OT: Where can I get a signature guarantee?

User Forum Topic
Submitted by XBoxBoy on January 19, 2013 - 2:46pm

Hey all,

Anyone know where to get a signature guarantee these days? Used to be that your local bank would do it, but not any more. (Not sure why, but I've checked with a number of them and they all say they've stopped doing that.)

Any suggestions?

Thanks,

XBoxBoy

Submitted by SK in CV on January 19, 2013 - 3:36pm.

If you don't mind my asking, what sort of transaction do you need it for? They're most commonly used for transfer of securities, and almost invariably done by a custodial agent or bank with whom you have an ongoing relationship. With electronic title, the need is also much less frequent today that it was even 20 years ago. The guarantee is not without risk, so particularly in transactions to which banks are not a party, they've stopped providing the service.

Submitted by XBoxBoy on January 19, 2013 - 9:48pm.

SK in CV wrote:
If you don't mind my asking, what sort of transaction do you need it for?

My wife has an account with Vanguard in her previous marriage name. We wanted to get the name updated to her current name, and Vanguard is requiring a signature guarantee.

Submitted by evolusd on January 20, 2013 - 6:17pm.

I've inquired if we accommodate signature guarantees at my office (commercial bank in UTC). I'll message you on Tue if we do.

Submitted by XBoxBoy on January 21, 2013 - 11:07am.

evolusd wrote:
I've inquired if we accommodate signature guarantees at my office (commercial bank in UTC). I'll message you on Tue if we do.

Thanks,

Xboxboy

Submitted by UCGal on January 22, 2013 - 4:00pm.

We ran into the same thing with Vanguard. (slightly different reasons - but they needed a signature guarantee)

At the time we still had an account with Chase (formerly WAMU) - and they were able to do it.

Credit union couldn't do it.

It's a reason to keep a bank account open (vs just credit union.)

Submitted by evolusd on January 22, 2013 - 9:43pm.

There must be some risk involved, because my banks policy is to only provide signature or medallion guarantees to existing, well known clients. Wish I could help!

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.