Medallion Guarantee
Why do I need a Medallion Guarantee?
A Medallion Guarantee is designed to protect against fraudulent transactions. It can be obtained from banks, savings associations, credit unions, and brokerage firms that participate in the Medallion Program. Generally, you need to be a client of the institution providing the guarantee. Notary publics do not participate in this program.
The Medallion Guarantee bar-coded stamp must be included near each signature being guaranteed. The guarantee must include the name of the guarantor institution and the signature of an authorized individual.
A Medallion Guarantee will be required for all authorized owners of an account when:
- Transferring the ownership of an account to another individual or organization
- Changing a name
- Adding or removing a registered owner on an account
- Redemption proceeds are requested to be mailed to an address other than the address of record or to a new address of record if requested within 15 days of the address change
- Requesting a written redemption for more than $100,000 to be sent to a bank account that is not on file with us
- All of the owners of the account are not included in the registration of the bank account provided
- A redemption check or investment in another account is not payable to all account owners as registered
- A redemption request is payable to a third party
