Fidelity Investments: Medallion Signature Guarantee Requirements Explained

A Medallion Signature Guarantee is a form of authentication that verifies the legitimacy of a signature and the signatory's overall request. Fidelity requires a Medallion Signature Guarantee when it is essential to ensure the authenticity of the signature on certain forms or documents, which involve relatively higher risks, such as asset transfers or transactions over certain thresholds. Fidelity branch offices can provide a Medallion signature guarantee in certain cases on an appointment basis.

Medallion signature guarantees can be obtained at Fidelity branches

Medallion signature guarantees are special certification stamps that guarantee that a signature authorising the transfer of securities is authentic. They are typically required when securities are held in physical certificate form. Medallion signature guarantees are usually obtained at a financial institution where you are already a customer.

Fidelity Bank customers can obtain a Medallion signature guarantee by making an appointment at any Fidelity Bank office. The appropriate signatures will be affirmed as genuine for transactions up to $250,000. To make an appointment, customers can contact the customer care centre at 1-800-658-1637.

To ensure a smooth process, customers should bring the following items with them to their appointment:

• A valid and unexpired government-issued photo ID
• A copy of the most recent statement dated within the last six months showing full ownership of the securities
• Stock certificates (if applicable)
• Completed transaction documents (do not sign before the appointment)
• For fiduciary signers, proof of authority to sign, such as power of attorney, trust certificate, death certificate or corporate resolution

All individuals listed on the security must be present at the appointment. All guaranteed signers will also sign a Signature Guarantee Indemnity Agreement. Photocopies of all documents will be made, and the originals will be returned.

They are also provided by most banks, credit unions, and savings institutions

A medallion signature guarantee is a special signature guarantee used primarily when a client transfers or sells securities. Medallion signature guarantees are generally required when securities are held in physical certificate form. However, today, individual investors rarely have physical possession of their share certificates, preferring electronic records instead.

To provide a Medallion signature guarantee, an institution must be a member of one of three Medallion signature guarantee programs: the Securities Transfer Agents Medallion Program (STAMP), the Stock Exchanges Medallion Program (SEMP), and the New York Stock Exchange Medallion Signature Program (MSP).

Medallion signature guarantees are obtained from institutions that have the authority to issue them, such as banks, credit unions, and savings institutions. While some banks no longer provide this service, many still do so. These institutions may provide the medallion signature guarantee at their discretion and will have different requirements for the documentation necessary.

Major banks that offer this service include Bank of America, Wells Fargo, and JPMorgan Chase. They generally require the customer to hold an account with them. Some banks provide the service for free to existing customers, while others may charge a fee ranging from $10 to $25.

Credit unions that provide medallion signature guarantees include Navy Federal Credit Union and State Employees' Credit Union. Fees can be lower than banks, often around $10, or provided for free to members.

Overall, medallion signature guarantees are crucial for securing financial transactions and preventing fraud. They confirm the legitimacy of a signature on a financial document and ensure the signer has the legal authority to initiate transactions.

A medallion signature guarantee is a form of authentication

To obtain a medallion signature guarantee, an individual must usually be a customer of the financial institution providing the service. They will need to schedule an appointment and bring relevant documentation, such as a valid government-issued photo ID, account statements, stock certificates, and completed transaction documents. The financial institution will then review the request and documents, and if approved, provide the medallion signature guarantee by stamping the required documents.

Fidelity Investments does offer medallion signature guarantee services to its customers. These services can be provided at Fidelity branch offices on an appointment basis. It is important to note that services may be limited in some areas due to local public health protocols.

In addition to Fidelity, other financial institutions that offer medallion signature guarantees include Bank of America, Navy Federal Credit Union, Northeast Credit Union, Chase, and Capital One. These institutions may have different requirements and processes for obtaining a medallion signature guarantee, so it is recommended to contact them directly for more information.

It is required for certain transactions, such as asset transfers

A Medallion Signature Guarantee is a form of authentication that verifies the legitimacy of a signature and the signatory's overall request. It is one of several special certification stamps that guarantee a signature authorising a transfer of securities is authentic.

Fidelity requires a Medallion Signature Guarantee when it is essential to ensure the authenticity of the signature on certain forms or documents, which involve relatively higher risks, such as asset transfers or transactions over certain thresholds.

For example, when contributing mutual funds and stock certificates, Fidelity Charitable requires a Medallion Signature Guarantee on the Letter of Instruction. Similarly, when contributing cash by wire transfer or when contributing stock, the delivering financial institution may require a Medallion Signature Guarantee.

A Medallion Signature Guarantee can be obtained at a Fidelity Investor Centre or other financial institutions that participate in the Medallion Signature Guarantee Program. It is important to note that a Medallion Signature Guarantee is separate from notary services, and specific items, such as a valid and unexpired government-issued photo ID, are required to be presented during the appointment.

A medallion signature is one of several special certification stamps

A medallion signature guarantee is a special certification stamp that confirms the authenticity of a signature authorising the transfer of securities. It is used when an owner wants to sell or transfer securities such as stocks or bonds held in physical certificate form. If an owner holds securities through a broker, they will not need to obtain a signature guarantee to sell or transfer the securities.

A medallion signature guarantee is not the same as a document notarisation, which simply assures that a signature is genuine. A medallion signature guarantee is only provided by an institution that is a member of one of three Medallion signature guarantee programs: the Securities Transfer Agents Medallion Program (STAMP), the Stock Exchanges Medallion Program (SEMP), and the New York Stock Exchange Medallion Signature Program (MSP).

Fidelity Investments does offer medallion signature guarantee services in certain cases on an appointment basis. However, it is important to note that a medallion signature guarantee can also be provided by most banks, credit unions, clearing agencies, and savings institutions.

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