Wells Fargo Medallion Stamp
Medallion stamps are special signature guarantees used to transfer securities between institutions, typically banks and credit unions, but also available from brokerage firms and certain law firms.
Financial institutions usually provide this service free of charge to existing customers; however, new applicants may incur an application fee.
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Medallion Signature Guarantee (MSG) stamps serve to verify your identity when conducting financial transactions involving securities and investments, with only institutions affiliated with one of the three MSG programs capable of offering this service.
MSGs are required for certain transactions, such as transferring assets upon death and switching brokerage firms. Banks, credit unions and investment firms often offer these documents; however they require specific identification before providing this service and may levy an additional fee for this service.
Senior bank officers typically can perform medallion signature guarantees. Be sure to reach out ahead of time, however, in order to verify availability and determine what the maximum value limit for such guarantees might be.
A medallion signature guarantee, or MSG stamp, serves to authenticate you when engaging in financial transactions involving stocks and bonds. Only banks, credit unions, and brokerage firms that belong to one of three programs – Securities Transfer Agents Medallion Program (STAMP), Stock Exchange Medallion Program (SEMP), or FINRA/SEC Medallion Program (MSP) can offer this service; use search engines such as Google or Bing to locate one offering an MSG stamp – simply by searching “msg lookup.”
As MSG exposes financial institutions to significant liability, they do not offer it freely to non-customers; instead they typically offer it only for an administrative fee that ranges between $10 and $55 per guarantee. It should also be noted that each bank may set limits on how much of an asset it will cover; to find out this information ahead of time and confirm with each one exactly which assets can be guaranteed; furthermore some institutions only offer MSG service at certain locations.
Bank of America
Medallion Signature Guarantees (MSGs) are official stamp certificates that verify an individual’s identity when transferring assets between accounts such as stocks and securities, or to prevent fraud such as forgeries. Banks, credit unions and brokerage firms that participate in medallion programs such as STAMP, SEMP or MSP provide these guarantees; three of the most favored being STAMP, SEMP and MSP.
To obtain a medallion stamp, it is necessary to visit your bank or brokerage firm with documentation proving ownership of assets you wish to transfer. Most banks provide this service only if you are an existing customer and require proof of identification. It is advisable that you call ahead so an associate at the bank can set an appointment and give specific instructions as to which documents need to be brought as well as answering any inquiries about the process.
Medallion Signature Guarantee (MSG) stamping services are offered by banks, credit unions and other financial institutions and use special stamps that verify an individual’s signature on financial instruments like stocks or bonds. MSG differs from notaries in that its verification focuses solely on authenticating an individual’s signature on such financial instruments instead of legal documents like vehicle ownership certificates, lien notices or life insurance policies.
Transfer agents may require your signature as an assurance of its genuineness in order to transfer physical securities like stocks or bonds without using a broker.
Banks may provide medallion signature guarantees, provided that they belong to one of three medallion programs: Securities Transfer Agents Medallion Program (STAMP), New York Stock Exchange Medallion Signature Program (SEMP) or Securities Transfer Association Medallion Guarantee Program (MSP). Each program possesses its own set of regulations and restrictions.
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