The medallion signature program was developed to help protect people’s securities and investments by making it harder for people to steal them by forging signatures on security certificates. A medallion signature does not cost the same from every bank, while some banks render medallion signature service for free, some banks charge heavily. Typically, a medallion signature stamp cost is reliant on the firm.

A credit union, a medallion service could cost about $50 for every $100,000; from a bank, a medallion signature service could cost $75 for every security worth $200,0000 and the cost of the service goes up as the security worth increases and roughly doubles from there. Transfer and redemption fees apply. Meanwhile, the Bank of America renders the service of medallion signature for free to their customers and to other Clients who have been with the Bank of America for at least six months.

The Medallion Signature Guarantee Cost

For a medallion signature guarantee stamp, most institutions charge a fee of $40.00 for every guarantee stamp which can be paid by check or debit from your Bank account. This fee is necessary because of the complex nature of the paperwork and liability involved in the transaction. While some banks, give guarantee stamps without limit, some banks offer a dollar limit of 250,000

Some places to get a Medallion Signature Stamp and their cost: -UBT at $50 is available only for account holders. -E-signature at $149 is available for anyone. -Wells Fargo Financial advisors with varying costs are available at some locations only for active account holders.

  • Northwest Bank is free for account holders at some locations. -PNC Bank is free for account holders in some locations.

What are the Requirements for a Medallion Signature Guarantee?

To apply for the Medallion Signature Guarantee, you must first be a customer of the bank. You must apply in person for security reasons. You must provide an authorized means of identification like your ID card, Driver’s license, or passport. You must also provide proof of ownership of the securities and the value of the securities in question. Documents must be signed in the presence of all the guarantors and owners in cases of joint securities.

What is the Essence of the Medallion Signature Guarantee?

The Medallion Signature Guarantee is a security-based guarantee that allows you to validate your identity, signature, and legal authority in case of fraud. The guarantee is essential when you want to move your securities to another account, give securities as a gift, or when you want to transfer securities of a dead person to a court-appointed representative.

The medallion signature guarantee stamp is a stamp that is used to authenticate transfers or redemption of bonds, mutual funds, and all securities. While most financial institutions impose a medallion signature on every transaction, some financialinstitutions only impose a medallion signature on transactions above a certain limit and it comes at different costs with different requirements based on the financial organization. Some banks charge $75 for $200, 000 worth of security, credit unionscharge $50 for every $100, 000, and the cost rise as the security value increases.

Yes, the medallion signature service has a dollar limit of $250, 000 per transaction, and charges apply based on the financial firm. A Mere signature pass for the Medallion signature? No, the Medallion signature is a special stamp, not a signature formed by one person because if a mere signature can represent a medallion signature, it will have no value.