Recently I received a call from a woman, requesting information about “Medallion Seal or “medallion notarization,” She was looking for a Mobile Notary to come to her location, for a Medallion Seal. Her elderly’s caregiver was donating a bond that required a “Medallion Seal”
Exactly what service is being requested?
a “medallion signature guarantee,” is a special signature guarantee required for the sale or transfer of securities. The most common use for a signature guarantee is to authenticate the right to sell or transfer securities. It protects the person who owns the stock or certificate and makes it more difficult for someone to forge a signature. To be able to affix the signature guarantee stamp or imprint, financial institutions join a signature guarantee program, the most widely used being the three Medallion Signature Guarantee Programs. Like a notary service, a representative of a participating financial institution reviews your paperwork, witnesses your signature and then, in applying the signature guarantee stamp, guarantees that your signature is genuine. The stamp uses a bar code, special ink, and other security features to make it more difficult to copy or counterfeit.
This is different than a notary’s purpose in performing an acknowledgment or oath/affirmation notarial act. A Notary determines that the person who signs a document in her presence is in fact who that person claims to be. When appearing before a notary proper identification is presented, the notary compares your appearance, name and signature to the identification, & verifies the signature matches and applies a seal to the document. The notary, in effect, acts as an impartial witness and implements requirements that deter fraud.
A medallion signature guarantee is the issuing financial institution’s certification that a signature related to sale or transfer of securities is authentic. Medallion signature guarantees have a completely different purpose from notarization, & should not be confused with notarization, and cannot be performed by a notary unless he/she is a certified participant in a financial institution’s medallion signature guarantee program. Any requests for a “medallion signature notary” or “golden medallion notarization” or similar should be referred to a bank. The requester may contact any local bank and ask if the bank can issue a “medallion signature guarantee.”