Just how money grabbing our Banks have become

[Jacqui Harvey]

I have a business credit card which I always pay up in full every month.  My credit card company have gone paperless, so, I registered online to pay my credit card bill with my RBS debit card.  When I registered I had to sign up for the RBS security check which is done at the end of a transaction by putting in letters from a password.   All done...  Payment went through.  Then I got a message from RBS ... see below
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This message confirms your registration with the RBS Secure Verified by Visa on Thu, Jul 5, 2012 15:58:33(BST) with card ending XXXX-XXXX-XXXX-XXXX. This service provides added safety when you shop online and is offered to you free of charge. For future reference when changing your password a minimum of £1 must be in your bank account at that time.
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So, basically they are forcing this "free" service on you but if you forget your password they will charge £1.00 for you to put in a new password....  It is really beyond belief how low the Banks will go to scrap up the last penny from customers. 

[Diverbaz 1]

Not my understanding of what is written there. It says you must have £1 in the account to change password, in other words the account must be active, it does not say they are going to charge you that pound.

[steveb1]

Are they saying that it costs you £1 or are they just saying that you need £1 in your account
I think that anybody that cant remember there bank passwords should not be allowed an online account for safety reasons
And why is it that people expect every thing for free they are offering you a service that someone needs to pay for

[Steve (redding43)]

Not my understanding of what is written there. It says you must have £1 in the account to change password, in other words the account must be active, it does not say they are going to charge you that pound.

Yep...not charging...just making sure account has money in it

[Jacqui Harvey]

Yes, probably I read it wrongly, but how could you pay online for something if you don't have £1.00 in your account? :
Also SteveB  Nothing is free from the bank as someone with a business I pay through the nose for bank services. I also think if you change a password it is automated, so will not cost the bank anything.
I have so many passwords it's a wonder I do remember them all  It's fine if you just have one to remember.    

[steveb1]

Jacqui I am not defending banks but I have over 12 business accounts and about 6 personal accounts and I know that I would need to employ a bookkeeper to give me the same info that I can extract from my banks on line for a very modest fee
and on personal accounts free.
( how many other words besides bookkeeper
do people know that has 3 pairs of letters consecutively)

[King Frat]

I pay £5.65 a month on a Lloyds TSB business account even when I don't use it! 

[Jacqui Harvey]

I pay for my business account, monthlly, for the rent of my credit card machine and a percentage of every sale. So I am getting nothing from the Bank I don't pay for.
 
A friend in the business had a break in and lost all his stock and got into financial difficulties, so had to take an overdraft.  The bank called him and and told him they were putting up the amount they were taking for each sale on his credit card machine.  He had no choice but to pay it.  It seems the less you have the more they take.

[KKOB]

It's quite simple, you've got to have at least £1 in the account the change the password.

 

but how could you pay online for something if you don't have £1.00 in your account? :

If you have an overdraft facility ?

[stoop]

It's just when you want to change your password that you have to have £1 in the account. It must be something needed in their system I guess.