Medallion signature guarantee

A Medallion signature guarantee is something needed to transfer stock. A new requirement introduced after 9/11. http://www.sec.gov/answers/sigguar.htm

In the U.S. one can obtain this from one's bank. Here, only certain specialists are registered to provide this. Consequently they can charge whatever they like. I have been quoted £1200 + VAT = $2,200 as the cost to obtain this stamp on my document. On top of that, I have to provide the guarantor with solicitor-certified copies of passport and bank statements, so there is additional cost of a lawyer to do that. I would be cheaper to fly to the U.S. for a few days!

I need this so I can gift some shares to a U.S. non-profit charity. The London Embassy specifically states that they do not provide this service.

Has anyone encountered this problem and found a good solution? I never thought it would be so difficult to make a gift to charity.

Here is the form on which the medallion signature guarantee is required https://individual.troweprice.com/Retail/Shared/PDFs/GiftsNonProfitOrg.pdf

Interestingly, the T. Rowe Price person to whom I spoke told me he was not allowed to email this form to me (because I live outside the U.S.), but he could tell me the web address link! Figure that.

This signature is required even when transferring stock funds between husband and wife and is a real pain.  We don't have a bricks and mortar bank but were pleasantly surprised that the local branch of a Chase bank did the Medallion signature and stamp for us for free because we do have Chase bank credit cards so they considered us to be Chase customers.

I had no idea how expensive it might be to do so while living in the UK.  That sucks.

Vanguard once asked me for one of these. I explained that I was outside the US and they asked me to get one from the US Embassy, but I then pointed out that embassies don't offer this service: http://london.usembassy.gov/cons_new/acs/scs/medallionsignatureguarantee.html

In the end Vanguard agreed that it was not reasonable to expect me to obtain something not generally available within the country where I live, and they handled my request as an exception, without the Medallion Signature Guarantee.

I would suggest trying to persuade your institution to relax their requirements in your case.