A signature guarantee stamp protects against unauthorised transactions of shareholder investment securities. An official at a participating financial institution issues the signature guarantee for the transfer of funds between shareholder accounts. The financial officer checks the signature of the stamp requester for authenticity before validating the document by stamping with the signature guarantee stamp.
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Things you need
- Account information
Initiate a request for a signature guarantee at your bank, credit union or broker's office. Your banking facility may require that you complete a request form for the transaction and guarantee stamp. Write a letter requesting a signature guarantee stamp for transfer of securities if your bank does not have a request form.
Present your identification to the bank official. If there are multiple owners on the account, all owners must show identification. Check with your institution to find out what forms of identification are accepted.
Sign your signature in the presence of the bank official. All members on the account must also sign to acknowledge the transaction for transfer of securities. The bank official or broker will validate the authenticity of all signatures by signing his name and title. He will then issue your signature guarantee stamp that approves the transfer of funds to take place.
Tips and warnings
- You may incur a nominal fee for the signature guarantee stamp. You must also purchase a surety bond in a guarantee amount that is equal to the transaction amount or greater.
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