When it comes to stocks, a Medallion Signature Guarantee is a must. This is essentially a certificate proving you are who you say you are and you have the right to hold and sell your stocks and bonds. You’ll need one of these in order to sign over assets, change ownership of shares, or purchase someone else’s shares. Here are some places you can head to in order to get a Medallion Signature Guarantee, and more about why this is so important.
Different Medallion Signature Guarantee Programs
When you go to get a Medallion Signature Guarantee, know that there are three separate types of certifications that are allowable, and different financial institutions may offer one of any of these options. The first type is Securities Transfers Agents Medallion Program, (STAMP) the second is Stock Exchanges Medallion Program (SEMP) and the third type is New York Stock Exchange Medallion Signature Program (MSP.) Any of these three types of Medallion Signature Guarantees is acceptable. Each bank or other institution will be a member of one of these programs and can grant Medallion Signature Guarantee certifications.
Why the MSG Is Important
There are numerous reasons why getting a Medallion Signature Guarantee is important, but here are a few to keep in mind that make it an absolute necessity. First, the certificate guarantees your stock shares and your ownership of said stocks and bonds. This means your stocks can’t be stolen and sold. It also gives you peace of mind when you purchase stocks from someone else-a Medallion Signature Guarantee ensures that you’re getting authentic, legitimate shares that it’s OK to purchase. It’s essentially a protective measure for purchasers and holders of stocks, shares, and bonds, and prevents forgeries. These certificates also make it a cinch when it comes to switching ownership of stocks, or even doing something as simple as adding a spouse to stock shares.
Where to Get a Medallion Signature Guarantee
Check banks, brokerages, trust companies, savings associations, and other financial institutions to determine where you can get a Medallion Signature Guarantee. Most banks are offering one of the three types of guarantees, and as long as you use a bank or other institution that is part of the Medallion program, your certification is legal and official. If you’re not in the United States, your best bet is to contact the US Embassy for more information regarding a Medallion guarantee.
Make sure there is not a date on the certification, or it will only be valid for that specific date. There should not be a date attached to the paperwork. There is a cost for the seal, but it’s generally minimal, and worthwhile.
For More Information
To find out more about procuring a Medallion Signature Guarantee or any other type of services, including mobile notary services, contact Superior Notary Services at 877-507-4600, or stop by our offices located at 3990 Lakeway Drive, Suite 109 in St. Paul. We offer all types of notary services including home, auto, real estate, and legal notary services.
What is a Medallion Signature Guarantee & How to Get One