Does anyone have any information on if one can do a Medallion Stamp for something over $100,000?

I don't know that there is a dollar threshold for using the Medallion STAMP program. But you better be sure you know what your are guaranteeing. For more info you might want to go to www.kemark.com

It depends on what surety bond level your Bank purchased, speak to your program coordinator. You cannot guarantee more than that amount. Also, a letter should be on the stamp, that should also tell you the level. Click here for the guidebook, it's quite helpful.

There are restrictions based on the dollar amount for items you use your medallion stamp on. They depend upon what level you singed up for with STAMP. My institution limit is $100,000 we are prohibited from giving a signature guarantee on any transfer greater than that amount.

OK. I just found out that we do medallion stamp signature guarantees and I know absolutely nothing about this. Each location has a stamp and keeps it locked up to where only officer's have access.

What is the best way for me to get informed on this service? Any help would be appreciated.

Kemark is pretty good about answering any questions you may have. They can be reached at 845-620-9300. If I were you I would first find out who my bank's designated contact person with Kemark is and go from there.

Also, the ABA recently did a pretty good MSG telephone briefing on 9/27 outlining the risks and responsibilities for your bank. They also presented some of the new changes that will be forthcoming. I would find out who the authorized employees are that are permitted to do signature guarantees and have them listen to this presentation, too.

BTW, some banks choose to have only officers of the bank guarantee, but Kemark says it can be any W-9 employee. Our bank has a list of only those individuals who have attended the training and pay close attention to detail.


Hope this helps.

There are changes coming in the program that will require any person using the STAMP to go through a training and certification process. The guidebook is a great resource.

Does anyone know if the training and certification process was implemented? Is it now the case that only certified employees can guaranty signatures?

Yes to both Padric.
http://www.kemark.com/dl/STAMPeSourceCertification.pdf