Where do I get a document stamped with a Medallion Signature Guarantee?
Today I received a call from one of my regular clients who was asking if I could provide a Medallion Signature Guarantee stamp on a document for him. It’s fairly common for people to assume that because a “stamp” is required, they should turn to a Notary Public for help. But there are significant differences between the two processes…
Notary Unable to Provide Medallion Stamp
What most people don’t know is that a Notary Public is unable to provide this service – most documents that require the (MSG) Medallion Signature Guarantee clearly state this. Usually the documents that require a MSG relate to the process of transferring or changing ownership of some financial securities such as public or privately traded stocks, bonds or mutual fund shares etc.
Most financial institutions including Banks, Brokerage Firms and Credit Unions can provide a MSG stamp for you. Some firms may charge for this service if you are not a client, so it’s best to first talk to your regular banker or financial service provider to see if they can help. Because only one or two people within a branch office may have authority to provide the MSG stamp, you may want to call ahead and /or schedule an appointment.
Unlike having your documents notarized by a Notary Public, when obtaining a Medallion Signature Guarantee stamp you won’t be required to sign a journal, nor will your document’s stamp be logged. You will however, need to provide suitable identification showing that you are in fact the account holder who is signing off on the required documents.
Unfortunately there are currently no mobile Medallion Signature Stamp Agents, so if you need a MSG stamp, you’ll have to go into a local financial services branch office. According to the Securities Transfer Agents Medallion Program (STAMP), there are more than 7,000 U.S. And Canadian banks with agents available to provide the Medallion Signature Guarantee stamp.