Nebank Internet Banking does not accept password manager credentials

Using the new Nedbank online banking via a browser (tested in Chrome and Safari) with a Password manager does not work. Nedbank seems to think it is more secure to scramble the password from the Password manager into something completely different in the password field in the login, so that you need to either type it in manually (for anybody to see that is watching you use your keep board) and/or, then clicking the eye to see that it is typed correctly (for anybody watching your screen to see).

In this day of internet security threats, I find this remarkably insecure.