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FOLLOWING ARE SAMPLE PROCEDURES FOR THE USE OF SIGNATURE GUARANTEE

FOLLOWING ARE SAMPLE PROCEDURES FOR THE USE OF SIGNATURE GUARANTEE 2026

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The document outlines recommended procedures for bank officers regarding the use of signature guarantees with Medallion Stamps in retail banking. It emphasizes the importance of verifying customer identities, ensuring legal capacity to sign, and confirming appropriate endorsement authority to mitigate potential liability for the bank. The guidelines include specific steps for handling various scenarios, such as decedent transfers and endorsements by fiduciaries, while also stressing the need for safeguarding Medallion Stamps and retaining supporting documentation.

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Begin by reviewing the recommended procedures outlined for bank officers. Familiarize yourself with the importance of guaranteeing customer signatures and the potential liabilities involved.
Fill in the customer's details in the appropriate fields, ensuring that you only guarantee signatures of customers you know or can verify through identification.
Compare the signature on the endorsement with the signature card on file. If necessary, request proper identification such as a driver's license or company ID.
Ensure that all signers are present when guaranteeing multiple signatures. If one is absent, consider using a power of attorney form.
After completing all necessary fields and verifying information, apply the Medallion Stamp securely to finalize the guarantee process.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What are the rules for bank guarantee?

Before approving the BG, the bank will analyse the previous banking history, creditworthiness, liquidity, CRISIL, and CIBIL rating of the applicant. The bank would also examine the BG period, value, beneficiary details, and currency as required for the approval.

Can a lawyer do a medallion signature guarantee?

Lawyers cannot give either a regular signature guarantee or a medallion signature guarantee. Again, an institution that can do a signature guarantee probably will require that a person have an account at that institution before it will give a medallion signature guarantee.

What is a signed guarantee?

A person gets a signature guarantee through a registered financial institution which assures that a signature is actually from its purported signor for a small fee. The financial institution then bears any losses resulting from fraud if the signature turns out to be invalid.

Can a Notary do a signature guarantee?

While a Notary can acknowledge the validity of your signature and that you signed a document as your free and voluntary act, they cannot provide Medallion Signature Guarantees.

What is required for a signature guarantee?

What types of documents do I need to provide to get a medallion signature guarantee? All medallion requests require you to provide a valid government-issued photo ID, the document or documents being stamped and supporting documents (which vary depending on the request type).

Why is it so hard to get a signature guarantee?

Why Is a Medallion Signature Guarantee So Hard to Get? Medallion signature guarantees expose financial institutions to risks and liabilities; therefore, they do not issue them readily or to just anyone. Typically, they are provided for well-established customers for a nominal fee.

FOLLOWING ARE SAMPLE PROCEDURES FOR THE USE OF SIGNATURE GUARANTEE 2026

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