Why is it so hard to get a signature guarantee?
Asked by: Rupert Mraz | Last update: September 26, 2025Score: 4.7/5 (16 votes)
Why Is a Medallion Signature Guarantee So Hard to Get? Medallion signature guarantees expose financial institutions to risks and liabilities; therefore, they do not issue them readily or to just anyone. Typically, they are provided for well-established customers for a nominal fee.
Why is it so hard to get a medallion signature guarantee?
If a financial institution is not a member of a recognized Medallion Signature Guarantee Program, it would not be able to provide signature guarantees. Also, if a signer is not a customer of a participating financial institution, it is likely the financial institution will not guarantee the signature.
How to obtain a signature guarantee?
A Medallion Signature Guarantee stamp can be obtained at a bank, credit union, broker, or other financial firm. Individuals should contact the bank, credit union, broker, or other financial firm they have an account with and inquire if the institution participates in the Medallion Signature Guarantee program.
Can I be denied a medallion signature guarantee?
Yes. Your Guarantor should not provide a Medallion Signature Guarantee if: (1) all required documents are not in order, (2) the value of the transaction exceeds the surety bond limit, or (3) there is a determination that the transaction is irregular.
How much does a signature guarantee cost?
Costs for a medallion signature guarantee can vary. Typically: Banks: Some banks provide the service for free to existing customers, while others might charge a fee ranging from $10 to $25. Credit Unions: Fees can be lower than banks, often around $10, or provided for free to members.
Medallion Signature Guarantee Programs Explained
Can a lawyer do a medallion signature guarantee?
Lawyers cannot give either a regular signature guarantee or a medallion signature guarantee. Again, an institution that can do a signature guarantee probably will require that a person have an account at that institution before it will give a medallion signature guarantee.
What is the difference between a notary and a signature guarantee?
The basic difference is: Notary Stamps are for legal documents. Medallion Guarantees are for financial documents. A Notary Public is a state-appointed official who serves the public as an impartial witness when signing legal documents.
What is an alternative to a Medallion Signature Guarantee?
Signature witnessed by a bank officer: Some institutions may accept a signature witnessed by a bank officer as an alternative to a Medallion Signature Guarantee. This involves having a bank officer witness the signing of the document and then affix their signature and stamp to the document.
Is there a dollar limit for a Medallion Signature Guarantee?
Medallion Coverage Limits
Each medallion signature guarantee has a unique identification number with a letter prefix signifying the dollar amount insured by the Guarantor. Each prefix with the corresponding amount of coverage is listed below: A: $1,000,000. B: $750,000.
Who offers a Medallion Signature Guarantee?
Most large financial institutions, such as Bank of America, Chase, and Capital One, provide the Medallion signature guarantee. 4 If one of their branches does not have an on-site reviewer, the documents must be sent for review.
Does FedEx have a medallion signature guarantee?
Since we accept any liability for any forgery, we are required to verify more information than is needed for a signature to be notarized. Why? The Medallion Guarantee offers you extra protection against fraudulent transfers.
Who signs signature guarantee?
Issuing Authority: Financial institutions like banks, credit unions, and brokerage firms provide signature guarantees. Notaries public, commissioned by the state, perform notarizations. Scope of Use: Signature guarantees apply mainly in financial sectors and involve stock or bond transfers.
Does Citizens bank offer a medallion signature guarantee?
We are pleased that we have qualified for the Securities Transfer Agents Medallion Program (STAMP). A medallion signature guarantee is a special signature guarantee for the transfer of securities.
What proof do you need for a Medallion Signature Guarantee?
What types of documents do I need to provide to get a medallion signature guarantee? All medallion requests require you to provide a valid government-issued photo ID, the document or documents being stamped and supporting documents (which vary depending on the request type).
How long does it take to get a Medallion Signature Guarantee?
For your protection, a specialist handles all Medallion Signature Guarantee requests for the transfer of securities from a non-Bank of America or Merrill Edge account. In most cases, the review takes no longer than two business days after all documents are received; complex cases may take up to five business days.
Where can I get a signature guarantee without an account?
Local Banks And Credit Unions
Credit unions often offer medallion signature guarantees to their members, with some extending services to non-members for a fee.
Do banks charge for Medallion Signature Guarantee?
The cost of obtaining a Medallion Signature Guarantee can vary depending on the financial institution and your relationship with it. Many banks and credit unions offer MSGs at no cost to their account holders, particularly those who have maintained accounts with them for a certain period.
What is the Z level Medallion Signature Guarantee?
This means that if your signature guarantee is prefixed with the letter B, the value of the stock being guaranteed must not exceed $750,000. The chart below details the full range of prefixes. In the case a Medallion Signature Guarantee has a stamp with the prefix Z, they provide security up to $14,000,000.
Does Wells Fargo offer a Medallion Signature Guarantee?
Wells Fargo Financial Advisors offers its Medallion Signature Policy, exclusively to account holders through any Wells Fargo Financial Advisor. This service is free of charge.
Will TreasuryDirect accept a notary?
You must sign the paper form in the presence of an authorized certifying official available at a bank, trust company, or credit union and mail it to us for processing. Certification by a Notary Public is not acceptable.
What is the difference between a medallion guarantee and a signature guarantee?
There is no actual difference between the two: Both “signature guarantees” and “medallion signature guarantees” are used interchangeably and represent the same thing.
Does Fidelity offer a Medallion Signature Guarantee?
A Medallion Signature Guarantee can be obtained at any Fidelity Investor Center or financial institution participating in the Medallion Signature Guarantee Program.
What is an alternative to a Medallion Guarantee?
While there is no direct alternative to a Medallion Signature Guarantee, some financial institutions may accept a notarized signature as an alternative for certain transactions. However, this varies depending on the institution and the type of transaction.
Does Chase offer a medallion signature guarantee?
Several banks and financial institutions offer the Medallion Signature Guarantee service, from major ones like Bank of America, Chase, Citibank to smaller banks and credit unions.
Does a signature guarantee expire?
A medallion signature guarantee does not expire. However, the validity depends on the specific transaction it is tied to. It's best to complete the transaction soon after obtaining the guarantee to avoid complications.