Posted by Larry Wilson on 9/17/13 2:10pm
Msg #484876

Medallion Signature Guarantee

Does anyone have experience as a Medallion Signature Guarantee?
Is it worth it and how do you qualify for it?

Reply by 101livescan on 9/17/13 2:12pm
Msg #484877

You need to work for a financial institution, like Wells Fargo, Bank of America, Chase, Merrill Lynch, Charles Schwab, Fidelity, etc. to be a medallion approved notary.

Reply by LKT/CA on 9/17/13 3:26pm
Msg #484879

The financial institution's branch manager or an authorized agent employed by the bank handles signature guarantees. Notaries public only witness signatures. A medallion signature guarantee means that if the signature is forged on negotiable instruments - stocks, bonds, etc. - the financial institution actually guarantees the MONIES. As notaries, we have nothing to do with the doc - we only witness the signature.....the financial institution guarantees that the signature is authentic or they pay the loss.

Reply by LKT/CA on 9/17/13 3:33pm
Msg #484881

Here's a link to more info

http://www.bankersonline.com/articles/bhv14n04/bhv14n04a13.html

Reply by Marian_in_CA on 9/17/13 3:29pm
Msg #484880

Medallion guarantees aren't the same as notarial acts. Medallion guarantees are done by banks and are backed by insurance policies. One may be a Notary Public and also issue medallion guarantees... I'm not sure that a non-bank employee notary can walk in an issue a medallion guarantee. I've never heard of that.


Good 'ole PAW answered this quite well many, many years ago at: Msg #9904