I am married with two children and live in the heart of England.
I am interested in the Internet, D...
I am married with two children and live in the heart of England.
I am interested in the Internet, DVDs, Music and Cars. I am studying for my Masters degree within the Criminal Justice Sphere.
Member since:26.07.2000
Reviews:59
Members who trust:6
Nochex is an Internet based facility which enables UK surfers to buy and sell goods using an entirely electronic medium of exchange. It is aimed at those who buy and sell via the Internet Classifieds and On-Line auction houses such as QXL, E-Bay and Yahoo. It works for both buyers and sellers and allows cost free, instantaneous payments to be made between those that hold both an e-mail address and a ‘Switch’ or ‘Delta’ style UK debit card.
This is how it works. You open an account with Nochex by providing them with your usual details together with the details of your debit card. Your E-mail address becomes the equivalent of your account number. These details are then verified by Nochex making a small, random payment of between 1p and 99p into your bank account. You simply find out what that amount was from your bank and inform Nochex to confirm to them you have legitimate access to the account. Hey, you’re already up by as much as 99p as this money stays in your account! This process takes about two days so be aware of the potential time lag involved if you are opening an account to complete an urgent transaction. From the Nochex website you can upload money into your account. This will take the form of a Switch/Delta payment from your bank account. Withdrawals from your Nochex balance arrive in your bank account as a Switch/Delta refund. These payments take about two working days to appear either way. Each time you conduct a transaction between Nochex and your bank account you pay Nochex a fee of 99p. Transactions between Nochex members, however, is free. If you want to send money from your Nochex account to another member, say as a result of winning an auction or something, you simply type in their e-mail address together with the amount you want to transfer. The transaction is immediate and costs neither party anything. The trick is, therefore, to reduce the number of transactions involving your bank, perhaps keeping a small float in your Nochex account.
Don’t be put off by the .com address. The Nochex enterprise is entirely British based and at the moment it is only available to those with a British bank account. Despite the ‘low-tech’ appearance the website is fast, reliable and easy to use. The secure link is quick and it never requires much navigation to get what you want from your visit. You can access a statement of all your Nochex transactions and see the details associated with each. Not only does it retain the other party’s e-mail address but it also includes date and time details and any notes you may have transmitted with the original transaction.
I do a great deal of business on various auction sites and I can thoroughly recommend Nochex. I have completed in excess of 100 Nochex transactions and have transferred excess funds to my bank on three occasions without a problem. For auction-based sellers the occasional 99p charge is offset by the benefits of having an auction winner confirmed immediately. The money is often in your Nochex account within twenty four hours of closure. No more stories of cheques being lost in the post and waiting days on end before re-posting your item for sale. For buyers the advantages are similar. You save the time and trouble of writing a cheque, you save the cost of a postage stamp and envelope and you get your goods that much quicker as the seller can authorise dispatch as soon as they receive payment. I have not yet heard of any complaints concerning Nochex and a great many people are starting to look into this service. If you participate in any sort of private sale on the Internet you should have a look at Nochex to.
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".com" originally stood for "commerce" but was rather jumped on by (a) the U.S. and (b) the media. I think this is one of the main reasons that ".biz" is now allowed (will soon be allowed?) as a domain suffix. Anyway, good opinion there - TT.
LostWitness 10.12.2001 12:34
This sounds like a pretty good idea. I used to trade regularly on eBay, but haven't really visited the site lately. I'll definitely have a look at Nochex though - thanks for the review! :O)
Advantages: easy to use, fast payment direct to debit card, ideal for UK auctions Disadvantages: only for use to UK members, users must have Debit card
flashpointz 11.10.2001 ·
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Ciao members have rated this review on average: very helpful
Review of nochex.com
Advantages: Slightly less transaction fees Disadvantages: If you have any proble, they will never resolve it and you'll end up giving up and losing money
biznesman 12.05.2009 (13.05.2009)
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Ciao members have rated this review on average: somewhat helpful
Review of nochex.com
Dec 10th, 2001
very helpful by (100%):
