Nochex - Should I Be Worried? Can I Trust Them?

[elitemanuals]

Ok i have been accepting NOCHEX payments on my website for about 1 week now. After researching about them, i have heard a few horror stories of people saying that they are a scam and they steal your money.

I have transfered £300 that is due in wednesday. and i have a further £200 in my account ready to transfer.

I am taking around £500 worth of payments a week in £10 and £5 orders.

some people are saying that they hold back £500 incase of chargebacks and some people are saying that they just steal your money and it never goes into your bank account.

I am getting very worried now.. should i be? Has anyone had any bad experiences with NOCHEX?

i am in the process of making a moneybookers & sagepay account because the word on the net is that they can be trusted! but what about nochex? can i trust them?

Thanks, Mike.

 

[Paul Kelly ICHYB]

They do hold funds back for a few months, but, to me, they were very open about that.

As for 'stealing' money, that is a harsh statement and be very careful how you use it!!!

They have always paid us what we have requested!

 

[neit]

I recently been looking into them as possible alternative
to paypal. The features they offer look fine but, would also appreciate
the views of others who have used them before.

 

[sysops]

It doesn't take much reading on forums to convince oneself that Nochex are as dodgy as a very dodgy thing with small dodgy bells attached to it and a pretty dodgy red bow.

 

[Nochex Ltd]

Hi Mike,

While we appreicate you are ideally looking for other users to reassure you about our service, we thought it important to clear up what issues we can directly to avoid speculation.

While 99.9% of the merchants who use Nochex to accept payments are reliable and honest, in a very small number of cases we may find merchants who are working outside of our Acceptable Use Policy or who we may believe are acting outside the law. We check all our accounts rigorously and on a regular basis to ensure that this does not happen, however if we do find something that is of concern we will be forced to take immediate action.

As with all payment processors and financial services companies, we comply with UK law and work within the regulations laid out by our governing bodies. This may mean that in some instances an account will be shut down, sometimes without warning. All our merchants are checked on application and we agree to process payments for them based on what we see and understand their business to be doing, if however a merchant makes significant changes to their service or product range after being approved by Nochex, which results in the merchant working either outside of our AUP, or outside of UK law, then we have no choice but to terminate the contract we have with that merchant. In order to comply with UK legislation, we are sometimes unable to give warning or reasons for our decision to terminate the contract.

If an instance arises where we are forced to terminate the contract we have with a merchant, in some cases the balance of their account may not be returned immediately. Not all account closures result in the funds being held by Nochex however. We may have to retain funds from closed accounts for a period of time (usually 180 days from the last transaction) and this follows standard industry practise, and again is set out in the standard merchant terms. Money is held back in these instances to cover commercial risks, for example; to cover any refunds and chargebacks that may occur during that period.

Mike- if you have withdrawn funds from your account, these will reach your bank account within 3 working days.

I hope that this will go some way to reassuring you about some of the reviews you may have read.

Many thanks

The Nochex Team

 

[Paul Kelly ICHYB]

Maybe I am now tempting fate, but I have not had any issues (ok, they are not used an awful lot, most people using Paypal)!

Or maybe I am that unique client!

 

[brownie]

I've never had any issues with Nochex either, I'm sure you can read plenty of scare stories about Paypal.

 

[elitemanuals]

They do hold funds back for a few months, but, to me, they were very open about that.

As for 'stealing' money, that is a harsh statement and be very careful how you use it!!!

They have always paid us what we have requested!

i dont mean to be harsh... its just what i have read up on some reviews. but as nochex have explained they do terminate some accounts that misuse their policys.

I would love to stick with NOCHEX as my main payment for my website.

I must admit that since changing from paypal to nochex... my sales have deffinatley increased!

 

[elitemanuals]

If all goes good within the next few weeks then i will be upgrading my NOCHEX account and using them as my primary payment source. I will keep you all updated .

 

[TotallySport]

If all goes good within the next few weeks then i will be upgrading my NOCHEX account and using them as my primary payment source. I will keep you all updated .

We have never had an issue with them, although we haven't used them for a while.

Retaining funds will happen on any payment provider on the right conditions, keep squicky clean and you shouldn't have a problem.

Sagepay should be your primary payment gateway, it should be far cheaper and much more intergrated into your web site, IMO anyway.

Good Luck

 

Nochex is great (so far) never had issues with them. Been with them for about a year and a bit now. Whenever you get a chance to accept PayPal alternatives do so. It's not good to put all your eggs in one basket...

Other great and trustworthy processors;

Moneybookers
PPPay
SagePay

 

[elitemanuals]

Nochex is great (so far) never had issues with them. Been with them for about a year and a bit now. Whenever you get a chance to accept PayPal alternatives do so. It's not good to put all your eggs in one basket...

Other great and trustworthy processors;

Moneybookers
PPPay
SagePay

Moneybookers + sagepay is taking long to setup... my application is still being reviewed.

I do have a PPPAY account but they don't release funds to you untill the buyers have verified there own account (which sometimes they don't verify).

I am really happy with nochex so far... there system is simple and easy for customers to checkout and the fees are pretty low.

 

[sally_b]

Hi, I've been using Nochex as one of my payment processors and would recommend them.

 

[jaspey]

Ive got about £500 in my nochex account thats been there for nearly 2 years and they will not let me draw it out after countless amounts of correspondance.
Go figure.

 

[downsouth]

hmmm, seems to be an exception there, you are able to close your account down and with all funds left as your retained amount after 6 months since your last transaction, Nochex have responded in this thread so give them another nudge

 

[Paul Kelly ICHYB]

Lucey,

just to clarify, your charges are from 1.24%, but with an additional £27 monthly charge!

Nochex are are a flat % fee, no monthly charge.

To make you better value than Nochex, a business would need to do about £1300-1400 of online transactions a month (I hope my calculations are correct!).

 

[elitemanuals]

Hi

Yes i was promoting our own product and its merits and not reffering to other providers as our solution is rather different. (we just talk about us)

The difference is our service offers the complete payments solution for your business and is not as restrictive as other providers

For example we offer an option for people that dont have a webshop which allows your customers purchase specific items at a specific price similar to a webshop.

We offer Virtual terminal, payment gateway, or even set your own credit terms plus with us you get a client log in area for free.

We take all the major currencies and cards that others dont so you wont have to turn sales down.

To avail of the rate you must be processing a certain amount if and when you are our rate makes the payments cheaper than anyone else - from 1.24%

In the previous post i mentioned our site which details our charges (luceytechnology.com/payments

Any questions please drop us a line 44 20 7193 2890

Sounds good but i do not have a payment module that can work with your website. And im a begginer when it comes to php so i am unable to create my own script to make your gateway work with my website.

i am running OSCOMMERCE which has paypal, 2checkout, authorize. nochex payment modules installed already.

 

[Christiane]

I used Nochex a few years ago. When I closed my account, there was £80 left which they said they would transfer to my bank account after three months. I NEVER saw that money.
Maybe problems arise when you want to leave them...?

 

[TheBrennands]

We use Nochex and have done so for nearly 2 years, and have experienced no problems with them

The Brennands

 

[Tomasd]

I don't trust No-Chex - but from a customer point of view. I paid an on-line company using No-Chex, and then never received the goods. After numerous emails to the company I reported them to Trading Standards and to No-Chex. Had I paid via Paypal I would have had some protection, but No-Chex give the customer no protection whatsoever. They could have returned my money, given that they would not have at that point, paid it over to the internet retailer. Furthermore, despite being notified of the internet retailer breaking Consumer Protection law, No-Chex are still acting as a payment gateway for them.

As both a retailer and a customer, I find Paypal the most cost-effective way of handling payments, the fastest at handing the money over to us, and the system that offers the most protection to both us and our customers.

 

[AndrewF]

Just joined and found this thread.

Some people will be happy to use to use nochex but theres a good reason there bottom of the pile when it comes to payment / merchant providers for anyone thats serious about running a ecommerce business.

Do some research, over on the MSE website theres hundreds of posts about how they have hit people with excessive charges. Kept money and witheld funds for no reason.

It's not just business's accounts either, people with personal accounts that are looking for an alternative to paypal etc have not used there nochex accounts for a while and have come back to find there accounts disabled and/or up to and over £40 in charges taken from there accounts for not using theres account often enough.

Nochex's answer is, read the T&C's, but who really reads them enough to see these small prints!!

For all them people on here saying that nochex have had no problems in 2-3 yrs etc then thats fine. lots of people had no problems for a long time before having problems with them.

I opened my account 4 months ago, I was taking money slowly through them when suddenly I tried to withdraw some funds but I was met with a message saying this facility had been withdraw and I needed to contact customer services.

I did this and was passed from pillar to post for days, with this in mind I removed nochex as a payment option from my websites leaving a balance of over £400 in the nochex account.

For the next 2 weeks emails went backwards and forwards to nochex and eventually I got an email saying my account had been closed. No explanation as to why, no reason and no more info. I was told someone would be in touch to tell me how to get the account balance back but after another 2 weeks and no contact I had to contact them again.

Eventually they sent me a reply with a very short messages saying any funds in the aco**** will be held for 6 months before I can have them and if I wanted any further information then the address can be found in the footer at the bottom of the email.

Very short, very unprofessional support.

These are the reasons nochex are slacking behind the competition when it comes to payment processors.

hth
Andy

 

[quikshop]

Many thanks

The Nochex Team

I wonder what ever happened to 'The Nochex Team' :|

Having dealt with Nochex (or at least tried to) as both a customer and an Ecommerce service provider I can honestly say they were the most unprofessional lot of all the PSPs I've come across.

Avoid unless you have exhausted all other options.