Something like a cheque/bank draft

Help
1

Hi fellow Monzoers (is this a word, apparently “to Monzo” is now a verb !)

I want to offer an entity a settlement in full and final settlement of money claimed to be owed. It may or may not be accurate, it’s hard to say.

Anyhow a big tempter when doing this is to include a cheque ; if this is cashed and it is clearly stated that’s it’s F&FS then that’s it, and the money physically being there is an acceptance of that.

I presume Monzo don’t do cheques, is there any way of doing this, or by using another form of transfer that the receiver has to actively accept or return ?

2

Well in the real world, you send full and final. You wait for the company to respond, in writing, they either accept or reject the settlement.

They also then provide a means of payment, usually bank details with a reference, and a specified timeframe for you to make said payment if accepted.

Sending cash in advance doesn’t solve anything, if it’s a debt, they could cash it and say well you owe us this anyway, thanks, now pay the rest.

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3

Not sure that’s actually right, if it is part of a “in full and final settlement” and it’s clear that’s what it is, then they can of course try but I’d suggest that means they’ve accepted it.

Thanks for replying though ; I appreciated it and it’s food for thought.

4

Morally; they wouldn’t, but it’s possible if it’s an outstanding debt (not confused with an up to date credit balance).

5

That they accept the money doesn’t mean that they accept the conditions attached to it. They would be perfectly entitled to accept it as a part payment for what they claim to be owed.

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