Silver Medallion is a bank credential that lets you move securities without extra paperwork
Silver Medallion is a certification program run by the Securities and Exchange Commission (SEC) that authorizes banks, brokers, and transfer agents to may provide the signatures on documents when you move stocks, bonds, mutual funds, or other securities from one institution to another. When a financial institution holds Silver Medallion status, it means the SEC has verified that the institution meets specific capital and operational standards. The benefit to you is simpler transfers: instead of waiting for medallion signature guarantees from a notary or lawyer, your bank can provide one directly if it holds this credential.
The three medallion programs—Silver, Gold, and Platinum—differ mainly in the dollar value of transfers they can may provide. Silver Medallion covers transfers up to $250,000 per transaction. If you are moving a larger portfolio, you would need Gold ($10 million) or Platinum ($500 million and above). Most individual investors never encounter the limit because $250,000 covers the vast majority of personal account transfers.
Key Takeaways
- Silver Medallion status means your bank can provide signature guarantees for securities transfers up to $250,000 without sending you to an outside guarantor.
- The program is run by the SEC and requires participating institutions to meet strict capital, insurance, and operational requirements.
- You do not pay a fee to your bank for a medallion signature may provide; the cost is typically absorbed by the institution or the receiving broker.
- If your bank does not hold Silver Medallion status, you can still move securities, but you may need to visit a notary public or lawyer for a signature may provide, which can add time and cost to the process.
How Silver Medallion Speeds Up Securities Transfers
When you move securities from one brokerage or bank to another, the receiving institution needs proof that you authorized the transfer. A medallion signature may provide is that proof—it is a bank's or broker's sworn statement that your signature is genuine and that you have the authority to move the assets. Without it, the transfer sits in limbo while the receiving firm tries to reach you or the sending firm for verification.
If your current bank holds Silver Medallion status, an officer there can provide the may provide on the spot. You sign the transfer documents in front of the medallion officer, they stamp and sign the paperwork, and you hand it to the receiving institution. The whole process takes minutes instead of days. If your bank does not hold the credential, you have to find a notary public or visit a law firm that offers medallion guarantees, which adds steps and often costs money out of pocket.
The SEC maintains three separate medallion programs because different institutions handle different volumes and types of transfers. Silver is the entry-level program and covers the most common scenario: an individual moving a moderate-sized portfolio. Institutions that want to offer Silver Medallion must maintain a minimum net capital requirement and carry specific insurance coverage. This vetting protects you because it means the guarantor has been checked and has financial backing if something goes wrong.
Which Banks and Brokers Offer Silver Medallion
Most large national banks and full-service brokerages hold Silver Medallion status. This includes institutions like Bank of America, Wells Fargo, Charles Schwab, Fidelity, and E*TRADE. However, smaller regional banks, credit unions, and online-only brokers often do not. Before you open an account or move assets, you can ask the institution directly: "Do you hold Silver Medallion status?" or "Can you provide medallion signature guarantees?"
The SEC does not publish a public list of medallion-certified institutions, so you cannot look it up online. Instead, contact the institution's main customer service line or visit a local branch and ask. If the person you reach does not know, ask to speak with someone in the operations or transfer department—they will have the answer. Many institutions list it on their website under account services or frequently asked questions.
If you are moving securities and your current institution does not hold Silver Medallion status, the receiving broker can often tell you where to get a may provide. Many brokers have relationships with local notaries or law firms that offer medallion services. Some will even direct you to a specific provider or handle the coordination for you.
What Happens If Your Bank Does Not Hold Silver Medallion Status
A missing medallion credential does not stop you from moving your securities—it just adds a step. You will need to obtain a medallion signature may provide from an authorized provider outside your bank. These include notaries public who hold medallion certification, law firms, and independent financial service companies. The process is similar: you sign the transfer documents in front of the guarantor, they verify your identity, and they stamp and sign the paperwork.
The cost varies. Some notaries charge $25 to $50 for a medallion may provide. Law firms may charge $75 to $150 or more. Some brokerages will cover this cost if you are moving assets to them, especially if the transfer is large. Always ask the receiving broker whether they will pay for the may provide before you seek one out—you may not need to pay anything.
The timeline also changes. If you need a may provide from a notary or lawyer, you have to find one, schedule an appointment, and travel there. This can add three to seven business days to your transfer. If your bank holds Silver Medallion, you can often get the may provide the same day you decide to move the assets.
The Difference Between Silver, Gold, and Platinum Medallion
| Program | Maximum Transfer Value | Who Uses It |
|---|---|---|
| Silver Medallion | Up to $250,000 per transaction | Individual investors and small accounts |
| Gold Medallion | Up to $10 million per transaction | Larger accounts and institutional investors |
| Platinum Medallion | $500 million and above | Very large institutional transfers |
The three programs exist because the SEC wants to match the guarantor's financial strength to the size of the transfer. An institution guaranteeing a $500 million transfer needs more capital and insurance than one guaranteeing a $250,000 transfer. Silver Medallion institutions must maintain a minimum net capital of $25 million and carry fidelity bond insurance. Gold and Platinum institutions have higher requirements.
For most people, Silver Medallion is the only one that matters. You would only encounter Gold or Platinum if you were moving a very large portfolio, managing a trust with substantial assets, or working in an institutional role. Even then, the receiving broker usually handles finding the right medallion level—you do not have to figure it out yourself.
What You Need to Know Before Moving Securities
Before you initiate a transfer, confirm that your receiving institution can accept medallion signature guarantees. Nearly all brokerages and banks do, but some smaller or specialized firms may have different requirements. Call the receiving institution's transfer department and ask: "What do you need from me to move securities from another firm?" They will tell you whether they need a medallion may provide and what form it should take.
Next, check whether your current institution holds Silver Medallion status. If it does, you can get the may provide there. If not, ask the receiving institution whether they will cover the cost of obtaining one elsewhere, or ask your current institution for a referral to a notary or lawyer who can provide one. Some institutions will even coordinate this for you as part of the transfer process.
Have your account numbers, the names and quantities of securities you are moving, and your identification ready. The medallion officer will need to verify your identity before signing off on the may provide. Bring a government-issued ID and be prepared to answer security questions about your account.
Frequently Asked Questions
Do I have to pay for a medallion signature may provide?
Not always. If your bank holds Silver Medallion status, the may provide is usually free as part of your account services. If you need to get one from an outside notary or lawyer, you may pay $25 to $150 depending on the provider. Many receiving brokers will cover this cost if you are moving assets to them, so ask before you pay out of pocket.
What if I need to move more than $250,000?
If your transfer exceeds $250,000, you will need a Gold or Platinum medallion may provide instead of Silver. Ask your bank or the receiving institution which level you need. If your current institution does not hold the higher level, they can refer you to one that does, or the receiving broker can coordinate it for you.
Can I move securities without a medallion signature may provide?
In some cases, yes. If you are moving securities within the same institution or to a related account, you may not need a medallion may provide. Some brokers will also waive the requirement for small transfers or if you visit in person with identification. Always ask the receiving institution what they require before you assume you need one.
How long does a medallion signature may provide take?
If your bank holds Silver Medallion status, you can often get the may provide the same day you request it. If you need to find an outside notary or lawyer, add three to seven business days. Once you have the may provide, the actual transfer of securities typically takes three to five business days to settle.
What happens if I move securities without a medallion may provide when one is required?
The receiving institution will reject the transfer or put it on hold while they try to contact you for verification. This delays the move by several days and can be frustrating. It is easier to get the may provide upfront than to deal with a rejected transfer later.