Saturday, March 21, 2015

Union Bank Eon Card for Paypal Payment in the Philippines

Union Bank Logo
Photo credit: Domain

Online writers get paid through PayPal either weekly or monthly. There has to be a local intermediary bank, and the least expensive choice is getting an Eon Card from Union Bank. It is rather easy and you can do it online. The initial payment is about P500 and the card is released in a weeks' time.

I didn't know that it was time to renew, until I got an e-mail from PayPay that my card was expiring. Since my daughter is an online writer, I did not renew the card immediately as I can send the paypal payment to her, and she can withdraw the amount for me.

I thought all along that I need to shell out money for the payment of bank fee, but was surprised that I didn't have to pay anything. The only downside, is there is a five day waiting period. Since I submitted it on a Friday, I will get the new card the next Friday. Well, not bad as I can wait.

My daughter uses BPI as her intermediary bank. But most writers that I know, uses the Union Bank Eon Card. Since I used the card solely for online work, I was ashamed to show it to the bank since there is little money left in the account. That will improve next time, when I get to do more freelance work again.

Union Bank's Eon Card
Photo credit:
  • Easy to apply at minimal bank fee charges of around P500;
  • No need for a maintaining balance;
  • 3 to 4 days of waiting time;

  • Delays happen, where money is withdrawal on the 5th or 6th day;
  • Banking charges of US$5 for every transaction below P7,000

Bottom Line

Union Bank's Eon Card, is a decent intermediary bank that can be used for online payment through PayPal. There are several branches in Metro Manila, that you can go to open an account. Whenther you are a new online writer, or  a trader who expects to be paid through PayPal, it would be wise to open up an Eon Card through Union Bank immediately.



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