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A signature guarantee is a service provided by financial institutions like banks and brokerage firms to verify your identity and signature. It is required for certain financial transactions to prevent fraud. This article discusses what a signature guarantee is and answers some frequently asked questions about finding signature guarantee services near you.
A signature guarantee is a stamp or written statement from a financial institution stating that they have verified the identity and signature of the account holder. It serves as a safeguard for the receiving financial institution by ensuring the person requesting or signing for a transaction is indeed who they claim to be.
A signature guarantee is often required for transactions involving the transfer of securities or changes to account ownership. This includes requests to transfer shares to a new broker, add or remove an authorized person on a joint account, or process address changes for accounts with a mailing address different than the one on record. It helps prevent fraudulent activities like identity theft.
Most banks, credit unions and brokerage firms offer signature guarantee services. You can call your current financial institution and schedule an in-person appointment to get your signature verified. Or search online for "signature guarantee near me" to find participating financial institutions close to your location like banks, investment firms or notaries.
No, you do not need to have an existing account with the financial institution providing the signature guarantee. As long as you provide proper identification like a government issued photo ID, they can verify your signature for transactions with other financial firms.
Financial institutions may charge a small fee ranging from $5 to $30 for providing signature guarantee services. The fee depends on the financial institution's individual policy. Be sure to confirm any applicable fees before scheduling your appointment.
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