A manager cheque is a cashless payment method that allows you to make a payment from your account to another account by presenting a cheque.
Paying by cheque is the most common form of payment in the UAE, as well as in the UK and the USA. The algorithm for issuing a cheque is quite simple:
1. The customer of the bank must deposit the required amount in the account.
The bank confirms that the amount has been deposited and then blocks the amount in the account. The bank then writes a cheque to the specified recipient.
3. The beneficiary contacts his bank and presents the cheque. The bank then credits the beneficiary’s account with the amount shown on the cheque
The main difference between a manager cheque and a normal cheque is security. A normal cheque can be written by the holder of the cheque book without balance confirmation and acceptance by the manager. And the name manager cheque comes from the fact that this cheque is certified by the branch manager or bank manager. The cheque must be stamped and signed by the person who issued it. In addition, the specified amount on the account is frozen.
Manager cheque are often used when buying property, cars, paying for tangible valuables and other goods. The convenience and security of this form of payment is that you do not need to take a large amount of cash with you and walk down the street with it. It is enough to write a cheque for a particular transaction and hand it over at the time of the transaction. It is convenient for both parties.
The following are worth mentioning: The bank guarantees the availability of funds in the account; No need to wait for funds to arrive as with a regular SWIFT payment. You only need to present the cheque to the bank to receive cash; there is no need to explain the origin of the funds. The bank has already verified the cheque when it is issued; cheque fraud is a criminal offence punishable by up to 15 years in prison. A cheque is made out to a specific recipient and can only be collected by that person; the specified amount on the cheque is blocked and can only be unblocked by returning the cheque to the bank. This ensures that it is not possible to cancel the payment once the cheque has been presented; the loss of a cheque raises a number of issues that need to be resolved with the bank. You cannot simply say that the cheque has been lost and ask for the payment to be cancelled.
The property buyer goes to the bank and pays the money into their account. The buyer then completes all the necessary documents at the bank and, if the account is in sufficient funds, the bank issues a manager cheque. This cheque is issued in the name of the seller of the flats. When a real estate transaction takes place, the registrar takes the documents from the seller and the manager cheque from the buyer. When the transaction is complete, the buyer receives a new title deed and the seller receives a cheque in his name. All the seller has to do is take the cheque to his bank and deposit it in his account.
To issue a cheque, you must have a bank account in the UAE and a sum of money in it. If you already have one, all you need to do is go to the bank, give the recipient details of the cheque and wait for it to be issued (the bank will block the required amount in the account and you will receive a physical cheque). A resident visa is required to open the account itself. Previously it was possible to open an account without a residence visa, but at the moment we have not come across any banks with a similar policy.
Yes, we do. We work with many clients and this service is one of the main services we provide. This method of payment is very popular when buying property in the UAE, cars, yachts and other tangible valuables. We obtain the payee’s details and the required amount from the client and prepare a cheque. We then hand the cheque to the client or deliver it to the recipient (for example, if the client is not in the UAE). We then provide the customer with a documentation receipt for the cheque.
We offer the service of issuing manager cheques in the required amount in exchange for cash, non-cash, cryptocurrencies (Tether USDT ( ERC20, TRC20) and other cryptocurrencies) and electronic funds. To receive it, please contact us in any way that is convenient for you. Below you will find a detailed algorithm of receiving manager cheques and frequently asked questions from our clients regarding this service.
How to get a manager cheque
Use any convenient way to contact us. Telegram, JivoChat. You can also leave a request.
inсlude the following details
– Cheque amount
– Recipient details
– The invoice for which the cheque is being issued (if available)
– Your preferred payment method (cash, non-cash, cryptocurrency)
Based on our workload, bank operations and other factors, we will suggest a date for the cheque to be issued. This is usually between 1-3 days. Depending on the amount, recipient and purpose of the cheque, the cost of our services and exchange rates will be agreed.
A 5% prepayment of the cheque amount is taken as a guarantee to cover costs. Often our customers pay 100% immediately, but we do not require this. The 5% payment gives us a guarantee that you will collect the cheque when it is issued. When the cheque is ready, we send a photo and you make the final payment for the balance.
We can deliver the manager cheque to your address, hand it over to the recipient or directly to you. It all depends on the specific task and your circumstances. If we deliver a cheque to the recipient, we often receive a documentary evidence to prove that the cheque has been delivered. We will then send you a photo of the document as proof of service.
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