A medallion seal also is called a medallion signature guarantee or medallion stamp. It is an official stamp or seal put onto financial documents, such as securities, that require a signature to verify that the person or persons signing the document are really who they say they are.
Medallion Seal Uses
If you plan to transfer money from mutual funds, the stock market or other securities, it is likely you will need a medallion seal. Once an institution such as a bank has applied the seal to your documents, it is vouching that you are you and agreeing to take responsibility for false signatures used to commit fraud. An insurance policy covers the money being transferred in the event of theft.
Obtaining a Medallion Seal
To obtain a medallion signature guarantee, visit a location -- such as a savings bank, a commercial bank, a broker dealer or a credit union -- that is certified as a medallion signature location. If you are not sure if your financial institution offers this service, call ahead. You will need original paperwork from the securities company and must follow the directions to fill out the form completely before obtaining the seal.
Medallion Seals vs. Notary Public
A notary public is an individual or company licensed to act on behalf of the government to obtain a similar guarantee of signature, often used for the transfer of deeds or authenticating wills. The medallion signature guarantee and notary public services are not the same thing. You cannot obtain a medallion seal from a notary public.