At both Chase branches I went to and also when calling Chase customer service. Chase offers medallion signature guarantee services free of charge for its account holders. In addition, depending on the request type, you will need to provide the following documents. Really!!!! The transfer agent requires the signature of the owners(s) of the securities to be “guaranteed” by a financial institution before they will act on the transaction request. I am an American living in Australia. Your friend’s first stop should be to her financial institution. Yes. Policies and restrictions are set at the bank’s discretion. First of all, I’m sorry for you and your son’s loss. But it is hard to get that. I definitely apologize if that error on our part caused any frustration for you. Based on all of the comments here, we are just SOL and MetLife Computershares reaps the benefits. I contacted Chase to verify whether the Medallion Signature Guarantee service was available to any Chase account holder, and the customer service representative informed me that Medallion Signature Guarantees are available for “most account holders.” In your case, I would recommend finding out whether your son already has an account with Chase, and ask a representative at your local branch whether that account qualifies for Medallion Signature Guarantee services. As executor I could order the shares be sold. There are five Wells Fargo locations in San Francisco that offer Financial Advisor services, and you’ll be charged a small fee as a non-account holder for Medallion Signature Guarantee services. If he doesn’t have an account, it may be worth having your son open an account at Chase, or at another bank on our list that provides this service. I am also a non US citizen/resident (I am from Argentina) and I have contacted them through the following e-mail address: enquiries@iwc-ltd.co.uk Are we going to have an issue acquiring a medallion signature guarantee because of his age? Answered, Checking Accounts With Free Checks: 16 Banks, Credit Unions Listed, The 11 Best Savings Accounts: APYs, Fees, etc Compared, 12 Banks & Credit Unions That Offer Early Direct Deposit, What Banks Give You a Debit Card on the Spot? How to Get a Medallion Signature Guarantee. Certain branches of Wells Fargo Financial Advisors, KeyBank, and Citibank have been known to provide this service to non-account holders for a fee. It is frustrating. Can you help me with this? Trying to rollover a 401k to 401k between 3rd party plans. A Medallion Signature Guarantee is not available domestically. Axa is asking for a medallion guarantee signature. Have a nice day. I wonder how to get in touch with the right person at these firms that will say yes. I wish I could deliver better news, but banks and credit unions will only provide this service to account holders. Instant Debit Cards Listed, How to Open and Set up a Bank Account: Complete Process Detailed, 23 Best Checking and Savings Account Signup Bonuses, How to Get an Overdraft Fee Waived (With Scripts for Phone & Email), Which Banks Have Free Coin Counting Machines? Click to share on Facebook (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to email this to a friend (Opens in new window), Medallion Signature Guarantee at Bank of America:…, Chase Bank Medallion Signature Guarantee Services:…, Locations that Offer Medallion Signature Guarantee Services, Digital Credit Union (New Hampshire and Massachusetts), Locations that Don’t Provide Medallion Signature Guarantee Services, See our comprehensive article about BofA’s Medallion Signature Guarantee, Find your nearest Bank of the West branch. My grandma was exactly in the same situation you described and we know how stressful it could be. Now I’m being told I have to go through probate or get an attorney to have an “official” letter signed and dated within 60 days to prove I am the executor…when I already have paperwork to this effect from my parents estate. Best of luck getting this resolved! I had the same problem. Some banks, including Citibank and KeyBank, have been known to offer this service to non-account holders, for a fee, but it depends on the bank’s branch, so she’ll want to check with other local banks if her bank does not offer medallion signature guarantees. Best of luck getting this resolved, and I’m sorry I couldn’t bring you better news! This is really kind of upsetting to have to deal with this after everything he has been through losing his dad. The cause of this is ultimately a side effect of the purpose of the Medallion Signature Guarantee program, which is to reduce the liability of the transfer agent who’s handling the transaction. Please Help. Transfer agents often require your signature to be “guaranteed” to help prevent fraud. Another type of security that can require a Medallion signature guarantee is an annuity. She went to Wells Fargo (my grandma has an account there)to get a medallion signature. The investment group said my mom could go to a banking institution to get one since she has power of attorney. It should not be this difficult to get some that legally belong to you. According to legal website Nolo, a financial power of attorney document does not automatically grant the agent authority over all types of transactions. a notary stamp and a medallion signature guarantee, Documentation showing the exact and complete ownership of the security, Documentation showing the value of the transaction, Documentation showing your legal authority (if you are signing on behalf of another individual), Proof of name change as a result of marriage, divorce, or legal name change (if applicable). I am trying to change my legal name on two stock certificates. Good luck! What other suggestions do you have? If you need a medallion signature guarantee, Chase Bank is somewhere to consider. My sister died near the end of 2011 leaving me some shares of GE stock. Certain locations of Citibank and KeyBank have been known to offer this service to a non-account holder for a fee. Can you give me the information how and where I can do this? It can definitely be a struggle to find somewhere to provide a Medallion Signature Guarantee. I’m running into a similar problem as many others – my bank doesn’t offer the MSG, and none of the banks I’ve contacted (including Wells Fargo and Key Bank) offer it for non-account holders. This is garbage service for Chase customers. I’ve added this information to the article. I have a bunch of shares received as Employee Stock purchase plans, and these are ‘managed’ by Computershare. Help! Thank you again for sharing your findings with us, and please let us know if you have any additional questions or comments. I just contacted KeyBank, Schwab, Wells Fargo and, Citibank in Florida. I’m hoping that will work? Although First Quarter Finance is not a Medallion Signature Guarantee service, we’re happy to point you in the direction of some companies that might be able to help you to roll over your wife’s 401k account. As far as what would happen to the account if you do not secure the Signature Guarantee, it would be best to contact MetLife directly, as each situation is unique. If you have branches of any of these institutions in your area, it may be worth giving the location a call to see if you would be able to obtain a medallion signature guarantee there. Hope this helps! The medallion signature guarantee itself is a special seal that is usually designed to be difficult to forge or falsify. If the document explicitly grants your mother authority over all of your grandmother’s financial assets, then it seems that you should be able to get a medallion signature guarantee. Best of luck! A signature guarantee is also a way for transfer agents to reduce their liability since an outside agency takes responsibility in verifying your identity. My wife worked for a company that no longer exists. Medallion signature guarantee vs. Medallion guarantee stamp; What is a Transfer Agent and why did they just ask me for a medallion? Medallion Signature Guarantee If you need a Medallion Guarantee we can assist, regardless of your location*. I was advised to contact a US bank locally for assistance; they listened to my request, informed me that they did not deal with private clients, but would make enquiries and call me back. I am dealing with this right now in Wisconsin. If there is no branch of your brokerage firm or banking institution nearby, or if the local branches do not offer Medallion Signature certification, unfortunately there may not be much you can do without traveling to a branch that does offer this service or joining a brokerage firm/institution that can provide the stamp. There are three different medallion signature guarantee programs, all of which are equally valid. Signature Guarantee services are available by appointment at several Union Bank & Trust locations. A MetLife representative may also be able to advise you regarding where you can get a Medallion Signature Guarantee in your local area. I’m sorry I couldn’t bring you better news! I called TD Ameritrade and spoke to a customer service representative to verify their current offerings, and I learned that they do not currently provide MSGs for account holders (though perhaps they did so in the past). Associated Bank is walking me through it. For more on the service and how to make an appointment, see below. You may be able to ask a representative at a nearby branch of one of these banks if they can suggest another branch or a different institution in your area that may be able to provide a medallion signature guarantee. My sister & I live 4.5 hrs. When it comes time to sell the stocks, no signature guarantee will be necessary since the seller of record is the brokerage firm. So what do I do now? That’s a great question. Banking: I have an account with California Bank and Trust and my branch manager provided me with the Medallion signature. Where can I get the Medallion Signature Guarantee in Taipei, Taiwan? They got the required Medillion Stamp Signature Guarantee that was needed from MSG. My own financial institutions do not do this Medallion Signature Guarantee. Chase offers medallion signature guarantee services for free to banking and credit card account holders. Please note: Each signer must be a Bank of America or Merrill client for at least 6 months. i dont mind paying a fee and its unconscionable that this shenanigan is in place and so vilely impacting peoples’ lives. Cecilia, this could maybe be a very good pointer! I’m a beneficiary of my uncle, deceased who held a custodial account for me with MFS. For this reason, transfer agents must rely on a member of a Medallion Program to provide a Medallion Guarantee. The stock has my name as beneficiary on the face of the certificates. I recommend checking with the SEC to ensure the broker you use is part of the Medallion Signature Guarantee Program. — Brokerages: Banking has gotten too crazy for my taste. I apologize that I’m not able to provide a more concrete answer, and I wish you the best of luck in getting this resolved. Regards. Best of luck getting this resolved, and please let me know if I can answer any further questions. For a better idea of how common medallion signature guarantee services are at Chase Bank, we contacted several locations across the U.S.; about 60% of the branches we called offer medallion signature guarantees to any Chase credit card or bank account holder. Once a bank uses the stamp and signs off on it, they are guaranteeing that it's your signature and if there's a problem, the bank is responsible. Answered, The 11 Best Checking Accounts: Fees, APYs, etc Compared, 3 Banks With No Overdraft Fees Listed (+ Free Overdraft Protection Options), How Many Times Can I Overdraft My Account? From http://www.early-retirement.org/forums/f28/medallion-stamps-80098.html#post1675116 as of 2015: Citizens Bank provides MSGs to any person with an account, even one opened the same day. See our article, Chase Bank Medallion Signature Guarantee Services: Requirements, etc, Find your nearest Digital Credit Union branch, Find your nearest First Midwest Bank branch, Find your nearest Great Western Bank branch, Find your nearest Navy Federal Credit Union branch, Find your nearest Union Bank & Trust branch, Find your nearest Ameriprise Financial branch, Find your nearest Fidelity Investments branch, Find your nearest Wells Fargo Financial Advisors branch, Find out more by visiting the eSignature Guarantee website, Medallion Signature Guarantee at Bank of America: Availability, Fees Listed, Chase Bank Medallion Signature Guarantee Services: Requirements, etc, How Much Does a Medallion Signature Guarantee Cost? Since Medallion Signature Guarantees are only available to members of banks, credits unions, and brokerages based in the United States and Canada, you may have a difficult time finding MSG services in Argentina. The easiest place to get a medallion stamp will typically be your own banking institution, or at a firm like Wells Fargo Financial Advisors that sometimes offers this service to non-customers; but even if you go through one of these institutions, there will be documentation requirements in order to get the guarantee. The reader who wrote about his experience inherited T-bills, and he needed a Medallion stamp for the Treasury form 1455 that is used to request a distribution of T-bills.
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