Do other banks keep their stamp in their cash vaults so that 2 employees must be present to access it?

would we be criticized if the stamp was maintained in a locked area that only limited staff (3) are allowed access? I assume so because even though the PRACTICE is that the area requires 2 staff to enter, keys would allow access to this area alone.

Once the stamp is removed from the vault, what is to prevent an employee from removing the stamp from the bank? should 2 emploeyes be present when the stamp is being used also?

Our 15 branches keep the stamp and log in vault under dual control. Only officers are allowed to perform guarantees. On very rare occasions, a Sr. Officer may take stamp to client's POB to perform guarantee.

When I audit this, I look to make sure that only the persons registered to use the stamp have access to it. I don't want the stamp in general circulation. We treat it more like a person's wire token.

I'm not sure what good the presence of a second person during the stamping would get you....but as I write this I'm thinking about one of our officers that has an assistant there to update our log and get copies of the documents etc for our retention process. She's not there for stamp security, but she is there for the process. (She didn't go through the training and registration to stamp though and has no access to the locked stamp.)

Same here (17 branches)

I believe the guide book says to treat the stamp as cash and store accordingly.

I have a different question on medallion stamps....does anyone charge for this service? If you were going to start charging for this service, is a notice required?