If you’re paying for real estate in Dubai or Abu Dhabi for the first time using a check manager, it’s important to understand that even a small error can lead to transfer delays or unpleasant surprises. Below, we’ll discuss the five most common mistakes beginners make so you can avoid them and complete the transaction safely.
1. Trusting the first person you meet
Mistake: Many newbies believe that any check manager is equally reliable and are ready to entrust a large sum to the first person.
In practice, it’s important to check a manager’s reputation. Even minor dishonesty can lead to delays or loss of funds.
Tip: Look for recommendations, real customer reviews, and confirmation of the manager’s license or registration. If possible, start with a short test translation to ensure their reliability.
2. Incorrect check execution
Error: Incorrect data entry, amount, date, or recipient name.
Even a small typo can invalidate a check, especially for large amounts. In the Emirates, banks and payment platforms meticulously check every detail, and a single incorrect character can delay payment for several days.
Advice: carefully check all fields, and if necessary, verify with the manager and the recipient’s documents.
3. Ignoring commissions and exchange rates
Mistake: Newbies often think that the amount on the check will match the amount that the recipient will receive.
Intermediary fees, hidden charges, or exchange rate fluctuations can significantly affect the final transfer amount.
Tip: Check fees and fix the exchange rate in advance to understand exactly how much the developer will receive.
4. Lack of confirmation of transfer
Mistake: Trusting the manager’s verbal promises and not asking for official confirmation of the transfer.
A check is a legal document, and it’s important to have proof of transfer. Without confirmation, you risk losing your money in the event of a dispute or error.
Tip: Always obtain a receipt, email confirmation, or scanned document signed by the manager. This will protect you in any dispute.
5. Insufficient control over payment status
Mistake: Many people think that once the check is handed over, the process is complete.
In practice, it’s important to monitor whether the funds have reached the recipient and been credited correctly. Ignoring these controls can lead to delays or problems that are difficult to resolve later.
Tip: Check with your manager about each transfer step and always verify that the funds have successfully reached the developer or recipient.
Result
Using a check manager is a convenient and secure way to pay for real estate in the Emirates, but it requires careful consideration. Checking the manager’s reputation, properly formatting the check, accounting for fees and exchange rates, ensuring confirmation, and monitoring the transfer will help you avoid problems and protect your money.
