Do very many of you use a Medallion Stamp? We currently use it for anyone and I think this is a liability we don't want to have. We don't charge a fee at this time. Any thoughts? We do keep logs now. We have a Trust Department and I wonder if we should limit the stamp use to them.

We used to have a Medallion Stamp but have since stopped. There can be a large liability especially if the person using the stamp is not trained. Additionally we would not use the stamp for anyone other than customers.

Only for existing customers and only 2 officers can use it. They have gone through training.

At my prior bank, we had to go thru training and only the manager and assistant manager could use the stamp for customers only. It can definitely be a liability. My new bank does not use one.(thank goodness)

We do use it. Only certain officers can do it and MUST go through training. The dollar amount is limited so we have to ask BEFORE we do the guarantee to make certain it is within that limit.

My current bank does, same as sun shine lady, managers and assistant managers can use the stamp for customers after proper documents are received. I hate this as a liability. Risk vs Reward, its all risk and barely any reward. There is "supposed charge" for the stamp, but managers barely charge it in the name of customer service. Half the time they call to central department to ensure they have proper documents. I think you have good idea KY Woman, limiting the use.

We have one. Only a few people are trained on it, CEO, Director of Ops and me. We have a dollar limit, any items MUST be under it. We wanted to provide it to non-members for a charge, but we found out our insurance only covers us if we do it for members.
So I would be sure to check your insurance coverage before going much further!
-K