- This topic has 6 replies, 4 voices, and was last updated 11 years, 1 month ago by evolusd.
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January 19, 2013 at 1:46 PM #20470January 19, 2013 at 2:36 PM #758037SK in CVParticipant
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.
January 19, 2013 at 8:48 PM #758053XBoxBoyParticipant[quote=SK in CV]If you don’t mind my asking, what sort of transaction do you need it for? [/quote]
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.
January 20, 2013 at 5:17 PM #758110evolusdParticipantI’ve inquired if we accommodate signature guarantees at my office (commercial bank in UTC). I’ll message you on Tue if we do.
January 21, 2013 at 10:07 AM #758142XBoxBoyParticipant[quote=evolusd]I’ve inquired if we accommodate signature guarantees at my office (commercial bank in UTC). I’ll message you on Tue if we do.[/quote]
Thanks,
Xboxboy
January 22, 2013 at 3:00 PM #758251UCGalParticipantWe 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.)
January 22, 2013 at 8:43 PM #758282evolusdParticipantThere 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!
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