Menu
Expat.com
Search
Magazine
Search

Managers cheques

agskidmo

Pulling my hair out :( how do buyers pay for property in bahrain by "managers cheque" if you are not yet a resident with a bank account in bahrain 1f600.svg1f600.svg1f600.svg1f600.svg1f600.svg


Its a bit chicken and egg!!


No bank or anyone outside bahrain has ever heard of a "managers cheque", only local banks can raise one but you cant open a local account without a cpr,  how can you buy your property 🤔 as a non resident?


Chicken and egg scenario!


Thabnks for any help!

See also
XTang

Well, first of all, manager's cheque is a common phenomenon worldwide so your assumption here is wrong.  I have used it in many countries.  It is referred to as certified cheque / Banker's cheque / Pay order etc in other jurisdictions.


Having said that, there are few options:


1) Get an instrument issued (whatever it's called in your country), which is payable in BHD (your bank will associate with a local bank to ensure that payment)

2) Get a lawyer or an escrow mechanism in which, you pay the escrow provider and they pay the seller once the deal is done

3) Buy ready property directly from a reputed developer and then they will transfer the title deed to you

Bank accounts for expats
Discover the best international banks to manage your money securely.
HSBCLearn more
Transferwise BankingLearn more
hakkab

Hello everyone. As far as I am concerned, it was the real estate agency that wrote the cheque. I had to pay them the deposit, then after the security check I transferred the rest, they then wrote the cheque for the transaction. So you have to be sure of your agency

Make your relocation easier with the Bahrain expat guide

Forum topics on banking in Bahrain

Bank code not working for SIO Website - indemnity
Employee departed Bahrain without closing their bank account
Opening a business bank account
Personal loan in bahrain
How can take legal action against who borrowed money and cheated me?
Investment options for Expats in the GCC
Emergency Loan Facilities
Bank loans in Bahrain
Bahraini Bank Accounts on Leaving Country
How much indian rupees can I take from Bahrain to India?
Bahrain credit report
Discussion & tips on savings & investment options for expats
Exit possible with credit card outstanding
Bank account without CPR/residency
Loan Transfer
Bringing money into Bahrain
Paid in SAR living in Bahrain - best bank option?
currency to be used in Bahrain
Other discussions about banks and finance in Bahrain

Essential services for your expat journey

Choose the best health insurance
Protect your health and get easy access to treatment for expats in Bahrain.
Plan your international move
Facilitate your move to Bahrain by getting a quote from our top rated movers.
Open a bank account that suits you
Discover the best international banks to manage your money securely.
Send money overseas at the best rate
For fast, safe and secure money transfers to and from Bahrain.