Bank Accepted Teamoney

[Naam]

 

of course i have given tea money. in Thailand only peanuts but in other countries where "tea money, speed-up fees, useful expenses, profit enhancement cost" and you name it are accepted standards and norms and that in amounts which you can't even fathom in your wildest dreams. that's how a certain percentage of business has been done before the pyramids were built and will always be done.
 
but as we all know this    happens and once in a while you get skrued
and you have to grind your teeth. life's a bitch! 

 
My God, what an arrogant, sad old man.  Good for you, you made a lot of money  that  I  can't even FATHOM in MY WILDEST DREAMS  
 
You and Patrick should start you own thread -  "How much money have you and how long have you been in Thailand"

 

there was no mentioning that i made a lot of money by paying profit enhancement cost which benefitted the companies i managed. but basically you are right. simple reason is that during my professional career i always was an employee albeit with the important perk "profit share".

 

sad makes me that i'm not a "university professor with 26 years experience in Thailand" which would make me a young man (early thirties) i presume?

[Gsxrnz]

C.O.D is the only way to go. 

 

Maybe pay an incentive of 10% of the agreed teamoney up front, the balance on delivery of the service in a timely fashion.

 

Thay way, at least you're holding the cards and the "service provider" has some motivation to follow through on the promise - the service may not be delivered or not to your satisfaction, so the most you've lost is 10%.

[Naam]

C.O.D is the only way to go. 

 

Maybe pay an incentive of 10% of the agreed teamoney up front, the balance on delivery of the service in a timely fashion.

 

Thay way, at least you're holding the cards and the "service provider" has some motivation to follow through on the promise - the service may not be delivered or not to your satisfaction, so the most you've lost is 10%.

based on your suggestion the OP should have paid up front 600 (sixhundred) Baht?

[BangkokHank]

 

Lesson learned.

 

Many have lost a lot more when dealing with Thais.

True, although I feel there might be something I could do. It's not so much the 12,000 baht that annoys me but the 50,000 deposit on a great piece of land that's going cheap. 

 

Kinda like speeding and giving the cop 200 baht then he turns round and gives you a ticket. 

 

 

You have tipped this banker off on a great piece of land that's going for cheap.  Do you think he wants to let a farang buy it?  He's going to buy it for himself - using the tea money you (and others) gave him as his deposit.
 

[Naam]

 

 

Lesson learned.

 

Many have lost a lot more when dealing with Thais.

True, although I feel there might be something I could do. It's not so much the 12,000 baht that annoys me but the 50,000 deposit on a great piece of land that's going cheap. 

 

Kinda like speeding and giving the cop 200 baht then he turns round and gives you a ticket. 

 

 

You have tipped this banker off on a great piece of land that's going for cheap.  Do you think he wants to let a farang buy it?  He's going to buy it for himself - using the tea money you (and others) gave him as his deposit.
 

 

a brilliant plan! the banker needs only another 249 loan applicants  

[Gsxrnz]

 

C.O.D is the only way to go. 

 

Maybe pay an incentive of 10% of the agreed teamoney up front, the balance on delivery of the service in a timely fashion.

 

Thay way, at least you're holding the cards and the "service provider" has some motivation to follow through on the promise - the service may not be delivered or not to your satisfaction, so the most you've lost is 10%.

based on your suggestion the OP should have paid up front 600 (sixhundred) Baht?

 

 

Nope - he's already paid 12k so 1,200 equals 10%. 

 

However the OP seems not to have finalised the negotiation to the point whereby he and the service provider actually agreed on the total amount to be paid.  This is evident because he was asked for an additional 6k that he seemed not to be expecting.  His negotiation skills could do with a pencil sharpener.

 

It sounds like he's not going to get what he wanted, so he's gonna be down 12k plus the 50k deposit.

 

Business lesson number one - don't commit to a deposit on anything unless you are 100% sure you can close the deal, unless you're fully prepared to walk away from the deposit paid.

 

Lesson number two - unless there are legally binding and enforcable contracts that cover all eventualities for non delivery of goods or services, don't pay more than a token deposit (10%) as a gesture of goodwill until the goods are in situ or the service has been delivered to your satisfaction.

 

Whilst I acknowledge this thread is not about business and all about teamoney, the same basic rules apply if you don't want to get screwed. 

 

Otherwise, just go and buy a large jar of vaseline. 

Edited August 9, 2014 by Gsxrnz

[WhizBang]

 

you participated willingly in a "tea money" procedure and now you want to complain? 

Yes, if you have no useful reply please go away.

 

I have been working here for 26  years and this tea money is the usual way to get things done.

 

 

There is a saying:  If you are not part of the solution, you are part of the problem.

 

and, It takes TWO to Tango.

 

You, sir, are a part of the problem.

[Naam]

 

 

C.O.D is the only way to go. 
 
Maybe pay an incentive of 10% of the agreed teamoney up front, the balance on delivery of the service in a timely fashion.
 
Thay way, at least you're holding the cards and the "service provider" has some motivation to follow through on the promise - the service may not be delivered or not to your satisfaction, so the most you've lost is 10%.

based on your suggestion the OP should have paid up front 600 (sixhundred) Baht?

 

 
Nope - he's already paid 12k so 1,200 equals 10%. 
 
However the OP seems not to have finalised the negotiation to the point whereby he and the service provider actually agreed on the total amount to be paid.  This is evident because he was asked for an additional 6k that he seemed not to be expecting.  His negotiation skills could do with a pencil sharpener.
 
It sounds like he's not going to get what he wanted, so he's gonna be down 12k plus the 50k deposit.
 
Business lesson number one - don't commit to a deposit on anything unless you are 100% sure you can close the deal, unless you're fully prepared to walk away from the deposit paid.
 
Lesson number two - unless there are legally binding and enforcable contracts that cover all eventualities for non delivery of goods or services, don't pay more than a token deposit (10%) as a gesture of goodwill until the goods are in situ or the service has been delivered to your satisfaction.
 
Whilst I acknowledge this thread is not about business and all about teamoney, the same basic rules apply if you don't want to get screwed. 
 
Otherwise, just go and buy a large jar of vaseline. 

 

 

 

Nope - he's already paid 12k so 1,200 equals 10%.

1,200 Baht is indeed a princely sum which would cover in Pattaya a moderately priced dinner for two and a bottle of wine of rather mediocre quality.

 

next!

[CharlieH]

Post advocating physical violence and some replies quoting same have been removed.

[rgs2001uk]

To answer post # 29.

 

 

 

Oh dear oh dear, anger management problems.

 

I would go back to the same bank and talk to the manager about the underhand practice of this guy, I would also let the manager know I was going to head office in Bkk to report it.

Tell him he can stick the money up his back side you dont care about it.

 

I would also visist about 5 other banks and lodge applications with them.

 

A lowly sales clerk is exactly what he is, some under manager in some sub district bank in nowhere.

 

You need to prioritise your problems, is it,

fear of losing the land,

fear of losing the deposit,

 

these you can do something about as mentioned above.

 

Is it, being ripped off for 12k, already gave advice on what to do.

Is it fear of being made a fool of, you seem to manage that well enough on your own.

 

Are you sure you are actually a college professor?

[KittenKong]

I'm just surprised that anyone would put down any sort of deposit before being certain that they had the funds to complete with.

[Spoonman]

I'm just surprised that anyone would put down any sort of deposit before being certain that they had the funds to complete with.

 

A fool and his money are easily parted.

[Johnniey]

I'm just surprised that anyone would put down any sort of deposit before being certain that they had the funds to complete with.

Its not a deposit.
They call it "ngern dai dto" in these parts and is a common practice, so much so that it is not really considered illegal.
I find it hard to believe so many here have never heard of it or call me a fool for doing it.

[Johnniey]

I'm just surprised that anyone would put down any sort of deposit before being certain that they had the funds to complete with.

 
A fool and his money are easily parted.

So spoon please tell us why you think Im fool. Did you even read what I said?

[konying]

OP, if it's looking like you have been taken for a ride, why do not you play into the tune .

Go see senior manager, play silly farang and find out why you had paid the money but no outcome .

Again play silly as if you do not see any problem paying outside of the bank as " you were told by bank employee" and you have no reason to doubt bank employee or bank rules .

Basically play silly, you may have lost the 50k but you might get your 12k and person involved would be charged.

I do not think going legal or through police would help, only because publicaly bank would never admit to wrong doing, but having it dealt internally may get you results

[KittenKong]

 

I'm just surprised that anyone would put down any sort of deposit before being certain that they had the funds to complete with.

 

Its not a deposit.
 

 

In your first post you wrote: "I'm going to lose my deposit on the land, 50,000 baht".

 

So is it a deposit or isn't it? You tell me.

 

If it is a deposit then I think you were daft to have made it before clearing the funds 100%.

Edited August 9, 2014 by KittenKong

[JeremyBowskill]

What is absolutely clear is OP loves to throw his dollys out his pram and tell people to **** off!!  As ye sow, so shall ye reap comes to mind here.   (BTW this is the point where you tell me to **** off OP)

 

 

You took a punt, it backfired.  Deal with it OP, life's made up of some wins and some loses.

Edited August 10, 2014 by JeremyBowskill

[Neeranam]

 

 

 

you participated willingly in a "tea money" procedure and now you want to complain? 

Yes, if you have no useful reply please go away.

 

I have been working here for 26  years and this tea money is the usual way to get things done.

 

 

Absolute nonsense!

 

And why on earth did you agree to having the transaction conducted "outside the Bank"??!!

 

Patrick

 

Have you ever borrowed money from a bank Patrick?

 

My neighbour paid 20,000 baht to get her mortgage. I paid a very high insurance to get my mortgage. 

 

I know countless people who pay tea money for many things. It is the nor here to pay the bank a little to get more than the house/land is worth, nearly everyone does it.

 

I did this last year in order to get a mortgage. Most Thai people I know do exactly this. Basically the builder told the bank the house cost 200k more than it did. The bank gave me a 90% Mortgage so I then paid for the house and had some spare change after to pay for the many hidden costs of buying a house that I had not envisaged.

OP, I'd go to the bank and ask the guy straight, " what is going on? " Start making a big fuss and let the manager know what happened. Take your "poo yai", whoever that may be.

[Spoonman]

Yes, if you have no useful reply please go away.
 
I have been working here for 26  years and this tea money is the usual way to get things done.

 
Absolute nonsense!
 
And why on earth did you agree to having the transaction conducted "outside the Bank"??!!
 
Patrick

Have you ever borrowed money from a bank Patrick?
 
My neighbour paid 20,000 baht to get her mortgage. I paid a very high insurance to get my mortgage. 
 
I know countless people who pay tea money for many things. It is the nor here to pay the bank a little to get more than the house/land is worth, nearly everyone does it.

I did this last year in order to get a mortgage. Most Thai people I know do exactly this. Basically the builder told the bank the house cost 200k more than it did. The bank gave me a 90% Mortgage so I then paid for the house and had some spare change after to pay for the many hidden costs of buying a house that I had not envisaged.
OP, I'd go to the bank and ask the guy straight, " what is going on? " Start making a big fuss and let the manager know what happened. Take your "poo yai", whoever that may be.

So the bank did not do its own valuation...... I find that hard to believe.

[laolover88]

Bank personnel lie, IN-Bank Staff lie, People lie to the bank
The bank don't care.They usually come out with a profit
Any country.
Learned at an early age from Leslie Charteris, Author of the Saint.
"When it comes to crooked dealing I do not attempt to compete with Banks. The Police and Insurance companies" Edited August 10, 2014 by laolover88

[Spoonman]

I did this last year in order to get a mortgage. Most Thai people I know do exactly this. Basically the builder told the bank the house cost 200k more than it did. The bank gave me a 90% Mortgage so I then paid for the house and had some spare change after to pay for the many hidden costs of buying a house that I had not envisaged.
OP, I'd go to the bank and ask the guy straight, " what is going on? " Start making a big fuss and let the manager know what happened. Take your "poo yai", whoever that may be.

So the bank did not do its own valuation...... I find that hard to believe.

The bank did an evaluation but they were only here for about 2 minutes, taking a few photos. He didn't even want to come inside. The guy who built the house is a vice-president of the bank next door to the one giving the mortgage. Banks, like everything here are corrupt.

My god that sounds like a load of crap but I can only believe you. Did the Builder/Vice president of the bank not have enough funds to loan you hence you borrowed from the bank next door ?

[Chao Lao Beach]

 

 

you participated willingly in a "tea money" procedure and now you want to complain? 

Yes, if you have no useful reply please go away.

 

I have been working here for 26  years and this tea money is the usual way to get things done.

 

 

Absolute nonsense!

 

And why on earth did you agree to having the transaction conducted "outside the Bank"??!!

 

Patrick

 

 

Because that it how it is done in Thailand, it is also how the Thai land offices work.
 

[laolover88]

But in this particular case, if the facts are true (and whenever are they?)
No one in their right minds does business 'outside' the bank. I have acquired plenty of money from UK banks...but alldone at a desk inside the bank!!!.I do not understand how foreigners come to lose their heads when they pass through
Immigration in Swampy
Sure I have made mistakes; but usually because I was in a hurry and did not get the documents translated correctly. In this case how can he get a mortgage from Bualuang?. One of the biggest problems we have had is the "It is not Thai money issue" because even though my wife is Thai, she has businesses in the UK and the money comes from abroad...........and anyway why is he trying to buy property for a woman who does not work??

[Neeranam]

 

 

 

I did this last year in order to get a mortgage. Most Thai people I know do exactly this. Basically the builder told the bank the house cost 200k more than it did. The bank gave me a 90% Mortgage so I then paid for the house and had some spare change after to pay for the many hidden costs of buying a house that I had not envisaged.
OP, I'd go to the bank and ask the guy straight, " what is going on? " Start making a big fuss and let the manager know what happened. Take your "poo yai", whoever that may be.

So the bank did not do its own valuation...... I find that hard to believe.

 

The bank did an evaluation but they were only here for about 2 minutes, taking a few photos. He didn't even want to come inside. The guy who built the house is a vice-president of the bank next door to the one giving the mortgage. Banks, like everything here are corrupt.

 

My god that sounds like a load of crap but I can only believe you. Did the Builder/Vice president of the bank not have enough funds to loan you hence you borrowed from the bank next door ?

 

CMIB don't give foreigners mortgages, so he said.

 

But he was willing to let me pay it off with a personal loan but I wanted a proper bank loan.

[Neeranam]

But in this particular case, if the facts are true (and whenever are they?)
No one in their right minds does business 'outside' the bank. I have acquired plenty of money from UK banks...but alldone at a desk inside the bank!!!.I do not understand how foreigners come to lose their heads when they pass through
Immigration in Swampy
Sure I have made mistakes; but usually because I was in a hurry and did not get the documents translated correctly. In this case how can he get a mortgage from Bualuang?. One of the biggest problems we have had is the "It is not Thai money issue" because even though my wife is Thai, she has businesses in the UK and the money comes from abroad...........and anyway why is he trying to buy property for a woman who does not work??

Uk banks are nothing like Thai banks. 

 

Why don't you  get a loan from a UK bank?

[Chao Lao Beach]

Forget about UK banks.....

 

I am not going to argue, just bribes are needed for loans to happen in a timely manor.

 

Also the same when you want to chop up land in a timely manor.

 

Also when you are out of province and do not with to return to pa the traffic ticket, easier to settle on the spot, again, non of this would happen in the UK.

 

I am 99.99% sure that Bangkok Bank Head Office knows this goes on as  a normal common daily practice within their organization in Thailand, (not their US and UK branches) This may come down to if the OP has any "friends" to go with him.  (Higher than a local cop). 

 

I believe that going to the Head Office, may possibly open a can of worms that will result in the OP being sued, possibly even funded by the bank claiming you are accusing their staff of being corrupt......  They don't need to win, just drag you out for many years.

 

See what your wife can do locally is my advice.

Edited August 10, 2014 by Chao Lao Beach

[Spoonman]

So the bank did not do its own valuation...... I find that hard to believe.

The bank did an evaluation but they were only here for about 2 minutes, taking a few photos. He didn't even want to come inside. The guy who built the house is a vice-president of the bank next door to the one giving the mortgage. Banks, like everything here are corrupt.

My god that sounds like a load of crap but I can only believe you. Did the Builder/Vice president of the bank not have enough funds to loan you hence you borrowed from the bank next door ?

CMIB don't give foreigners mortgages, so he said.
 
But he was willing to let me pay it off with a personal loan but I wanted a proper bank loan.

Ahh ok fair enough. yeah I do not know the lending policies of CMIB.

[CharlieH]

A number of posts removed.


7) You will respect fellow members and post in a civil manner. No personal attacks, hateful or insulting towards other members, (flaming) Stalking of members on either the forum or via PM will not be allowed.

8) You will not post disruptive or inflammatory messages, vulgarities, obscenities or profanities.

[Johnniey]

 

 

you participated willingly in a "tea money" procedure and now you want to complain? 

Yes, if you have no useful reply please go away.
 
I have been working here for 26  years and this tea money is the usual way to get things done.
 

 
Absolute nonsense!
 
And why on earth did you agree to having the transaction conducted "outside the Bank"??!!
 
Patrick
 

 
Because that it how it is done in Thailand, it is also how the Thai land offices work.
 

Took a time to get someone who knows what they're talking about.
Patrick has obviously not spent his 43 years here in the real world but, as someone else said, sitting high in his ivory towers. Edited August 10, 2014 by Johnniey

[Johnniey]

Forget about UK banks.....
 
I am not going to argue, just bribes are needed for loans to happen in a timely manor.
 
Also the same when you want to chop up land in a timely manor.
 
Also when you are out of province and do not with to return to pa the traffic ticket, easier to settle on the spot, again, non of this would happen in the UK.
 
I am 99.99% sure that Bangkok Bank Head Office knows this goes on as  a normal common daily practice within their organization in Thailand, (not their US and UK branches) This may come down to if the OP has any "friends" to go with him.  (Higher than a local cop). 
 
I believe that going to the Head Office, may possibly open a can of worms that will result in the OP being sued, possibly even funded by the bank claiming you are accusing their staff of being corrupt......  They don't need to win, just drag you out for many years.
 
See what your wife can do locally is my advice.

Good advice mate; much appreciated.