We have recently lost more than 10 000 Rand in chargeback due to Nedbank’s speed point not recognising fake AmEx credit card number. Transaction went through, proper confirmation received, chargeback arrived three weeks later. That means Nedbank speed points are useless and there is no way to ascertain correctness of credit card data. Merchants beware! Nedbank offers you absolutely zero protection and assistance and you pay monthly fees for nothing!