ReceiveAndPay doesn't allow you to create your own password. They probably don't trust people to come up with a good one. Fair enough. So they generate a new password for you on an HTTPS page, and then sends it loud and clear to you by email! Good work gentlemen. ;-)

But wait, it gets better. I have sent them an email about this. Here is what I just got back:

Answer to your question: Sir, we have taken good note of your message. The passwords are generated automatically by our system.

Right, thank you very much :-)

So either there is a dumbass at the other end of the line, or (more probably because it is Saturday), that was an automated response. In that case, they should really be putting their time and energy into thinking about their security policy instead of trying to get clever about the contents of their (former ;-) customers messages...