Staff at the Bank of England are being balloted on whether to take industrial action over pay.
The Unite union branded the bank "arrogant and out of touch" over a "derisory" below inflation pay increase imposed on staff.
Unite regional officer Mercedes Sanchez said: "Staff at the Bank of England will today start voting for industrial action due to their employer's outright refusal to negotiate a fair pay deal for its workforce.
"The bank's disgraceful snub of low-paid staff stinks of arrogance and represents an organisation thoroughly out of touch with the reality of the pressure staff face meeting their costs of living.
"It is a source of shame that an iconic symbol of financial services in the UK is choosing to ride roughshod over the concerns of its dedicated and hardworking staff and impose this derisory pay deal.
"Unite is calling on the Bank of England to come back to the negotiating table to discuss a fair pay deal for the employees in order to avoid any industrial action. Unite is prepared to talk and to reach a fair settlement.
"The Bank of England should be setting the highest standards within the financial services industry, not treating its workforce with contempt and forcing them to take a real-terms pay cut."
The ballot, which closes on June 21, involves staff in the maintenance, reception and facilities departments.