What They Are How to Get One. Moving a lot of assets from one brokerage to another can be a hassle. A brokerage firm that I started investing with as a teenager, and eventually opened a Roth IRA with during college, kept getting acquired by bigger companies, changing its name and features, but never really expanded and improved its offerings in line with what the best competitors were doing. S0, a few months ago as part of a financial account consolidation to simplify, I decided to transfer all my assets from that brokerage firm to another one. But I was informed that I had to start the process all over because I didnt have a medallion signature guarantee. Im usually pretty good with the details on forms, and I remembered seeing a spot near my signature for a medallion signature guarantee, but I had assumed that because my stocks were held in street name by my brokerage, it didnt apply to me. Archives/edgar/data/1474735/000104746910000285/g317512ooi002.gif' alt='Medallion Guarantee Program' title='Medallion Guarantee Program' />Why You Need a Medallion Signature Guarantee A Medallion Signature Guarantee helps protect people involved in paperbased stock transactions from fraud. Redmayne Bentley share dealing services. Medallion Signature Guarantee. A medallion signature guarantee is a special signature guarantee for the transfer of. Medallion signature guarantees are sometimes required for transferring securities but can be a hassle to get. This guide makes the process easier. No more missed important software updates UpdateStar 11 lets you stay up to date and secure with the software on your computer. Welcome to MedallionPrograms. Information Center The Securities Transfer Agents Medallion Program STAMP, The Stock Exchanges Medallion Program SEMP and. Turns out it did. So, I went and researched it in more depth, and this guide covers what exactly a medallion signature guarantee is and how to get one. Medallion Signature Guarantees 1. A medallion signature guarantee, with the unfortunate acronym MSG, is a special stamp and signature combo that certain financial institutions can give to verify your identity for the transfer of securities. It looks like this Starting in the 1. They now contain a barcode, and have an invisible security compound in the ink that can be read by special Stamp 2. Plus scanners used by transfer agents. If you would like to purchase Bullion Coins or Bullion Bars direct please click here. Innovative Investment Options The Perth Mint issues the worlds largest range. A Medallion Signature Guarantee stamp may be obtained from a domestic bank or trust company, brokerdealer, clearing agency, savings association, or other financial. Answer Go to your local bank and ask them specifically for the Medallion signature stamp. I guess the above answer must have been provided by a non. They also have a prefix that indicates their surety limit, which limits how much they can guarantee the transaction for The stamp and signature by the financial institution is a guarantee that your personal signature is valid, that you are who you say you are, that you legally own the assets youre trying to transfer, and generally that the financial institution will accept liability in the case of forgery. That last point is what makes it different than a simple notarization from a notary, although its often confused with one. Especially because many banks have notaries, and their stamp isnt the one youre looking for here. A medallion signature guarantee is not the same thing as notarization and is not interchangeable with the services a notary can provide. A notary stamp verifies the identity of someone signing various types of legal documents, and is performed by a legally recognized public notary. A medallion signature guarantee, on the other hand, is performed by a bank officer on behalf of a bank or other financial institution, usually for transferring securities, and is backed up by that firms assets. By putting their stamp down, they are verifying that not only are you who you say you are, but that theyre sure enough to put their own money on the line. A notary stamp cannot be used in place of a medallion signature guarantee the securities transfer agent wants to see all those big beefy bank assets backing you up, which a public notary cant provide. Before transferring assets, check with the institutions involved whether you need one. If your assets are held in street name, meaning they are in your brokerage firms name on your behalf, you might not need one. A lot of stocks these days are held entirely in street name. But even if thats the case, they might still require one if theres a large value of assets being moved. My assets were held in the name of my brokerage firm, and yet I was still required to get an MSG for the transfer. How to Get a Medallion Signature Guarantee. Banks, credit unions, broker dealers, and other financial firms that are members of a medallion program can provide one. A bank officer stamps it on your transfer form near your signature, and signs his or her own name over the stamp. According to the US Securities And Exchange Commission, there are three medallion signature guarantee programs that financial institutions can participate in. Securities Transfer Agents Medallion Program STAMP A collection of over 7,0. United States and Canada, who clearly are creative with their acronyms. Stock Exchange Medallion Program SEMP A bunch of clearing and trust companies and regional stock exchange member firms, who unfortunately arent quite as clever when it comes to making acronyms. New York Stock Exchange Medallion Signature Program MSP  A collection of NYSE member firms, who didnt even try to make a nice, pronounceable acronym. Usually, to get a medallion signature guarantee from any of these participating institutions, you need to be an account holder with them for at least a couple months. Most of them wont give a medallion signature guarantee to anyone just walking in from the street, regardless of how much documentation you provide, because theres too much liability for them to risk it. Thats what makes getting one tricky for some people, and can cause a significant delay if youre not prepared. If the financial institutions that you are a member of dont offer medallion signature guarantees, you can find yourself kind of screwed. If youre just starting to invest money with a clean slate, I really recommend putting thought into the brokerage firm that you ultimately select. Ideally, pick a leading one that is likely to be around for a long time, and highly competitive, to minimize the chances that youll want to switch away from them in the future. Check out my resources page for brokerage recommendations. Fortunately, my bank is a member of one of the lovely medallion programs and gave me a medallion stamp for no charge. It took about 1. So, check with your primary bank or credit union. Theres a good possibility that they offer one, but its not always the case. Small institutions, like credit unions, often have fairly low surety limits for guarantees, at only 1. Next, if that doesnt work out, check with the banks that you have credit card accounts with. If they have local branches, see if they will do one for you. In addition, if the brokerage you are transferring your assets to or from has physical offices near you, contact them and see if theyll do the stamp. As a last resort, you may need to open a new bank account with a bank that offers MSGs, let it season for a couple months to meet their minimum time limit, and then go ahead and have them stamp your transfer forms. If this is the case, confirm with them ahead of time that they do indeed offer medallion signature guarantees, and that they offer them up to a value limit that will accommodate your account transfer. Before You Go. Only a bank officer can provide a medallion signature guarantee, like a branch manager or loan officer, so you should call ahead to ensure that someone at the branch youre going to is ready to perform the stamp. If your account is six figures or higher, youll also want to ask what maximum value of assets they can guarantee, because each officer has a different surety limit that theyre allowed to stamp and sign for. In addition, check with them regarding what forms theyll require to verify your identity and to ensure that you own the assets. For me, my drivers license, together with my longstanding history as an accountholder at that institution, was enough to verify my identity. Your bank may require something more specific, which is why its useful to ask ahead of time. Ns Virtual Dj Full.