William Lipovsky
To get a medallion signature guarantee, you’ll usually have to visit a bank, credit union, or brokerage firm with documentation proving your ownership of the securities you want to transfer.
Bank of America, Chase Bank, Fifth Third Bank, Navy Federal Credit Union, Edward Jones, and Morgan Stanley are some of the financial institutions that offer medallion signatures — though only for accountholders.
Additionally, eSignature Guarantee provides a remote option for those who cannot visit a branch or are not a member at a guaranteeing institution.
Below, we explain what exactly a medallion signature guarantee is and provide the list of banks, credit unions, and brokerages that do and don’t offer medallion signature guarantees.
What Is a Medallion Signature Guarantee?
A medallion signature guarantee is most commonly used when you own a physical security, such as a stock or bond, and want to sell or make a transfer without a broker.
Transfer agents commonly require that your signature be “guaranteed” before you can complete any transactions. This helps prevent individuals from fraudulently posing as you and forging your signature to sell the stock.
A signature guarantee is also a way for transfer agents to reduce their liability since an outside agency takes responsibility for verifying your identity. So it’s just a matter of proving you are who you say you are.
There are three different medallion signature guarantee programs, all of which are equally valid. Different types are simply used by different organizations, as outlined below:
- Securities Transfer Agents Medallion Program (STAMP): Used by the United States and Canadian financial institutions, STAMP is open to all signature guarantors.
- Stock Exchanges Medallion Program (SEMP): Used by regional stock exchange member firms and trust companies, SEMP is open to all members of the American Stock Exchange, New York Exchange, Boston Stock Exchange, Midwest Stock Exchange, Pacific Stock Exchange, and the Philadelphia Stock Exchange, as well as clearing and trust companies.
- New York Stock Exchange Medallion Signature Program (MSP): Used only by firms that are members of the New York Stock Exchange, MSP is only used for applicable transfers and sales.
What Documentation Is Required?
To get a medallion signature guarantee, you’ll generally be required to visit the guarantor in person and present:
- Documentation showing the exact and complete ownership of the security
- Documentation showing the value of the transaction
- Documentation showing your legal authority (if you are signing on behalf of another individual)
- Photo identification
- Proof of name change as a result of marriage, divorce, or legal name change (if applicable)
Requirements may vary slightly, so it’s always a good idea to check document requirements with your specific provider before leaving home.
For those who are unable to visit a bank, credit union, or brokerage firm in person — such as those who are overseas or homebound — it’ll be more difficult to get a medallion signature guarantee.
However, for a fee, you can get a medallion signature online through eSignature Guarantee. You’ll still need to provide documentation proving your identity and ownership of the security. We detail this option in our list below.
If overseas, you can try contacting the U.S. Embassy for assistance. You may also want to try contacting the transfer agent or the company requiring the medallion signature guarantee to explain your situation and ask for assistance.
Locations that Offer Medallion Signature Guarantee Services
Banks and Credit Unions
Banks and credit unions generally don’t detail the process for obtaining medallion signature guarantee services on their websites, so we reached out to each of these financial institutions’ corporate offices to confirm the following information.
Many of these banks and credit unions only offer medallion signature guarantees at some of their branches. When this is indicated, it’s best to use the location finders we’ve included and contact your local branch to see if it provides medallion signature guarantees.
Bank of America
Bank of the West
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Either free or $10, depending on the branch
- Find your nearest Bank of the West branch
Capital One
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free
- Find your nearest Capital One branch
Chase Bank
Citibank
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free
- Find your nearest Citibank branch
Citizens Bank
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free
- Find your nearest Citizens Bank branch
Digital Credit Union (New Hampshire and Massachusetts)
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free
- Find your nearest Digital Credit Union branch
Dollar Bank (Pennsylvania and Ohio)
- Medallion signature policy: Available at all locations and only for account holders
- Cost: Free
- Find your nearest Dollar Bank branch
Fifth Third Bank
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free
- Find your nearest Fifth Third Bank
First Interstate Bank
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Varies by location
- Find your nearest Great Western Bank branch
First Midwest Bank
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free
- Find your nearest First Midwest Bank branch
First Republic Bank
- Medallion signature policy: Available at some locations and only for account holders of over one year; securities being transferred must be $2 million or less
- Cost: Free
- Find your nearest First Republic Bank
HSBC
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Varies; each branch manager has discretion when it comes to fees
- Find your nearest HSBC
KeyBank
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free
- Find your nearest KeyBank branch
Navy Federal Credit Union
- Medallion signature policy: Available at all locations and only for account holders
- Cost: Free
- Find your nearest Navy Federal Credit Union branch
Northeast Credit Union
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free
- Find your nearest Northeast Credit Union
Northwest Bank
- Medallion signature policy: Available at some locations and only for account holders
- Cost: $10
- Find your nearest Northwest Bank
PNC Bank
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free
- Find your nearest PNC Bank branch
Regions
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free
- Find your nearest Regions Bank
TD Bank
- Medallion Signature Policy: Available at most locations and only for account holders; TD Bank strongly recommends contacting your local branch before visiting to ensure the service is available and also to confirm necessary documentation and forms of identification.
- Cost: Free
- Find your nearest TD Bank branch
Union Bank & Trust
- Medallion signature policy: Available at some locations and only for account holders
- Cost: $50
- Find your nearest Union Bank & Trust branch
U.S. Bank
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free
- Find your nearest U.S. Bank branch
Wells Fargo
- Medallion signature policy: Available at some locations and only for Wells Fargo clients who have had an active Wells Fargo account (including mortgage accounts) for at least 60 days
- Cost: Varies by location
- Find your nearest Wells Fargo branch
Brokerage Firms
Medallion guarantee stamp locations are fairly common at brokerage firms but only for account holders.
Brokerage firms generally don’t detail the process for obtaining medallion signature guarantee services on their websites. Thus, we reached out to each of their corporate offices to bring you the following information.
If you have a good relationship with your brokerage firm, you can request for your stocks to be held in “street name.” This means the stocks are recorded as being held by your brokerage firm instead of you personally.
When it comes time to sell the stocks, no signature guarantee will be necessary since the seller of records is the brokerage firm.
Ameriprise Financial
- Medallion signature policy: Available at some locations and only for account holders. You must initiate paperwork through your local office, which will then be processed through Ameriprise Financial’s central office.
- Cost: Free
- Find your nearest Ameriprise Financial branch
Charles Schwab
- Medallion signature policy: Available only at the company’s operation centers in Phoenix and Orlando and only for account holders. Both the operation center in Phoenix and the operation center in Orlando will receive documents via regular mail and overnight mail. Contact your local branch for more information regarding specific documents required to be submitted to the Operations Center for verification.
- Cost: Free
- Find your nearest Charles Schwab branch
Edward Jones
- Medallion signature policy: Available at all locations and only for account holders. You must initiate paperwork through your local office, which will then be processed through Edward Jones’ central office.
- Cost: Free
- Find your nearest Edward Jones branch
Fidelity Investments
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free
- Find your nearest Fidelity Investments branch
Merrill Lynch
- Medallion signature policy: Available at all Wealth Management Services locations and only for account holders
- Cost: Free
- Find your nearest Merril Lynch branch
Morgan Stanley
- Medallion signature policy: Available at most locations. Smaller locations may not be able to provide services on-site but can forward the paperwork to a larger location. The service is only available to account holders. Morgan Stanley will provide medallion signature guarantees only if funds are coming into a Morgan Stanley account, not if funds are leaving a Morgan Stanley account.
- Cost: Free
- Find your nearest Morgan Stanley branch
Raymond James
- Medallion signature policy: Available at some locations and only for account holders
- Cost: Free or varies by institution
- Find your nearest Raymond James branch
Wells Fargo Financial Advisors
- Medallion Signature Policy: Available through any Wells Fargo Financial Advisor and only for account holders
- Cost: Free
- Find your nearest Wells Fargo Financial Advisors branch
Online Signatures
We were unable to find any financial institutions that will grant a medallion signature guarantee to anyone unless they’re an account holder with that bank, credit union, or brokerage firm.
We did, however, find one company that offers a medallion signature guarantee online and doesn’t require membership with a particular financial institution.
eSignature Guarantee
- Medallion Signature Policy: Verify your identity online, make your payment, upload or mail in your documents, and receive your medallion signature guarantee
- Cost: $149 per medallion stamp, plus shipping if you choose to mail in your supporting documents rather than use digital delivery
- Find out more by visiting the eSignature Guarantee website
Locations that Don’t Provide Medallion Signature Guarantee Services
During our research, we found that the following financial institutions do not offer medallion signature guarantees.
Banks and Credit Unions
- San Diego County Credit Union
Brokerage Firms
- E-Trade
- Scottrade
- TD Ameritrade
Hi,
Do you know if there is any bank or broker in Puerto Rico that I can get the Medallion Signature Guarantee?
Hi,
Do you know if there is anywhere in Argentina to get the Medallion Guarantee Stamp? I have already been to the Citibank and they said they haven’t done it or heard of it before.
Thanks in advance!
Cecilia,
Since Medallion Signature Guarantees are only available to members of banks, credits unions, and brokerages based in the United States and Canada, you may have a difficult time finding MSG services in Argentina. I recommend contacting other branches of the banks, credit unions, and brokerages mentioned in our article, specifically those that offer this service to non-members, and see if they offer MSG services near you. I hope this helps!
Thanks a lot Sarah, I will try with that! Have a nice day
Whoops, looks like I submitted my last comment slightly incomplete; there was supposed to be one more sentence about Scottrade at the end:
From personal experience as of 2017, Scottrade will provide MSGs to account-holders, but only if Scottrade is one of the parties involved in the transaction, not as a third party (same as Schwab).
My original long comment that this was an addendum to is still stuck in the moderation queue since yesterday; hope some staff member here can free it soon, it has a lot of useful information in it to add to your list.
Anon,
I’ve approved your comments; thanks for your patience! We really appreciate the value you’ve added for our readers.
Anon,
I spoke to a representative of Scottrade and was told that they do not provide MSGs in their branches, although they may sometimes provide that service for certain internal transfers. One would need to contact each branch as their policies vary by location, account holder, and the type of document needing an MSG. The representative I spoke to felt that it would incorrectly represent Scottrade’s offerings to place them on a list of brokerages that do offer MSGs, so I’ve updated the article accordingly. Thank you again for sharing your findings with us.
I have some contributions to this important reference:
Surprisingly tricky to find, http://www.federatedinvestors.com/FII/customerservice/accountmanagementhelp/detail.do?cid=64865 is the official list of Medallion Signature Guarantee (aka Securities Transfer Agents Medallion Program – STAMP, and Signature Validation Program Stamp – SVP) transaction value limit levels. The official primary indicator of a participating institution’s limit is a code-letter on the stamp imprint, rather than the color of the ink as I’ve sometimes seen mentioned (‘gold’, ‘green’, etc).
The above link appears to indicate that local credit unions typically participate at the $100,000-limit level. But https://www.bogleheads.org/forum/viewtopic.php?t=146329#p2181375 as of 2014 mentions an unnamed credit union with the $500,000 limit.
From https://www.bogleheads.org/forum/viewtopic.php?t=146329#p2266730 as of 2014, some institutions with a limit lower than you need to transfer may be willing to split up your transaction into multiple smaller transactions and MSG-stamp them all in the same visit anyway.
From personal experience as of 2017: Chase Bank provides MSGs to account-holders at the maximum limit, $10-$14 million per transaction. A high percentage of their branches do participate, and the branch locator on their website will tell you up-front which ones near you offer it. From https://www.bogleheads.org/forum/viewtopic.php?t=156438#p2351894 as of 2015, Chase appears to require a 30-day minimum as an account-holder.
From https://www.bogleheads.org/forum/viewtopic.php?t=156438#p2347377 as of 2015: Wells Fargo bank counts a mortgage as an MSG-eligible account, even if you don’t have other types of accounts with them. From personal experience as of 2017: the 60-day minimum time as an account-holder to get an MSG from Wells Fargo is still accurate. A high percentage of their branches do participate. (From https://www.bogleheads.org/forum/viewtopic.php?t=156438#p2401390 as of 2015, even locations in grocery stores.)
From http://www.early-retirement.org/forums/f28/medallion-stamps-80098.html#post1675041 as of 2015: Dollar Bank provides MSGs to people who’ve had an account at least 12 months.
From http://www.early-retirement.org/forums/f28/medallion-stamps-80098.html#post1675116 as of 2015: Citizens Bank provides MSGs to any person with an account, even one opened the same day.
From http://www.early-retirement.org/forums/f28/medallion-stamps-80098.html#post1675445 as of 2015, and personal experience as of 2017: BBVA Compass Bank provides MSGs to account-holders (time requirement unknown), only at some locations (call).
From https://www.bogleheads.org/forum/viewtopic.php?t=146329#p2266490 as of 2014, https://www.bogleheads.org/forum/viewtopic.php?t=156438#p2349570 as of 2015, and https://www.bogleheads.org/forum/viewtopic.php?t=204948#p3142458 as of 2016: US Bank provides MSGs for account-holders, but may be more persnickety than others about the paperwork.
From https://www.bogleheads.org/forum/viewtopic.php?t=213857#p3283289 as of 2017: Capital One provides MSGs for account-holders.
From https://www.bogleheads.org/forum/viewtopic.php?t=213857#p3283511 as of 2017: Digital Credit Union (in MA and NH) provides MSGs for account-holders.
Brokerages:
From personal experience as of 2017: At least some locations of Wells Fargo Financial Advisors unfortunately no longer offer MSGs to non-accountholders for a ‘small fee’ as had been mentioned in your list. The location I just called said “you have to have an account with this location”; I’m unsure if they meant ‘at this location, we only give MSGs to account-holders’, or ‘you must have an account which is tied to the specific location at which you want to ask for the MSG’.
From https://www.bogleheads.org/forum/viewtopic.php?t=213857#p3283995 as of 2017: Charles Schwab’s “limited circumstances” means Schwab must be involved in the transaction (moving money in or out of your Schwab account), they won’t give an MSG as a third party.
From https://www.bogleheads.org/forum/viewtopic.php?t=213857#p3284147 as of 2017: TD Ameritrade provides MSGs for account-holders.
From https://www.bogleheads.org/forum/viewtopic.php?t=41005#p524368 as of 2009: Etrade does not provide MSGs.
From http://socialize.morningstar.com/NewSocialize/forums/194860/PrintThread.aspx as of 2007: Scottrade does not provide MSGs.
Anon,
You’ve done some very thorough research, and I appreciate you letting us know what you found! I’ve made some calls and done some additional research to verify what you shared with us, and I’ve made changes to the article accordingly, as follows.
Banking:
I spoke to a representative of Chase Bank and learned that they offer MSGs to all account holders, regardless of how long they have had an account, so it sounds like the information you found may no longer be applicable.
I spoke to a representative with Wells Fargo and learned that you are correct; they do offer MSGs to even those customers who have only a mortgage account with Wells Fargo, and I’ve added that information to our article.
I verified the information you shared with us about Dollar Bank (located in Pennsylvania and Ohio) with a customer service representative; while you were correct in stating that they offer free MSG services to account holders, there is no minimum time that an account holder must have had the account open. Dollar Bank offers MSG services at all of their locations and I’ve added this information to our article.
I verified the information you found about Citizens Bank with a customer service representative; you were correct in stating that they offer MSGs to all account holders, even those who’ve just opened an account the same day, and I’ve added that information to our article.
I spoke with a representative of BBVA Compass Bank and verified that they offer MSGs to account holders at a limited number of locations, even to new account holders, and I’ve added that information to our article.
I called US Bank and spoke with a customer service representative, who verified that they do provide MSGs to account holders at some locations (he recommended calling your branch to verify that they provide the service) and I’ve added that information to our article.
I spoke with a representative of Capital One and verified that they do provide MSGs to account holders, and I’ve added that information to the article.
I spoke with a customer service representative with Digital Credit Union (in Massachusetts and New Hampshire) and learned that they do offer MSGs for account holders (limit of up to $100,000 per transaction). I’ve added this information to the article.
Brokerages:
When it comes to brokerages, you’re absolutely right in stating that Etrade doesn’t provide MSGs, which is why we haven’t included them in this article, and you’re also correct in noting that Charles Schwab only provides MSGs in limited circumstances, which we’ve advised our readers of above.
I spoke to a representative of Scottrade and was told that they do not provide MSGs in their branches, although they may sometimes provide that service for certain internal transfers.
You are also completely correct in stating that Wells Fargo Financial Advisors don’t provide MSGs to non-account holders, and I’ve corrected that information in our article. Thank you so much for bringing that to our attention.
I called TD Ameritrade and spoke to a customer service representative to verify their current offerings, and I learned that they do not currently provide MSGs for account holders (though perhaps they did so in the past). I’ve edited our article to include a section about brokerages that don’t offer MSGs so our readers aren’t let wondering in the future.
Thank you again for sharing your findings with us, and please let us know if you have any additional questions or comments.
Thanks! 🙂
My wife worked for a company that no longer exists. They offered a 401k plan thru Invesco. The Trustee has a MSG account and transferred their Invesco 401k to MSG. They got the required Medillion Stamp Signature Guarantee that was needed from MSG. Would MSG allow the Trustee to use your Medillion stamp service to allow us to transfer the account?
Would we be required to open a MSG account or could we roll it over somewhere else?
Thank you
Al,
Although First Quarter Finance is not a Medallion Signature Guarantee service, we’re happy to point you in the direction of some companies that might be able to help you to roll over your wife’s 401k account. To find out which company is right for you, you’ll want to confer with the Trustee to determine what your priorities are. A variety of banks and brokerage accounts, as listed in this article, provide Medallion Signature Guarantee services, and if you’re already a member of one of them, it should be easy to locate one near you and take advantage of those services. To clarify, a Medallion Signature Guarantee doesn’t open an account nor provide an account of any kind but is simply a way to guarantee that the person transferring stocks or securities is the rightful owner of the same. I hope this helps! Please contact us if you have any additional questions.
Since a Medallion signature guarantee is required for transferring investment shares, would the MSG still be required if shares are liquidated in the current account and then request transfer of cash. I am the executor of my mother’s estate where one of her brokerages is requiring a MSG. As executor I could order the shares be sold.
Kerry,
That’s a great question. Many investment accounts do require a Medallion Signature Guarantee for transferring or selling shares, but they may not require one to simply transfer cash (unconnected to shares) out of an investment account. Since policies can vary depending on the account, the best way to find out is to directly contact your mother’s brokerage and ask whether or not they’d require the MSG for transferring cash resulting from liquidated shares. Hope this helps!
I’m have the same issues that I’m reading on this site my father passed away and I did an Icash unclaimed property search and found money and shares in his name so I took the necessary steps to claim the funds. He used to work for GE and come to find out when they reported the funds they attached someone else’s Soc.Sec. number to it now I’m jumping thru all these hoops to get what is my father’s. I’m in Illinois and my bank doesn’t dobthe medallion signature guarantee and every other Bank only does it for clients help
Hi Brittany,
Unfortunately, if the company you’re working with to secure the assets requires a Medallion Signature Guarantee to transfer the funds, there is not a replacement or equivalent process that you can follow to avoid the need for a Medallion Signature Guarantee. If your bank does not offer this service, the only option may be to open an account with a firm, bank, or credit union that does provide this service, such as Chase, Charles Schwab, Citibank, or PNC Bank. Keep in mind that the authority to grant Medallion Signature Guarantees is given at the branch level, so it’s worth checking that this service is available at your local branch if you do decide to sign up for an account at another financial institution. I’m sorry I couldn’t bring you an easier answer! Best of luck getting this resolved, and please let me know if I can answer any further questions.
I’m running into a similar problem as many others – my bank doesn’t offer the MSG, and none of the banks I’ve contacted (including Wells Fargo and Key Bank) offer it for non-account holders. Do you know of any banks specifically in the Philadelphia area that do MSG for non-account holders?
Hi Sam,
Unfortunately, I wasn’t able to find any banks or financial institutions in the Philadelphia area that offer this service to non-account holders. It seems that if you need a Medallion Signature Guarantee, the only option may be to open an account with a bank that does provide this service (such as TD Bank, Chase, etc.). I’m sorry I couldn’t bring you better news!
I have a REIT (Real Estate Investment Trust) held at Ameriprise Financial (and have been a client for over twenty years). I decided that I wanted to hold the security directly and avoid any “holding tank” fees, so I recently decided that I wanted to deal directly with the REIT company (Highlands REIT). Ameriprise will not medallion stamp the paper work as the investment would not be “coming their way”……Hghlands real estate investment firm will not medallion stamp it, so I finally had to give up and when this REIT has a liquidation event, I will leave skid marks when I run out to liquidate it. This – in my opinion – is a archaic law and it is insulting to have to go through such steps to prove that “I am who I am” – especially to a firm like Ameriprise when I have been a client for over twenty years !!!! Now, a notary I can understand, but this whole medallion stamp ordeal is RIDICULOUS !!!!! I have bought houses and moved cross-country with less hassle than I have over this $900. investment !!!!!! Very offensive to us honest folk, for sure. Crazy, just crazy. Your thoughts ?
Hi Wendy,
As you can tell by the comments section here, you’re definitely not alone! The Medallion Signature Guarantee process can be extremely difficult for anyone. The cause of this is ultimately a side effect of the purpose of the Medallion Signature Guarantee program, which is to reduce the liability of the transfer agent who’s handling the transaction. That liability is instead taken on by the financial institution issuing the Guarantee; the legal implications of that liability make these institutions very unwilling to part with Guarantees in most cases. I’ve heard customers say that the requirements and process for getting a Medallion Signature Guarantee at most banks is more stringent than the process for getting a new loan.
It is a huge inconvenience for most folks, but unfortunately, if the brokerage firm you’re working with requires a Medallion Signature Guarantee, there’s no way around it. I’m sorry I couldn’t bring you a more helpful solution, and best of luck with your investment!
Thank you for your reply. An update……the Highland’s REIT actually waved the medallion signature requirement for me—-so I have resubmitted the paperwork to Ameriprise and am awaiting the denetworking letter. They heard my case and decided to waive the MSG requirement as it was impossible to obtain it….even my family trust officer who is president of a bank could not do it for me, etc. Crazy….I would never invest in a REIT again and withdrew all of my investments at Ameriprise as a result—six figures of money=their loss. Banking has gotten too crazy for my taste.
Hi Wendy,
Thanks for sharing. Glad to hear you found a solution to your problem! Sounds like quite the experience and a lot of delays just to move your investment. Hope you’re able to avoid these situations in the future!
My son is receiving money through a Prudential life insurance policy in April (when he turns 18) from the passing of his father. Are we going to have an issue acquiring a medallion signature guarantee because of his age? He does not have a license yet but he does have a passport. I’m hoping that will work? I believe he has an account at Chase that my Mom set up but I am not 100% sure. I know I have a CC with them. I had no idea it was going to be this difficult to retrieve his money that his Dad left him. I had the option to take it 10 years ago, maybe we should have done that! What happens if you can not get the signature? This is really kind of upsetting to have to deal with this after everything he has been through losing his dad. Any idea what my best move would be?
Hi Melissa,
First of all, I’m sorry for you and your son’s loss. As far as obtaining a Medallion Signature Guarantee, it should not be a problem for your son to get one once he is a legal adult. A driver’s license won’t necessarily be required for identification if your son has a passport, but other documentation may be required as well (you’ll need to check with the bank that’s providing the Medallion Signature Guarantee for specifics). I contacted Chase to verify whether the Medallion Signature Guarantee service was available to any Chase account holder, and the customer service representative informed me that Medallion Signature Guarantees are available for “most account holders.” In your case, I would recommend finding out whether your son already has an account with Chase, and ask a representative at your local branch whether that account qualifies for Medallion Signature Guarantee services. If he doesn’t have an account, it may be worth having your son open an account at Chase, or at another bank on our list that provides this service. Very few, if any, institutions will grant a Medallion Signature Guarantee to non-customers, so your best move will likely be to work with the bank where your son has an account (or to set up a new account if he doesn’t have one), whether that’s with Chase or another institution. I hope this helps, and please let me know if I can answer any further questions!
I am dealing with this right now in Wisconsin.
Associated Bank is walking me through it. It is frustrating. They don’t like the dow loaded forms, they want an actual statement from Prudential, an affadavit of whether I am entitled.
This has been frustrating and tedious.
I am waiting on all of this.
I have an account with California Bank and Trust and my branch manager provided me with the Medallion signature. Otherwise it seems impossible!
Hi Eileen,
It can definitely be a struggle to find somewhere to provide a Medallion Signature Guarantee. I’m glad you were able to get one through your California Bank and Trust account!
Seems I am having the same problems as others, and who are only getting “Good Luck” as replies. Father passed away and appointed me as the now owner of a MetLife Computershare account. My own financial institutions do not do this Medallion Signature Guarantee. If I cannot accomplish the transfer to my name as my Dad requested, what will happen to the account? If the person being insured passes away, how can a deceased owner receive the proceeds? I have paid the annual bill.
Hi Julie,
Unfortunately, financial institutions do not always offer a Medallion Signature Guarantee because it requires the institution to incur a huge liability in the case of any type of fraud or illegitimate financial activities. Specific branches of financial institutions must be individually authorized to grant a Medallion Signature Guarantee. If the financial institution that you normally work with does not provide this service, unfortunately, the only option may be to join a bank, credit union, or brokerage that does provide this service (note that the service may not be available immediately to new customers and waiting limits may apply).
The transfer of stock ownership or assets from a deceased account-holder can take on a few forms depending on whether an executor was named in the will, or whether probate court assigns a representative. You can read a breakdown of these procedures in this article from the LegalZoom website. (The article is specific to stocks, but it will be fairly similar for other financial assets.) As far as what would happen to the account if you do not secure the Signature Guarantee, it would be best to contact MetLife directly, as each situation is unique. You can reach the MetLife ComputerShare support at (800) 649-3593, Monday – Friday between 8 AM – 6 PM ET. A MetLife representative may also be able to advise you regarding where you can get a Medallion Signature Guarantee in your local area. I apologize that I’m not able to provide a more concrete answer, and I wish you the best of luck in getting this resolved.
I’m having the same issue with my mother’s estate. B of A does not provide the service and my local Wells Fargo requires an account for 6 months, which is ridiculous. Based on all of the comments here, we are just SOL and MetLife Computershares reaps the benefits.
Hello, we are trying to find a company which can provide us with a Medallion Signature Stamp in Russian Federation.
Maybe you have information concerning special companies or branches represented there?
Thank you in advance.
Hi Olga,
According to the website US Funds, some investment companies will allow you to visit a U.S. embassy to obtain a Consular’s seal, which can be accepted in place of a Medallion Signature Guarantee. However, this may not be true for all investment companies. I would recommend contacting your brokerage firm or investment agency to confirm whether a Consular’s seal would be accepted instead of a Medallion Signature Guarantee, or, if not, what other options might be available to you in your local area. Best of luck!
Iam looking for a Medallion Stamp in Belleville or Trenton Ontario Canada cant seem to find one have been looking for a year now we have American Shares but live in Canada
Please Help
Hi Christine,
There are a few things to consider here. First of all, it may be worth checking with your brokerage firm if a Medallion Signature stamp will be accepted from a Canadian institution. In some cases, trades or changes relating to an American investment will require an American Medallion Signature Guarantee. If a Canadian Medallion Signature stamp will be acceptable, the best option will be a branch of your own credit union, bank, or brokerage firm. Most institutions will not issue a Medallion Signature Guarantee to a non-client. If there is no branch of your brokerage firm or banking institution nearby, or if the local branches do not offer Medallion Signature certification, unfortunately there may not be much you can do without traveling to a branch that does offer this service or joining a brokerage firm/institution that can provide the stamp. Best of luck getting this resolved, and I’m sorry I couldn’t bring you better news!
I just contacted KeyBank, Schwab, Wells Fargo and, Citibank in Florida. None of them will provide the service for non-account holders. I wonder how to get in touch with the right person at these firms that will say yes.
Hi DH,
I’m sorry to hear about the trouble you’ve had with obtaining a medallion signature guarantee. Very recently, we did amend an error in the article stating that Charles Schwab provided this service for non-account holders; in fact, Schwab only offers the service to active clients. I definitely apologize if that error on our part caused any frustration for you. Unfortunately, Wells Fargo also restricts this service to account holders only. If Citibank and KeyBank do not offer the service at the branches near you, there’s very little to be done, as it’s often up to individual branches to set their policies in this regard. You may be able to ask a representative at a nearby branch of one of these banks if they can suggest another branch or a different institution in your area that may be able to provide a medallion signature guarantee. I’m sorry I can’t give you a more definitive answer, and best of luck getting this resolved!
Navy Federal Credit Union recently changed their policy to only process credit union related documents. This was likely done starting January 2017, as I had documents processed at the end of December 2016. Now I’m having a very difficult time finding an alternative for a medallion signature location. Ameriprise won’t do it, as it’s not Ameriprise related stock. Charles Schwab only processes if the stock is going into a Charles Schwab account. Really hate opening a Wells Fargo account for 60 days just to do a simple name change for a medallion signature.
Hi Randa,
I’m sorry to hear about the issues you’ve had getting a medallion signature guarantee. Unfortunately, it is quite rare for institutions to grant a medallion signature guarantee unless you’re a client with that bank/firm. Certain branches of Wells Fargo Financial Advisors, KeyBank, and Citibank have been known to provide this service to non-account holders for a fee. If you have branches of any of these institutions in your area, it may be worth giving the location a call to see if you would be able to obtain a medallion signature guarantee there. (Thank you for letting us know about Navy Federal Credit Union — I’ve contacted a representative of NFCU to verify the details of the new policy so that I can update the article accordingly.) Best of luck getting this resolved!
Can you tell me if there are any Citibank or Wells Fargo branches in San Francisco are that offer the service for non account holders?
Heather,
Citibank and Wells Fargo generally only offer Medallion Signature Guarantee services for account holders, and only in some locations. If you’re looking for a Medallion Signature Guarantee service in San Francisco that doesn’t require you to have an account, you can try a Wells Fargo Financial Advisor. There are five Wells Fargo locations in San Francisco that offer Financial Advisor services, and you’ll be charged a small fee as a non-account holder for Medallion Signature Guarantee services. Hope this helps!
My mom is trying to get my grandmother’s mutual funds from a company. My mom is power of attorney. My grandma is in hospice so she is not able to go to the bank. The investment group said my mom could go to a banking institution to get one since she has power of attorney. She went to Wells Fargo (my grandma has an account there)to get a medallion signature. They would not give one because her power of attorney paperwork didnt specifically say anything regarding mutual funds. My mom has a general durable power of attorney form. We are trying to get everything handled before she passes so it won’t go to probate. Is there direction you could give?
Hi Daniela,
That certainly sounds like a difficult situation for you and your mother. According to legal website Nolo, a financial power of attorney document does not automatically grant the agent authority over all types of transactions. The article states that agents can be given as much or as little power as the person writing the document wishes. This means that even though your mother has power of attorney, she is still limited by the restrictions specified in the power of attorney document. If the document explicitly grants your mother authority over all of your grandmother’s financial assets, then it seems that you should be able to get a medallion signature guarantee. If this is not explicit in the document or if there are any restrictions imposed by the power of attorney form, then it could be much more difficult to obtain a medallion signature guarantee. Because this is not necessarily a one-size-fits-all issue, it would be best to work directly with the investment group and, if there was a lawyer involved in granting the power of attorney, with them as well to find out the best course of action for your particular situation. Best of luck getting this issue resolved!
I have been trying to get a medallion signature but nobody wants to do this unless you are a client of that institution. My banking is through Bank of America so I am already in a bad position. Do you know for sure of any companies that can do this without being a client that’s business is in the Phoenix area? Thanks for any help on this.
Hi Michael,
Wells Fargo is one option that offers this service to non-account holders, for a small fee. Find the nearest Wells Fargo branch here. I hope this helps!
Computershare is requiring a medallion stamp to transfer my recently deceased husbands stock. I’ve exhausted all efforts and tried every bank and institution to get this accomplished and no one will provide the medallion stamp. I contacted Computershare for their assistance and they basically said I was out of luck and had to figure it out on my own. What kind of company are they and no compassion. I have enough to deal with and now this? What other suggestions do you have?
Hi Diane,
I’m sorry to hear about all the trouble you’ve had acquiring a medallion stamp. Is the problem that the banks will not provide the medallion stamp to a non-customer, or is there some information or documentation that the banks require before providing the stamp? The easiest place to get a medallion stamp will typically be your own banking institution, or at a firm like Wells Fargo Financial Advisors that sometimes offers this service to non-customers; but even if you go through one of these institutions, there will be documentation requirements in order to get the guarantee. With a little more information about your situation, I would be happy to further assist!
I have the same problem. BOA does not offer signature guarantees and the other banks require an account to offer that service.
Hi Nancy,
Unfortunately, it can be very difficult to obtain a medallion signature guarantee if your bank does not offer this service. Certain locations of Citibank and KeyBank have been known to offer this service to a non-account holder for a fee. Ultimately, these policies are highly dependent on the bank and the individual branch, even if you do have an account at a particular institution. A local broker may be another option, if you know of one in your area that has the authority to issue a medallion signature guarantee. Best of luck getting this resolved!
I am having the same problem trying to get my deceased mom’s stocks sold. Jumping through all these hoops trying to get a medallion stamp is just insane. Now I’m being told I have to go through probate or get an attorney to have an “official” letter signed and dated within 60 days to prove I am the executor…when I already have paperwork to this effect from my parents estate. Absolutely ridiculous! Glad I’m not living on the street because I need the money.
I am having the same experience with Computershare. I am trying to change my legal name on two stock certificates. It seems that a medallion stamp is no longer a reasonable requirement, but Computershare is terrible– and obsolete.
I am going thru the same thing with computershare. It should not be this difficult to get some that legally belong to you.
Open an account at TD Bank for 100.00, get the medallion signature done and close out the account!
If you cannot get a Medallion stamp what other form of proof is acceptable?
Hi Michele,
Typically, if a medallion signature guarantee is required by the agency you’re working with, there is not an equivalent or replacement certification that can be obtained in place of the medallion signature guarantee. Many people believe that a notary stamp will serve the same purpose, but a notary stamp and a medallion signature guarantee require two different processes and serve two different purposes. It’s best to work with your investment firm directly to find out how to meet the requirements of that institution.