Bank access - password sharing

JazzyBird

Dear all,
We have recently had a major upheaval at work and the rest of the management team have resigned. Currently I am the only person with access to our bank accounts on the internet and the owner of the business has demanded my passwords. I am not happy about this and it's always been something that I know that you don't do. I have tried arguing that it's against my professional ethics, but he's quite happy to tramp over them. He's tried the "I pay your wages" arguement, but I am still resisting. I was wondering if someone can give me something a bit more concrete to argue my case? I don't really want to contact the bank because of the current situation. I am quite happy to relinquish my payments authorisation card, but am not happy for other people to be able to log in in my name.
Any advice gratefully received.
Many thanks
JazzyBird

Rachel

Is you boss authorised to sign cheques? Can he not get himself setup? The bank would not be happy if they found out as you are the one they have done the checks on.

What does he want to do? Can you not sit with him and show him?

I wouldn't give it either to be honest if he can't get himself setup, I would be quite concerned and question what he wants mine for.

Hope things get better

truecockney

I agree with Rachel. It would be more secure if you were to assist getting them set up with an online banking profile directly.

The only other arguement I can consider as being worthy is what would happen if dual access would be required (he was in authorising payments and you required access for management accounts, auditors, and the like).

Hasan.Ahmet

Bank Account

"owner of the business"
Who is the owner of the bank account?
Who signed the bank mandate?
What is the bank mandate?
Hope answers help.

JazzyBird

Bank access - password sharing

Dear all,
Thanks for you responses.
The online access account is clearly in my name and has (like Rachel said) been connected to me and my personal details. I am also sure that the bank would not be happy for me to be giving out my password, and I may even call our account manager tomorrow to ask this.
I have been told they have requested this information from me "not so it can be used, but in case you get hit by a bus!". Which to me sounds like complete rubbish! I have suggested that they sort out another account for someone else in case this happens.
I would not be surprised if this is just a tool in order to try and get me to resign, which makes their life easier and means no redundancy settlement!
JazzyBird.

Bluewednesday

I am a bit sympathetic to your boss as he is the owner of the business but I understand your dilemma too.

Can't he set up his own access to his own bank account?

JazzyBird

Well he has never been active in the running of the company before. It's only because the rest of the management team resigned with immediate effect that he's involved.
I have told him that we can set him up a log-on and that is the tak I am going to be following. If he insists on knowing my password I will officially notify the bank that I have been forced to give out my log-in information against my wishes. There are a lot of circumstances surrounding this that I can not go into to give you guys the same full picture that I have.

Rachel

I hope things get better for you.