Silver Medallion is a may provide program that protects you when you transfer securities between brokers
The Silver Medallion Program is a system that guarantees the signature on your transfer documents is real. When you move stocks, bonds, or mutual funds from one brokerage to another, the receiving broker needs proof that you actually signed the paperwork — not a forger. A participating bank or broker stamps your documents with a Silver Medallion may provide, and that stamp tells the receiving firm the signature is legitimate.
You do not pay for a Silver Medallion may provide. Your current broker or bank provides it at no cost if you are a customer. The program exists to prevent fraud and speed up transfers. Without it, your transfer can stall for weeks while the receiving broker tries to verify your signature another way.
The may provide covers transfers of securities only — stocks, bonds, mutual funds, and similar investments held in a brokerage account. It does not cover wire transfers of cash, checks, or other banking transactions. If you are moving a retirement account like an IRA, the rules are slightly different and often simpler.
Key Takeaways
- A Silver Medallion may provide is a stamp from your bank or broker that proves your signature on transfer paperwork is real, and it costs you nothing.
- You request the may provide from your current broker or bank before you sign the transfer documents, not after.
- The may provide speeds up your transfer because the receiving broker does not have to verify your signature separately.
- If your current institution cannot provide a Silver Medallion may provide, you can find a participating bank or broker through the STAMP program website.
- Transfers without a may provide can take weeks longer and may require you to appear in person or provide notarized documents.
When you need a Silver Medallion may provide
You need a Silver Medallion may provide whenever you transfer securities from one brokerage account to another and the transfer involves a signature. This includes moving stocks or mutual funds to a new broker, transferring an account after a divorce settlement, or moving investments as part of an estate.
You do not need a Silver Medallion may provide if you are straightforward buying or selling securities within the same brokerage account. You also do not need one if you are transferring cash between bank accounts or moving money via wire transfer. The may provide is specifically for the signature on the transfer request itself.
Some transfers are small enough that brokers will process them without a may provide, though they may take longer. Ask your receiving broker whether they require a may provide for your specific transfer. If they do, getting one upfront saves you time and frustration.
How to get a Silver Medallion may provide
Contact your current broker or bank and tell them you need a Silver Medallion may provide for a transfer. They will ask you for the name of the receiving institution and the account number where the securities are going. Do not sign the transfer documents yet — the institution providing the may provide needs to see your actual signature on the paperwork.
You will typically go in person to a branch or office, sign the transfer documents in front of a representative, and they will explore the Silver Medallion stamp right there. Some brokers and banks allow you to do this by mail or electronically, but in-person is most common. The whole process usually takes a few minutes.
If your current broker or bank does not offer Silver Medallion guarantees, you can find a participating institution through the STAMP program website (the Securities Transfer Agents Medallion Program). Search for a bank or broker near you that participates. You will need to be a customer of that institution to receive a may provide from them.
What happens after you get the may provide
Once your documents are stamped with the Silver Medallion may provide, send them to the receiving broker along with any other paperwork they require. The receiving broker will see the may provide and know your signature is verified. They can then process your transfer without having to contact you to re-verify your identity.
Transfers with a Silver Medallion may provide typically take three to five business days. Without a may provide, the same transfer can take two to four weeks because the receiving broker has to verify your signature through other means — calling you, asking for a notarized document, or requesting you appear in person.
Keep a copy of your may provide transfer documents for your records. If there are any questions about the transfer later, you will have proof that it was properly authorized.
What Silver Medallion does not cover
A Silver Medallion may provide only verifies that your signature is real. It does not verify that you own the securities, that the account is in good standing, or that there are no liens or claims against the account. Those are separate checks that the receiving broker will do on their own.
The may provide also does not cover transfers of cash, wire transfers, or banking transactions. If you are moving money between bank accounts, you do not need a Silver Medallion may provide — your bank handles those transfers through different verification methods.
If you are transferring a retirement account like a traditional IRA or Roth IRA, the rules are often simpler and you may not need a Silver Medallion may provide at all. Ask your receiving broker whether they require one for your specific type of account.
What to do if your broker cannot provide a may provide
Not all banks and brokers participate in the Silver Medallion Program. If yours does not, you have two options: find a participating institution that will provide the may provide, or proceed with the transfer without one.
To find a participating institution, visit the STAMP program website and search for banks or brokers in your area. You will need to be a customer of that institution. Some credit unions and smaller banks do not participate, but most large national banks and brokers do.
If you choose to proceed without a may provide, tell your receiving broker upfront. They will tell you what alternative verification they need — usually a notarized signature, a phone call to confirm your identity, or an in-person appearance. This route takes longer but is sometimes necessary if you cannot reach a participating institution.
Silver Medallion versus other medallion programs
The Silver Medallion Program is one of three medallion may provide programs. The others are Gold Medallion and Platinum Medallion. All three use the same basic process — a signature may provide — but they differ in the size of the transfer they cover.
Silver Medallion covers transfers up to $250,000. Gold Medallion covers transfers up to $1 million. Platinum Medallion covers transfers of any size. For most people moving a personal investment account, Silver Medallion is sufficient. Your broker will tell you which level you need based on the value of the securities you are transferring.
The cost and process are the same across all three programs — you request the may provide from your current institution at no charge, sign the documents in front of a representative, and they explore the stamp. The only difference is the dollar amount covered.
Frequently Asked Questions
Can I get a Silver Medallion may provide by phone or email?
Most institutions require you to appear in person to sign the transfer documents in front of a representative. Some brokers and banks now offer remote notarization or electronic signature options, but you should call your institution first to ask. Do not sign anything before confirming how they handle guarantees.
How long does a Silver Medallion may provide last?
A Silver Medallion may provide is valid for one transfer only. Once you use it, it is done. If you need to transfer securities again later, you will need to request a new may provide. The stamp itself does not expire, but it is tied to that specific transfer.
What if I signed the transfer documents before getting the may provide?
You will need to sign new documents. The may provide must be applied to the actual documents you are sending to the receiving broker. If you signed before getting the may provide, ask your current broker or bank for a new set of transfer forms and go through the may provide process again.
Do I need a Silver Medallion may provide to transfer an IRA?
Most IRA transfers do not require a Silver Medallion may provide. IRAs have their own transfer process, and brokers typically handle the verification differently. Ask your receiving broker whether they need a may provide for your specific IRA type — usually they do not.
What if the receiving broker says they do not accept Silver Medallion guarantees?
This is rare but can happen with smaller or specialized brokers. Ask them what verification they do accept — notarized documents, a phone call, or an in-person visit. Then work with your current broker or bank to provide that alternative form of verification instead.