Just when you thought your ‘Secure’ online and telephone banking password was safe from any one seeing it, its time to think again, Lloyds banking customer Steve Jetley from Shrewsbury, UK, phoned up his bank (Lloyds TSB Bank) and discovered that his password “Lloyds is pants” had been changed to “no it’s not” by a bank employee. He had made this password after having an argument with the bank over insurance.

He said he was then banned from changing it back or to another password which he chose “Barclays is better”.

Lloyds claims the employee has now been fired and Mr Jetley has received a full apology.   But this incident makes you wonder how many bank employees actually have full unrestricted access to your online banking password.

A statement released by the bank said: “We would like to apologise to Mr Jetley.

“It is very disappointing that he felt the need to express his upset with our service in this way. Customers can have any password they choose and it is not our policy to allow staff to change the password without the customer’s permission.

“The member of staff involved no longer works for Lloyds TSB.”

Lloyds TSB stressed there was no security lapse in this case.

A spokesperson said: “On the majority of transactions advisors cannot read customers’ passwords.

“In this case it was a business banking customer using a system where more than one person from a business can check their balance.

“In these cases an advisor can read the full password.

“But if such customers require more complex transactions, then full security procedures apply and advisors cannot read secure information.”

At this moment in time when the credit market isnt in the best state, security issues like this could make people think twice about saving there money with Llyods TSB bank.