I was a bit disappointed with the Nedbank Greenbacks system. I had linked a small business (sole proprietor) account on which the turnover is about R 1.2 million a year. The business account has a R 55k overdraft facility which I never use. However, one time Neotel mistakenly debited this account 4 times on one day with a R 4000 invoice and the account became overdrawn to the tune of about R 1500 for a few days until Neotel credited it. I only found out about the debit the day after it occurred.
Nedbank said that Greenbacks accounts can never be overdrawn, and since this was the case, I could no longer link this account to the Greenbacks system and removed it. I had spent about R 800 000 in nearly 10 months and it was all cancelled.
They still charged me the R 149 annual fee