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#1292468 - 11/24/09 05:47 PM Visa Gift Cards and Medallion Stamp
markp Offline
Gold Star
Joined: Jan 2007
Posts: 382
New Jersey
With regards to Visa gift Cards we have the kind that are not preloaded and was wanting to know where you do guys store your non preloaded cards in the branch? Also where do you require your branches to store their Medallion Stamps and who is generally approved to use it? The reason I am asking is I Just finished our branch audits and now I have to explain why I think both should be under dual control at all times. Any help would be great.

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General Discussion
#1292630 - 11/24/09 07:29 PM Re: Visa Gift Cards and Medallion Stamp markp
M J Kidney Offline
New Poster
Joined: Aug 2009
Posts: 2
The Medallion program has a great "certification" training program that I would suggest that audit takes through Kemark. It contains best practices and clearly discusses the financial risks of a bank in the program. That is where I would start.

Nonloaded Visa gift cards should be kept in a vault under dual control.

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#1294470 - 11/27/09 03:58 PM Re: Visa Gift Cards and Medallion Stamp M J Kidney
Georgia Plum

We also required our Medallion Stamp to be stored in the vault.

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#1295169 - 11/28/09 04:06 PM Re: Visa Gift Cards and Medallion Stamp markp
RBanker Offline
Power Poster
Joined: Jul 2003
Posts: 2,675
Austin Texas
Our gift cards are stored in a vault just like any other negotiable instrument - travelers checks, cashiers checks, etc.

Medallion STAMP - look at the cost for replacement, the liability for mis-use, etc - those should be your arguments for not just in a secure area, but a dual control secure area.
My comments are absolutely no reflection of, nor influenced by, my employer - take them at your own risk.

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