Most banks do not offer medallion signature guarantees, but some large institutions and investment firms do
A medallion signature may provide is a special stamp on your signature that certifies you are who you say you are. It is not the same as a notary public's stamp. Banks use it to protect themselves when you transfer stocks, bonds, mutual funds, or other securities from one account to another — especially when moving money out of the country or to a different owner.
The catch: only certain banks and investment firms are members of the medallion programs that issue these guarantees. Your local community bank probably is not one of them. The three main programs are the Securities and Exchange Commission (SEC) Medallion Program (STAMP), the Stock Exchanges Medallion Program (SEMP), and the New York Stock Exchange Medallion Program (MSP). Each one has its own list of approved members.
If you need a medallion may provide, your best starting point is to call the brokerage firm where your securities account is held. If they cannot issue one, they can usually tell you where to get one — often at a larger bank or another brokerage in your area.
Key Takeaways
- Large national banks like Bank of America, Wells Fargo, and JPMorgan Chase often offer medallion signature guarantees, but you must have an account with them and meet their requirements.
- Investment firms and brokerages like Fidelity, Charles Schwab, and Merrill Edge are more likely to issue medallion guarantees than traditional banks.
- Your current bank may not offer medallion guarantees, but they can usually refer you to a nearby institution that does.
- You will need to bring photo identification and proof of your account ownership when you request a medallion may provide in person.
- The program that issues your may provide depends on which medallion program the institution is a member of, but all three programs carry the same legal weight.
Large national banks that typically offer medallion guarantees
Bank of America, Wells Fargo, JPMorgan Chase, and Citibank are among the largest U.S. banks that participate in medallion programs. However, participation varies by branch and by region. A branch in one city may offer the service while another does not, depending on whether that branch has staff trained to issue guarantees and whether it is a member of one of the three programs.
If you have an account at one of these banks, call your local branch and ask whether they offer medallion signature guarantees. Be specific: ask which medallion program they are a member of (STAMP, SEMP, or MSP). If your branch does not offer it, ask them to direct you to a nearby branch or institution that does.
These banks typically charge a fee for the service, though the amount varies. Some waive the fee for customers with high account balances or premium account tiers. Ask about the cost before you go in.
Investment firms and brokerages that issue medallion guarantees
If you hold securities through a brokerage, that firm is often your fastest route to a medallion may provide. Fidelity, Charles Schwab, E*TRADE, Merrill Edge, and TD Ameritrade all participate in medallion programs and can issue guarantees for their account holders.
The advantage of going through your brokerage is that they already have your account information on file. You may be able to request the may provide by phone or through your online account, though some firms require you to visit a branch or office in person. Call your brokerage's main customer service line and ask how to request a medallion signature may provide.
Credit unions sometimes participate in medallion programs as well, though less commonly than banks and brokerages. If you are a credit union member, it is worth asking whether they offer the service.
How to find a medallion may provide provider near you
If your bank or brokerage does not offer medallion guarantees, you have two ways to find one that does. The first is to contact the medallion program directly. The STAMP program maintains a searchable directory of member institutions on its website. SEMP and MSP also publish lists of members, though they are less user-friendly to search.
The second way is to ask your bank or brokerage for a referral. They deal with medallion guarantees regularly and usually know which nearby institutions can issue one. This is often faster than searching online, because they can tell you whether that institution is currently accepting new requests and what documents you will need to bring.
If you are transferring securities out of the country or to a trust, mention that when you call. Some institutions have additional requirements or restrictions for international transfers.
What to bring when you request a medallion may provide
You will need to appear in person at the institution that issues your may provide. Bring a government-issued photo ID (driver's license, passport, or state ID card) and proof that you own the account or securities being transferred. Proof of ownership usually means a recent account statement or a letter from your brokerage confirming your account number.
You will also need the documents you want may provide — typically a stock power form or transfer instruction form. If you are not sure what form you need, ask the institution receiving your securities (the one you are moving money to). They can tell you exactly what paperwork to bring.
Some institutions require you to make an appointment. Call ahead rather than showing up without one, especially if you are visiting a busy branch.
The difference between the three medallion programs
STAMP, SEMP, and MSP are three separate programs run by different industry groups, but they all carry the same legal weight. A medallion may provide issued under any of the three programs will be accepted by securities firms, banks, and transfer agents. The program name matters only if you are looking for a specific institution — you need to know which program they belong to in order to find them.
STAMP is the most widely available program and is run by the American Bankers Association. SEMP is run by the Securities Industry and Financial Markets Association and is common among investment firms. MSP is run by the New York Stock Exchange and is less common but still widely recognized.
Do not worry about which program issues your may provide. Focus instead on finding an institution near you that offers the service and can issue it within your timeline.
When a medallion may provide is required
You need a medallion signature may provide when you are transferring securities (stocks, bonds, mutual funds) and the amount is large enough that the receiving institution wants extra protection. The threshold varies — some firms require a may provide for any transfer over $10,000, while others have higher or lower limits. Ask the institution you are transferring to what their threshold is.
You also need one if you are transferring securities into a trust, to a different owner, or out of the country. These transactions carry more risk for the receiving institution, so they almost always require a medallion may provide regardless of the dollar amount.
If you are straightforward moving money between your own accounts at the same brokerage, you usually do not need a medallion may provide. The brokerage already knows you and can verify your identity through their own systems.
Frequently Asked Questions
Can a notary public provide a medallion signature may provide?
No. A notary public can certify that you signed a document in front of them, but that is not the same as a medallion signature may provide. Securities firms will not accept a notary stamp in place of a medallion may provide. You must go to a bank, brokerage, or other institution that is a member of one of the three medallion programs.
What if I cannot find a medallion may provide provider near me?
Call the institution you are transferring securities to and ask them for a referral. They work with medallion guarantees constantly and often have a list of nearby providers. If you live in a rural area, you may need to travel to a larger city or request the may provide by mail from a distant institution — some firms offer this option, though it takes longer.
How long does it take to get a medallion signature may provide?
If you visit in person with all required documents, most institutions can issue a medallion may provide on the same day or within a few hours. If you request it by mail, allow one to two weeks. Plan ahead so you do not miss a important date for your securities transfer.
Do I need an account at the institution to get a medallion may provide?
Most institutions require you to be a customer, but requirements vary. Some banks and brokerages will issue a may provide for non-customers, though they may charge a higher fee. Call ahead and ask before you visit.
What if the institution I want to transfer to does not recognize my medallion may provide?
This is rare, but if it happens, contact the institution that issued your may provide and ask them to reissue it under a different medallion program. They can usually do this quickly. The receiving institution should accept a may provide from any of the three programs.