What is a Manager Cheque? how to issue it?
and what are the rules for using Cheques in Dubai
Manager Cheque – is a non-cash payment method, thanks to which you can make a payment from one account to another by presenting a Cheque.
Payments by cheque are very popular in the USA, England, and also in the UAE. The procedure is quite simple.
1. To draw up a cheque, the bank’s client needs to deposit the required amount on his account.
2. Bank will confirm the deposit operation, freeze the amount on the client’s account and issue a cheque to the specific recipient.
3. The recipient of the cheque contacts his bank, provides the cheque, and the bank will credit the specified amount to his account.
A manager’s cheque is a cheque certified by the manager or the head of a particular bank branch. The cheque bears the seal and signature of the person who issued it. In this case, the amount on the account is frozen. You cannot issue a manager cheque without the actual availability of funds. A regular cheque can be issued by the owner of the chequebook without confirming the balance and the manager’s acceptance.
Often the Manager Cheques are used when buying and renting real estate, cars, payments for material values, and other goods and services. In fact, it is a substitute for cash. You don’t have to worry about keeping a significant amount of cash when paying for something. It is enough to issue a cheque for a specific operation and hand it over at the time of the transaction.
The following should be mentioned:
– Payment by cheque guarantees 100% availability of funds in the account
– No need to wait for the receipt of funds, as with a regular SWIFT payment. You just need to hand the cheque over to the bank.
– No need to prove the origin of the funds. They were already checked by the bank upon the cheque issuance.
– Cheque forgery is a serious crime, which can lead to 15 years of imprisonment. This allows you not to worry about the legitimacy of the document.
– The cheque is issued to a specific recipient (e.g. Developer) and can only be received by him.
– After freezing the amount on the account and issuing a cheque, you can unfreeze the amount on the account only by returning the cheque to the bank. This ensures that you will not be able to revoke the payment after the cheque has been sent.
– Loss of a cheque entails a whole range of issues that will need to be settled with the bank. You can’t just say that the cheque is lost and ask to cancel the payment.
There are two scenarios worth highlighting.
Buying a primary home and a deal on the secondary real estate market.
Primary housing involves buying from a developer. In this case, a cheque is issued in the name of the company. This can be the whole amount, or a partial payment according to the payment schedule. The cheque is handed over to the developer, who accepts documentary receipt of it and issues a supporting document.
The deal with the secondary housing goes through the state registrar, who receives the documents for the property from the seller and a cheque from the buyer. Upon registration of the transaction, the buyer obtains a Title deed (document for the apartment) from the registrar, while the seller receives the manager cheque. The seller only needs to contact the bank and receive funds on his account.
To issue a cheque, you need to have a bank account in the UAE and the amount of money on it. To open the account itself, you need a resident visa. Before, you could open a bank account without a resident visa, but now the policy has changed.
If you already have an account, you just need to contact the bank, provide the details of the recipient of the cheque and wait for its issuance.
The bank will freeze the required amount on your account, and you will receive a cheque.
Yes. This service is one of the main services of our company. We work with many clients in this direction.
Most frequent requests are the following:
– pay for real estate in the UAE by means of a manager cheque
– purchase of yachts, boats, cars
– payment for other things and services
The client provides us with the data of the recipient of funds, the required amount and we issue a manager cheque for him. Next, we transfer the cheque to the client, or deliver it to the recipient, if, for example, the client himself is outside the UAE. We receive documentary confirmation of receipt of the cheque and transfer it to the customer.
We can offer you the service of issuing a manager cheque for the required amount and details. To do this, you need to contact us and request to issue a manager cheque. We accept cash, non-cash, cryptocurrencies (Bitcoin, Ethereum, Tether USDT (ERC20, TRC20, Omni), and other cryptocurrencies), as well as e-money in exchange for manager cheques.
Below is a step-by-step algorithm and popular questions from our clients with regard to this matter.
Use any convenient way to contact us. Telegram, WhatsApp, Viber, or phone. You can also submit a request through the form
– Cheque amount
– Recipient bank details
– The invoice (account) for which the cheque is issued (if any)
– Preferred payment method (cash, non-cash, cryptocurrencies)
Based on our workload, the work of the bank, and other factors, we will suggest the date of issue of the cheque. It usually takes 1-3 days. Also, depending on the amount, recipient, and purpose of the cheque, the cost of our services and exchange rates will be agreed.
We charge a prepayment of 5% of the cheque amount as a guarantee to cover the costs. Often our clients deposit 100% right away, but we do not require this. A 5% payment gives us a guarantee that you will pick up the cheque when issued. When the cheque is ready, we send a photo and you make the final payment for the remaining amount.
We can deliver the manager cheque to your address, transfer it to the recipient, or directly to you. It all depends on the specific task and circumstances on your side. If we deliver a cheque to the recipient, normally we receive documentary evidence that the cheque has been delivered. Then we send you a photo of the document to confirm the fulfillment of obligations.
Your feedback on the provided services is very important to us. Please do not forget to leave feedback. It helps us improve the services.
Also, we have one of the best USD to AED rates compared to other services and banks (3.67 AED for 1 USDT/USDC, etc.)
Who is the issuer of the manager cheques?
We issue manager cheques on behalf of our companies. All funds undergo AML verification at the bank, their availability is confirmed, and after that, a cheque is issued based on the details provided.
Are there limits on the cheque issuance?
Basically, there are no limits, but we recommend splitting large payments. We usually make cheques up to AED 10,000,000. If you pay for the purchase of primary property, then often the developer gives a payment schedule for the purchase. We recommend splitting payments into parts. As for the minimum payment, it is 50,000 AED by manager cheque.
What are the guarantees that everything will be done correctly on your end?
This is a common question. We offer the following guarantees:
1. An order for the cheque issuance can be submitted on the Bitok.Ai website.
This is an exchange service that also belongs to us. All data in the order will be entered into the system and you will receive a confirmation of the operation itself.
2. Bitok.Ai is an authorized member of many monitoring systems, including Bestchange.com, Bits.Media, Kurs.Ekspet. The very fact that a service is available on these resources speaks of its solvency, money and time investments. You can also read the reviews about the work of our services. In the event of any claims, it is enough to open a public case on Bestchange and we will be obliged to solve it, with the risk of losing the autorization.
3. You pay only 5% when ordering a manager cheque. The remaining 95% can be paid after the cheque has been displayed to you.
4. Cheque forgery or some kind of manipulation of this tool is an extremely serious crime in the UAE. So, it does not make any sense to try to cheat somehow.
5. Read more about us at devb.eu
How long does it take to issue a manager cheque?
An order for the issue of a manager cheque can be submitted on workdays. Sunday to Thursday, 10-15 hours. The time to issue a cheque depends on the load. Sometimes we receive a significant number of applications and are forced to declare the issuance of the next cheque within 2-3 business days. Sometimes this period can be prolonged. You will be warned of any changes in advance.
I am not in the UAE. Can you deliver my cheque to the recipient?
Yes, this is a common option that customers ask us about. We will deliver your cheque and send confirmation of its receipt from your counterparty.
Is it legal, how can I be sure I won’t get into any trouble?
The UAE is generally loyal to the purchase of assets in the country by expats and foreign investors. All funds passing through our companies go through the AML procedure and are chequeed by the bank. The acceptance of the cheque by the bank is a confirmation of the legitimacy of the funds. You will get a completely legal asset.
Can I issue a manager cheque in my name and deposit it to my bank account?
Yes, we can issue a manager cheque in your name and you will credit it to your UAE bank account.
Can I deposit my bank account with cash and issue a manager cheque?
Sure you can. However, it should be borne in mind that the bank will require the origin of the founds. This can be a salary report, investment income, the sale of some property, etc. It is important for the bank to understand that the funds have a legitimate origin and you received them in this way. We often faced cases when banks suspended clients’ accounts for operations with cash deposits, since the client could not prove the origin of the funds. Make sure you take this into account when you do any account operations.
The developer gave me a payment schedule for the property. First I need to make a prepayment and then make payments regularly. Can I do it using your services?
Of course. We can schedule payments according to your schedule and plan them in advance.
Does the developer bother about the fact that payment for my purchases comes from a third-party company?
No. The UAE has a rather soft policy in terms of internal settlements in local currency. The fact is that in the Emirates there are no taxes for individuals and most legal entities, except for VAT. If the funds have passed the internal AML and a cheque is issued, then there are no claims at all. For the entire time of purchases of real estate and other tangible assets, we have not come across questions regarding payments processed through third parties.
I am interested in investing in real estate. Can I make such purchases through you in order to transfer assets to the trust of the developer?
Yes. We often make such payments to Emaar, Seven Tides, and Nakheel. We also have partnerships with real estate agencies that will select liquid and profitable real estate for you.
How can I pay you for the manager cheque issuance?
You can pay in different ways: by cash, SWIFT payments to our company in the EU, and Seychelles. Also, the main option is payments through cryptocurrencies. We accept Bitcoin, Ethereum, USDT (ERC20, TRC20, Omni), Ripple, Monero, and many other coins. Moreover, you can pay through payment systems like Capitalist, Skrill, PerfectMoney, AdvCash
Which payment method is the most convenient and cost-efficient?
Our fee depends on a number of factors like the market price of certain assets, including digital ones. From our experience, the most convenient, fastest, and most cost-efficient payment is through cryptocurrencies. It is best to use stablecoins USDT, TUSD, USDC, etc.
Do you conclude an exchange agreement?
Yes, we can sign an agreement for the exchange of digital assets, if required.
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