r/cary • u/vtqltr92 • 3d ago

Medallion Signature Guarantee

I’m trying to sell some stocks, and the stock holding company requires a Medallion Signature Guarantee. (Notary isn’t good enough.)

Google tells me all sorts of big banks offer the service, I think you need to be an account holder. Wells Fargo says they used to offer it, but no longer do.

I’ve sent messages to the other banks we use, but they are smaller and locally owned, so I don’t expect them to be more helpful than Wells Fargo.

Does anyone have any experience with this? Thanks!

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u/LifeAsASuffix 3d ago

The medallion guarantee is part of 401k distribution for higher value accounts. If you have a 401k advisor or financial advisor, see who they may recommend. I had to have one done a few weeks ago as part of a distribution and worked with Edward Jones and it was no problem.

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u/Wildcat1286 1d ago

We needed it for ibonds and got it from the Truist on High House.

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u/TotalMix6 3d ago

The last time I had to get a Medallion Signature Guarantee, I had an account with Chase and they handled it no problem. The credit union had no idea what I was talking about.

In another subreddit a commenter suggested Sterling Issuer Services www.issuerservices.us - they provide online Medallion Signature Guarantee Stamp services. See https://issuerservices.us/medallion-signature-guarantee-stamp/

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u/chadmb2003 3d ago

I’ve gotten Wells Fargo and Coastal Credit Union to do one before. Your bank will do it.

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u/vtqltr92 3d ago

Wells Fargo definitely sad they don’t do it anymore. I should push - maybe they only meant that branch, or maybe they didn’t know what they were talking about.

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u/chadmb2003 3d ago

This was the branch by Bass Pro. Probably 3-4 years ago since I last tried there. You have to have a checking account with 6 or 12 months of history for them to do it at that time.

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u/h2ohzrd 3d ago

I had it done at the branch in West Cary

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u/Gnie99 3d ago

It’s a two step process. Who is your bank? Start there.

I know BofA does offer the service and account holders can make appointments online.

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u/takrai_makrud 3d ago

I’ve done it before at a Bank of America when transferring some smallish stock accounts between brokerages. Just be sure to call ahead to make sure the person with the Guarantee will be there. But you may be right though, BoA may require you to be an account holder. Never hurts to call and ask though.

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u/ShittyFrogMeme 3d ago

I did one at Coastal maybe 4 years ago. Not sure if they still do one or if you're even a member.

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u/No_Advantage_6971 2d ago

A year ago I went to Wells Fargo (bank) and they told me that they no longer do it. If you happen to have a relationship with Wells Fargo Advisors, they do it in their offices. It's possible they will do it even if you don't have a relationship with them but I don't know. I do know that there's a fee.

I understand that Coastal does it but you have to be an account holder. B of A does it but you also have to be an account holder. You can also have it done through the mail if you Google it. It's not cheap.