What is a medallion signature guarantee?
A medallion signature guarantee is a special certification for the transfer of securities. It is a guarantee by the transferring financial institution that the signature is genuine, protecting shareholders by preventing unauthorized transfers and possible investor losses.
The medallion seal certifies that the signature is genuine and has legally binding authority. It is a warranty that at the time of signing, the signer(s) had the legal capacity, was the appropriate person(s) to sign, and the signature(s) was authentic.
What is needed for a signature guarantee?
The following are requirements to obtain a seal:
- Proof of Visions membership for all signers
- Valid, positive photo ID for all signatures to be guaranteed
- Proof of ownership of the assets being guaranteed
Please note that under special circumstances, such as a Power of Attorney or Death Claim situation, additional documentation may be necessary. Please be prepared to provide all evidence of your legal capacity to sign.
- All members must be in good standing (i.e. no delinquencies, charged off accounts, or negative balances)
- Standard limits are $100,000 but may be higher at certain locations. Contact us at 800.242.2120 for a list of these offices
- For additional documentation, such as those needed for a deceased individual, contact us at 800.242.2120 to determine additional documentation
Qualifying items for a medallion signature guarantee seal
A medallion seal is not used for transactions that do not involve the sale, transfer, redemption, or liquidation of securities. Rather, it is only used to guarantee an endorsement on transactions involving a change in ownership or a liquidation of the following items:
- Mutual Funds
- Savings Bonds (or any Government Debt Obligation)
- Unit Investment Trusts
- Other investment vehicles that meet the definition of a security
Note: a request to change the name shown on a security is considered a change in ownership and is a proper use of the medallion stamp.
Still have questions?
Stop by your local office or call us at 800.242.2120.