Medallion Signature Guarantee vs. Notary Public: What You Need to Know

A frequent source of confusion for Minnesota residents handling financial transfers is the difference between a Notary Public and a Medallion Signature Guarantee. A Notary Public is commissioned by the state to verify a signer's identity, ensure willingness, and witness the signature. This is sufficient for real estate deeds, wills, and contracts. However, if you are transferring securities, such as stocks or mutual funds, financial institutions often require a Medallion Signature Guarantee. This is a special stamp provided by participating banks and brokerages. It not only verifies your identity but also legally binds the financial institution to cover any losses if the signature turns out to be forged. Mobile notaries cannot provide Medallion guarantees; you must visit a financial institution where you hold an account to obtain one.