A customer recently came in asking to have various papers signature stamped, which was done. He returned, only to have his Medallion stamp rejected because "the stamp number had an 'E' and as a result, was limited to only $100,000." Is this true? and where can I find more information in reference to this Medallion Stamp rule.

Thanks,
Carlos

The Medallion Stamp Program is from Kemark Financial Services their telephone 845-620-9300

Kemark will explain it all, but the E = $100,000 limit is true. D = 250K, C = 500K, etc.

And the purpose of the Stamp is to guarantee the signature for securities transactions. Read about it here.

Opinions are my own and not those of my employer.

are there any banks in modesto california that handle this type of service?

Click here for stamp rulebook, page A1-8 lists the letters and their equivalent dollar amounts.