16 thoughts on “Nochex Review. The Paypal Alternative. Or is it?

  1. Peter

    Thank you for your review. I am sorry you feel you had a bad experience when you applied for a Nochex Merchant Account. Can you send me the email address you used to apply for your account with Nochex so I can investigate this further? Kind regards, Peter

  2. Editor Post author

    I didn’t “feel” I had a bad experience, I did have a bad experience. It is a fact that if I say to you that I will turnover £5k a month through the merchant account, you will retain the first £5k of my money as security forever. Paying no interest.

    Yet, with a seller account, there is no such funds retention and I can do £4k a month with no such restriction.

    My “merchant” account was open two days when you refused to revert it to seller. All you could offer was closure. Then, because it was a “merchant account” (for two days) I had to wait six months to get my money back? Having never ever had a single chargeback in years?

    Your only competitor in this field is Paypal. And everyone knows their customer service sucks and they are corrupt and steal peoples money.

    The Nochex seller account is simple, reliable, works with other applications, charges are not too bad, money is in the account nice and fast, etc. I love it. But, I cannot take £101 in a transaction? I can’t take a payment from a non-UK card? I can’t have multiple payment email addresses on the account? No Dollar transactions? I can’t even send money to another Nochex user! Why on earth not?

    All the above is true; and whilst I appreciate your kind offer of looking into this old problem, we dealt with it by making another account and reverting ourselves back to seller status. If the policies outlined above are still the same, engaging personally would not allow me to move forward with Nochex. I turn many thousands of pounds over through Paypal; I detest Paypal, their corrupt chargeback policies and periodic account freezing. I would dearly love to transact that money through Nochex instead. But, alas, while the policies outlined above are still in effect, I am unable to.

    As I said, I like Nochex. But it is clear you have never consulted with any internet sellers to see what they need from a payment processor. An established internet seller could tell you what needs to be done to corner much more of this market. I could show you shopping cart screenshots of failed payments and abandoned shopping carts and tell you exactly why they failed. I have talked customers through the interface and heard their frustration as their payment declined for a third time. Nochex could be so much more if they would only engage with their customers and respond to market needs.

  3. Peter

    Hello Editor and thanks for the reply. I am new here and I am certainly up for remaking our products to be a better fit for our customers, so I welcome your comments about the relative demerits of the Seller account.

    More immediately, I like to think we can provide you with what you want, but it is difficult without being more specific. Can you drop me a line at [noted] so we can discuss?

    Thanks, Peter

  4. Ouch

    Sounds more like they need your details to shut your 2nd accnt like paypal do…

  5. overworked

    Please dont be fooled by Nochex
    read the terrible reviews,
    you will be sold on a lie. They will tell you they are cheaper than paypal, they are not, if you are turning over 5k or more for sure, we are doing between 7 and 10k monthly andf t this rate paypal are much cheaper.
    Alsl you will get an email from nochex tobegin tading. DONT….. they wil hold your money and you will not be abe to withdraw. W are in the process odf taking legal proceedings for mis selling.

  6. overworked

    crap company, mis selling sell their prduct and say cheaper than paypal, IF YOU ARE DOING ANY REAL BUSINESS THEY ARE MORE EXPENSVE BY FAR….Im not much for paypal but nochex do lie from the beginning. We know of 3 comnpanies just locally, currently working with the FO regarding Nochex and their policies.

  7. ouch

    Be very careful with these guys, they will sell you on fasle inforation regarding rates, then hold your funds. Their ticked system is awful and customer service a joke.

  8. Peter

    Dear ouch and overworked, if you are honest and straightforward then you will never have an issue with Nochex.

    Hope this helps,
    – Peter (I work for Nochex)

  9. Editor Post author

    Dear ouch and overworked, if you are honest and straightforward then you will never have an issue with Nochex.
    Hope this helps,
    – Peter (I work for Nochex)

    Hello again Peter.

    I am still a happy Nochex user, but am still hampered by the silly restrictions Nochex impose between the ‘Seller’ and ‘Merchant’ account. Hence we still only use ‘Seller’ and 80% of our business goes to Paypal.

    Last year we had a salesman contact us from Nochex. He wanted us to dump Paypal and use Nochex exclusively. I was genuinely open to that and asked him many questions and gave him a few conditions and policies to match.

    I linked him here too, and in moments he told me the email address of my failed Merchant account too – so I know you guys know who is who here.

    He went away promising to come back with answers and further dialogue but never did.

    Since then, Paypal now remit to the bank in two hours – not days like Nochex. You used to have the edge on that but now you don’t.

    Paypal are known to randomly freeze accounts. Not with us – after over a decade with them we have a VIP phone number in Ireland in case of issues. No such support exists for Nochex ‘Seller account’ clients.

    Since then, Paypal fee-matched [or maybe beat – I should check] Nochex (for us anyway – probably for others too).

    I have always said, Nochex could be so much more. But I think you guys need to really brainstorm with a few big internet sellers who actually know how this stuff works from our side of the fence.

    If I were the MD of Nochex, Paypal would be history in the UK by now. As they are in Germany (Google Sofort).

    You need to get maybe a half dozen big internet sellers up to your offices (Leeds?) and actually listen to what they have to say to you. Then make some changes based upon that feedback.

    Hint: You want the guys doing around £50k a year with you on ‘Seller accounts’ who also run other providers on their shopping carts.

    I have been selling on the net since 98. Our e-turnover is a healthy six figures. Nochex gets exactly £52k of that per annum – because that’s the maximum on our account type.

    I would be happy to be one of the consultants that helped orchestrate a change in Nochex for the better. I’ll give you a full day of my time, but I want a consultancy fee, and an overnight hotel in Leeds to do it. I suggest you do the same for a few others the same day. Let’s pull the ideas together.

    I know your email already from the backside here. Reply if you are interested in doing something like that and I will contact you directly.

    For others: Please continue to note here your experiences of Nochex.

  10. Johhny

    crap, stay away, nochex closes accounts and holds fund for 6 months

    I was with nochex as a sole trader operating our website online shop.
    We grew and went to ltd company status. We were going to leave but were persuaded by nochex to stay as it would be a simple changeover no problem.
    We did. After 4 days we noticed we couldnt withdraw and then the trouble started.
    They actively try to deceive and then closed our account for no reason with over 1000 pound in the account. We couldn`t withdraw and couldn`t refund the customers.
    They said they would release our funds in 60 days.
    They then emailed and said 180 days? 6 months???. Scammers.
    I have started a small claims against them and would urge anyone to do the same. Just google them you will see what they are up to with many companies.
    14 day returns policy we have and also we manufacture to order.
    Although we have honored the orders.
    They are a poor excuse of a company.
    You need to take action and report as many complaints as possible so the powers can be can finally see what they are up to.
    FOS are useless here although may write a statement after looking at your issue that you could use in court.
    Although there are not good here as nochex are under their radar and not governed.

  11. Johhny

    Peter, your full of it mate, full of it. Nothing at all changed for us we just went from sole trader to ltd. and you guys still did it to us. your completely unethical and blindly defend nochex.
    You havent a clue how many are queing to take action here pal.
    I personally had a meeting with hm revenue, trading standards and FOS all who agree your terms and practice are shocking.
    hence the action we are taking

  12. Editor Post author

    Actually, I have made some progress with Nochex. We are about to expand our eshop considerably and I wanted non Paypal branded international card acceptance capabilities. Paypal pro was the obvious choice, but I dont like all my eggs in one basket and Nochex are a UK outfit (gotta support UK business).

    I contacted Peter, who put me onto another chap, I outlined previous issues and eventually they offered me a merchant account on agreeable terms. They have stepped up to the plate for me. Its early days, but the new merchant account seems to be going well.

    Johnny, why did they freeze your account simply for going Limited? We are going to be looking at exactly that quite soon and a heads up would be useful.

  13. Andrew

    Hey guys,
    was just about to sign up with nochex and also had a chat with Peter on the online chat on their website but I thought I will just google them before going ahead and came up with this..

    Just out of curiosity is there more reliable providers with no monthly fee who would accept the cards from all european countries ?

  14. Editor Post author

    There are other options, but many of them are too expensive to use and/or onerous in other ways. I don’t think a perfect provider exists. Its simply a question of finding one that gels with your way of doing business and what you need from such a service.

    This week, as mentioned above, we are switching Nochex on to a large world facing e-shop alongside Paypal. After a few little niggles getting the new merchant account set up, all seems to be OK now.

    Despite my past criticism of my previous Nochex Merchant account experience, it seems a little publicity has helped them smell the coffee and be open to reworking their model a bit. I am happy with what they have done for us recently.

    I am not terribly convinced by these folks here who speak of account freezing and then don’t elaborate when asked questions. We don’t know what they sell, or if they did something iffy or had loads of chargebacks or what.

    Revisiting the whole Nochex subject today Andrew, I would suggest giving them a shot. As long as you play fair with them, and can accept their limitations (like no dollar/euro transactions) and little quirks, they will probably be OK.

  15. Helen

    Nochex is a dreadful company. They took over £70 out of my account in August for goods that I have not received. I have asked for a refund and, to date, receive nothing than various lame excuses.
    The customer service is appalling and I am out of pocket.
    I have always previously used paypal who offer excellent customer protection. My experience of dealing with this company is so bad that I seriously considering taking the matter to trading standards and consumer associations.

  16. Editor Post author

    Nochex do not sell goods. They are a payment provider for those who do. I believe they also do not allow charge backs, which is great for those sellers who are used to being stiffed by item not received fraud.

    With Nochex, you are buying e-money, you are not buying goods. The e-money is then used to pay the seller. Similarly, if you bought Euros at the Post Office, you wouldn’t try to blame them if you later bought something with them that was crap.

    During checkout with Nochex, you have to tick a box to say you have read and understood this.

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