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Jamie-Law
Jamie-Law, Solicitor
Category: Law
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Experience:  Solicitor
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Is it normal to pay money into an escrow account to release

Resolved Question:

Is it normal to pay money into an escrow account to release funds held there back to me?
Submitted: 1 year ago.
Category: Law
Expert:  Jamie-Law replied 1 year ago.

Hello my name is ***** ***** I will help you.

Could you please explain your situation a little more?

Customer: replied 1 year ago.
I have a forex trading account with a company called WP-Global.com, they use an escrow account to keep clients money safe and use a percentage each week to trade with, I've had the account since May, transferring money into the account as and when I could afford it, I transferred about £ 11000 into the account they traded with it and grew the account to £14982 but now they are going out of business they are asking me to deposit £3750 about 20% in order to release the £ 14982 back to me, my question is, is this normal or am I being taken for a ride How can I get my money back?
Expert:  Jamie-Law replied 1 year ago.

Is it into escrow themselves?

Customer: replied 1 year ago.
They have sent me an account name Nembhard, sort code: 60-06-14 account no. 30137675 with reference Ray, I think that is nat west account so they probably use escrow accounts.
Expert:  Jamie-Law replied 1 year ago.

that is not escrow, it's a normal account. Only use Escrow.com

Do not use anyone else. This sounds like a scam.

Can I clairfy anything for you about this today please?

Customer: replied 1 year ago.
Is there any way I can get my money back?
Expert:  Jamie-Law replied 1 year ago.

You need to write and set out your losses and request a refund within 14 days or say you will go to Court within 14 days. You should make sure you send this signed delivery and keep a copy.
If they do not refund you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 http://s3-eu-west-1.amazonaws.com/hmctsformfinder/n1-eng.pdf and take it to your local County Court.
The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.
If the claim is for £10,000 or less it will be a small claim so you will not need legal representation. Over this value you would need representation for trial.
Can I clarify anything for you about this today please?

Jamie-Law and other Law Specialists are ready to help you