United States. The stamp confirms that the signature authorizes the transfer or sale of that specific security. The stamp also signifies that the person signing the document has the authority and legal capacity to initiate the transaction.
Every Medallion Signature Guarantee comes with an alpha prefix printed on the stamp. If the value of the sale or transfer is over the limit, then the Medallion Signature Guarantee will be rejected. The Medallion Signature Guarantee only authorizes that specific transaction. It does not authorize any future transactions, each of which has to go through its own separate process.
Where To Get a Medallion Signature Guarantee in the United States
Individuals in the United States can get a Medallion Signature Guarantee from organizations that take part in the Securities Transfer Agents Medallion Program (STAMP), the Stock Exchange Medallion Program (SEMP), or the New York Stock Exchange Medallion Signature Program (MSP). There are several credit unions, banks, brokers, and other financial firms that take part in these programs and offer a Medallion Signature Guarantee.
What Banks Provide a Medallion Signature Guarantee?
There are several banks in the U.S. that provide a Medallion Signature Guarantee. Some of the banks and credit unions to consider include:
Bank of America
Fifth Third Bank
First Midwest Bank
Great Western Bank
Navy Federal Credit Union
Northeast Credit Union
Of note, these banks will generally only perform the service if you have an account with them. In addition, not all of their locations offer a Medallion Signature Guarantee. Therefore, you should call in advance to make sure you can get a Medallion Signature Guarantee at that specific location.
What Stock Brokers Provide a Medallion Signature Guarantee?
Generally, any broker that you have an account with should be able to provide a Medallion stamp on any of your stock transfers. These may include:
Colonial Stock Transfer Medallion Waiver Program
Stockholders of companies that use Colonial Stock Transfer for their transfer agent can rely on its Medallion Waiver Program for foreign and some domestic shareholder transfers. Get started with our transfer agent services, learn more today.