Whenever a Pinoy freelancer, digital marketer, or online entrepreneur considers linking his PayPal account to an existing bank account, his first choice is usually an account with Unionbank Philippines.
The orange and navy blue bank provides easy options for customers who would like to send and receive money of either local or foreign currency.
If you’re planning on linking your PayPal account to a Unionbank account, this post has all the information you need to get started and to successfully withdraw your earnings to your Unionbank account.
Step #1: Open a Unionbank Account
Your first step would be to visit the nearest Unionbank branch and sign up for a savings account. You have a choice of opening a regular savings account or an EON Cyber Account, the latter being the most popular option for Pinoy freelancers using PayPal as their withdrawal method.
The EON Cyber Account is basically a debit card and a savings account rolled into one. It’s designed for those who are comfortable with just ATM deposits and withdrawals. It’s easy to withdraw and pay for purchases online and offline.
I suggest opening an EON account instead of a regular savings account to use it to verify your PayPal account since you can’t use non-verified PayPal accounts to withdraw money.
Another great thing about the EON Cyber Account is that it also functions as a debit card, so you can avail of Unionbank’s special credit card offers and can pay for your purchases at the malls. If you’re the type of shopper who hates lining up at the ATMs, this is definitely a great benefit for you.
Here are the basic requirements for opening an EON account:
- Accomplished EON Cyber Account application form
- 2 Valid IDs plus a photocopy of the two
- PhP 350 for the annual fee
- Other documents such as TIN and SSS (optional; may be required by the bank)
- Initial deposit (optional)
You need to submit the application online before visiting the Unionbank branch of your choice to complete the process. The EON page on the Unionbank website has a list of IDs accepted for your reference.
Step #2: Activate Your Account by Changing the PIN code
Once you finished submitting the necessary documents, you’ll receive your new EON card over the counter and a sealed envelope with your temporary PIN code. Keep this because you’ll need it to activate your EON card.
Activation is essential if you plan on withdrawing money using your EON account. To do this, you need to make your first withdrawal in order to change the PIN code of your card. You can deposit at least PhP 100 and then withdraw it at the ATM to complete this first step.
Once this is done, you can now change the PIN code of your card. Have someone from the bank assist you if you encounter difficulties while doing this.
Step #3: Link your Unionbank EON Cyber Account to PayPal
Your next step is to link your EON account to your PayPal account. Go to your PayPal account, hover your cursor over Profile, and click Add/Edit Bank Account. Click on the Add button and type or copy and paste the following:
Add a Bank Name: UNION BANK OF THE PHILS
Add a Bank Code: 010419995
Add an Account Number: (insert your EON account number)
Make sure that your bank account name, bank code, and your account number are correct to avoid the PhP 250 charge for incorrect information. Also, make sure to type in your EON account number and not the card number.
Once you’ve added your Unionbank EON account to your profile, you can now withdraw your PayPal funds directly to your account. If you’d like to view the detailed steps on how to withdraw from PayPal to a Philippine bank account, check out An Overview: Withdraw from PayPal to a Philippine Bank Account.
In the mean time, here’s a short version of how to withdraw your earnings to your bank account:
- On your PayPal account page, click on the Withdraw link.
- Click on Withdraw funds to your bank account.
- Add the amount you want to withdraw from your PayPal account. Click the orange Continue button to move to the next page.
- Once you are sure that the amount and the rest of your bank account details are correct, click on the Withdraw Funds button to complete the transaction.
Fees and Other Things to Remember
Although it’s super easy to verify PayPal with Unionbank’s EON card, the benefits stop there.
If you plan on transferring the funds you receive to another account via over the counter withdrawals, ATM withdrawals, and the like, you’ll be surprised just how expensive the EON Cyber Account really is.
First off, here’s a list of fees that you have to pay to use and maintain your EON card:
- Visa Electron Annual Fee – PhP 350
- ATM Withdrawals – PhP 10 on the 3rd and all succeeding Unionbank ATM withdrawals for the month
- Non-Unionbank Withdrawals – PhP 12
- Over-the-counter withdrawals – PhP 100; they will ask you to wait in order to verify your signature with the main branch.
As you can see the fees are extremely high, which is obviously Unionbank’s way of keeping you from withdrawing your cash.
If you have another bank account outside of Unionbank that serves as your major deposit account for your earnings, I suggest not applying for an EON Cyber account and just opening either a regular Unionbank savings account or an account at a different bank. You’ll see in their Savings Account Fees page that there’s no charge at all for withdrawals, both via ATM and over the counter.
PayPal is overall an excellent e-commerce solution for thousands of Filipinos around the world, which is why opening, verifying, and linking your PayPal account to a Philippine bank account such as Unionbank EON will enable you to receive your hard earned freelance earnings in a matter of days. Many clients prefer paying freelancers via PayPal so it is also a practical option to go for if you want to be paid for your freelance services.
Hey, Stef. Great site its helping me out a lot. Thanks for putting it up!
I need an opinion on something. I need to get a credit card and I need to get a Paypal account. I have a savings account already at BPI and a checking account at BDO. In this case, would it be advisable for me to get a Unionbank credit card and use it to link up with Paypal?
Or is it safer and easier if I just get the EON CyberAccount for Paypal? And then I’l just get my credit card account somewhere else?
I see there’s even the option of using my BPI or BDO accounts for Paypal, so that there is actually no need for a UNionbank account. All these options are a bit confusing to me. What’s your advice?
Stef G. says
Hi Mommy Kelly! If you’re willing to wait for your next SOA to verify your PayPal, then a credit card is all right no matter which bank you use. But if you really need to use your PayPal to withdraw your earnings already, an EON card is the best choice because it only takes around 5 days to get the card. The only catch is that you have to use the EON debit card for some of your transactions first before verifying your PayPal account. 🙂
As for choosing which bank to use to withdraw your earnings, I would suggest sticking to your current accounts instead of depending on your Unionbank account due to the fees they impose on withdrawals. Scroll down to the bottom of the post for the list of basic fees. Hope this helps!
Hi! Ms. Stef G… I just need some help I couldn’t withdraw my money at paypal whenever I withdraw they will just say Technical Problem…. I just want to know if ever my paypal account name and bank name are not the same.. Can I still withdraw my money>????
Stef G. says
If you can show a screenshot of the problem, we can identify the problem.
It does help. Thanks for the quick response
regina mora says
hi there. i alredy got my union bank account,a eon debit account but when i log in to my paypal account and do all the things i needed to fill up, its says ill wait for my 4 digit paypal code. so where will i find it cause its already 4 days now and still i cannot find it.,. thats the only problem i have now thats why i cannot withraw money from my bank.
Hi, How are you? It’s in your EON account. You can view by checking the last 10 transactions.
Jean Drei says
I badly need your help coz I ‘m having issues with my paypal withdrawal. I have already linked my eon card to my paypal account and I did withdraw my paypal funds last May 8, 2012 to my card. However, until now It’s not yet showing in my eon account. What I did is.. I sent an email to paypal and asked them about the status of my withdrawal. Anne from paypal told me to wait for 5-7 business days to complete the request and there’s nothing to worry about. But after reading blogs about it, I started getting worried again because people used to get their paypal funds in just few days.
Hi Stef thanks for another helpful post!
“The only catch is that you have to use the EON debit card for some of your transactions first before verifying your PayPal account.” – can you explain this further?
Stef G. says
Hi, Ray. According to Unionbank, the debit card must be used several times before you can use it to verify PayPal. Some users experience an error of some sort when they get their EON card and immediately use it to verify their PayPal account. So use your EON to pay for a few purchases before initiating the verification process.
I’m filling an eon online application form. I just want to ask what information should I put in the Employer/Business Address since my currently job is Odesk only. My application could not proceed without this information. Thank you for the help you’ll be providing.
Stef G. says
I don’t recall Unionbank requiring applicants to be employed to be able to open an EON account. Did the person who assisted you say that you have to have an employer/business address to acquire one?
Thank you for the quick response. 😀
Actually, I apply online as the bank staff told me because she said the transaction is faster (one day) compared to applying personally in the bank (7 banking days). Since I wanted a faster transaction, I opt for the online application.
This is the link of the application form: http://www.unionbankph.com/index.php?option=com_content&view=article&id=1143&Itemid=249
The application requires to put an employer/business address to proceed the process. I’m really confused about this.
Stef G. says
I think you can just write “Self-employed” in the Nature of Work section, then your name and home address if you work from home. But please do ask Unionbank’s customer service if you feel that you’re still unsure and would like confirmation from them.
Okay, I”ll do that. Thank you for your patience and I hope you’re doing fine despite of the bad weather yesterday.
Have a nice day ahead. 😀
Kamusta po ung application mo thru online? Confused din ako sa fields na yan kung ano ilalagay ko sa employer’ address. I’m applying thru online kasi wla unionbank dito sa amin. Meron lng sa davao which is 5 hours travel from our place. Gusto lo smooth yung application para di masayang pamasahe ko kung pupunta na ako sa unionbank branch.
I have a little confusion here.. as mentioned above” Once you’ve added your Unionbank EON account to your profile, you can now withdraw your PayPal funds directly to your account.
But…” The only catch is that you have to use the EON debit card for some of your transactions first before verifying your PayPal account.”
can i withdraw my paypal funds without verifying it first? or i need to verify first in order for me to make widrawals ?
And is EON account better to keep as my savings account as well?
Hope you can help me with this..
Stef G. says
You should verify your PayPal account first before making a withdrawal to a bank account. As for an EON account being a savings account, you can opt to do that if you think it’s convenient or beneficial for you.
I am a Graphic designer freelancer and I am planning to apply for Union Bank EON Card so I can verify my PayPal Account, as of now I only use Western Union Money transfer in withdrawing my earnings. I am just wondering if EON Card can also function as ATM card to withdraw money from Paypal? Can I withdraw the money from Paypal funds directly from any ATM? How much is the charge for this kind of transaction? And can you please explain what is the difference between withdrawing money to bank account and to card? thanks.
Just an update! I successfully transferred my salary from odesk to eon. This blog really helps a lot. Thank you so much. God Bless!
Stef G. says
That’s great. Glad it worked out just fine. Thank you as well!
All Things Juliet says
When I verified my paypal account using EON, I got this error. “This credit card has been denied by the bank that issued your credit card. For details on why your card was denied, please contact your credit card issuer’s customer service department. Or, you may want to try adding a different credit card.” I have a Php200.00 deposit. What could be the possible problem. Someone experienced this error?
Hi Stef, great blog. I just wanna ask though whether you know if there is a remittance fee from Paypal to EON? I am currently using BPI for my Paypal account. What I know is that Paypal charges P50.00 if you withdraw less than 7k and then BPI charges P150 for the remittance fee. I am considering EON but I am not sure if they also have a remittance fee.
Joseph Moje says
what is the age limit to get EON ??
nag-apply po ako ng eon for para ma-verify / ma-lift ang sending limit ko, i already got the card but when i tried to sign up on unionbank online banking, it keep saying that my account/card number was in correct.. kindly help me with this.. thanks..
Hi, i successfully withdraw my paypal fund to my union bank account using your instructions. Where can I check if the money is on already on my unionbank/eon account? thanks you!
Hi, I’ve got an eon account but never withdrawn my earnings from my paypal yet since I was worried if paypal need to deduct 250 or more from my eon card to withdraw. Do withdrawing from paypal requires 250php first before they can send you the money to your eon? or do paypal deduct some money before they send it to my eon account? I need to know. thanks in advance.
Stef G. says
The P250 is the return fee if the transaction made encounters an error due to issues with your account.
Hi! I would like to know if there is a maximum withdrawal limit if I’ll withdraw over the counter using my Eon Card? TIA! 🙂
Stef G. says
Hi, Apple. I can’t recall anymore since I haven’t used Unionbank since cancelling my account years ago. You can always inquire with the bank staff.
in case I’m going to purchase an item online but in dollar currency, will the bank convert my peso funds from the card? I’m interested to have the eon card basically for online shopping.
Stef G. says
The bank will certainly convert it to Philippine peso.
I can’t log-in to my cyber account, what should I do it says that my User ID is invalid, need to send my earning there. Btw I’ve been inactive for almost a year now. What seems to be the problem, do I need to go on my nearest Unionbank to activate it again? Thank 😀
“6. How long does it take for funds to reach my UnionBank account?
It typically takes 5-7 banking days but UnionBank credits it upon receipt from PCHC via EPCS.”
this is what i mean, so is it instantly when they recieve that reciept? and how long does that receipt takes?
I have the same concern as yours. Were you able to withdraw your money at Unionbank? How many days did it actually take? I’m curious where and when Phil Clearing House clears the transaction.
Any thoughts on this as to how we can expedite their clearing?
I am really curious on why did you cancelled your eon account?
Stef G. says
IMO Unionbank just doesn’t fit my banking needs plus it’s expensive to maintain. Just to withdraw from a non-Unionbank ATM machine will cost me P12. So after much consideration, I cancelled my account and stuck with BPI. Never looked back since!
You cancelled your account from unionbank and you transferred to BPI? Can i just add a savings bank account to Paypal either a BDO or BPI savings account and use it to transfer funds from Paypal to one of these bank accounts rather than with the EON debit card?
Many Thanks =))
I’m really glad that I found your blog.
I’m also a freelancer, and I also work online. So I opened a BDO Peso Savings Account because I thought that I can use my BDO ATM Debit Card to verify my PayPal account. Late ko na na-realize na hindi pala pwede. Dati raw gumagana, pero di na ngayon. 🙁
So for now, I’m planning to open an EON Cyber Account in UBP or BPI My ePrepaid.
I just have some questions..
1. Can I open an EON Cyber Account without a regular Unionbank savings account? It looks more practical because it doesn’t have a maintaining balance.. Just the annual fee.
2. Let’s say I opened a regular Unionbank savings account instead of EON Cyber Account. Can I still verify my PayPal account using my regular ATM debit card? (not the EON Cyber Account)
3. Do you think EON Cyber Account and BPI My ePrepaid have the same purpose? Can I also withdraw from PayPal straight to a BPI My ePrepaid even though I don’t have a regular BPI savings account so I can just withdraw it in any ATMs?
4. Ano kaya ang mas ‘sulit’? EON Cyber Account or BPI My ePrepaid?
I need your advice please. Thanks in advance!
Stef G. says
1. EON already functions as a savings account, so no problem there. 🙂
2. Nope, an ATM debit card doesn’t work. It should be either a credit or debit card.
3. No in the sense that BPI My ePrepaid is really just a “prepaid credit card.” To transfer funds, you’ll need to deposit over the counter or reload from your existing savings account.
4. I’m biased (BPI client here), so it’s really up to you and based on your needs. 😉
thanks steff… this guide helped me a lot from verification of my paypal account til i withdraw the funds.. now paypal approved my withdrawal. im just waiting for it to transfer to my bank account after 2-4 business days.. thanks a lot.. more power to you..
-allan from caloocan
Stef G. says
Awesome allan. Hope the transaction went smoothly.
May I ask the exact number of days you were able to successfully transfer your funds from Paypal to Unionbank acct?
Is it possible it will be available in 2 days? Please advise. Thank you.
Stef Gonzaga says
2 days if you withdraw during the business week.
Kaye S says
Hi Stef! Hi everyone! did anyone of you experience paypal “access limitation”? my access to transfer my money from paypal to unionbank was reverted. I was asked to submit some details but I can’t resolve all issues and their support team is not being “supportive”. =( , This is my first time doing freelance and using paypal, I would appreciate your help/advice guys!
I got my account verfied and transferred my paypal balance completely howver checking my BPI bank the money is not there yet. PLs help
Hello stef, I want to open an account that can link to my paypal account, can you suggest me what bank or what kind of plan will I get? which is better BDO, Union Bank or BPI? thanks 🙂
Hi Stef, recently I received my eon card this past Thursday the teller told me that I need to wait for 24 hours for my card to get activated. After waiting for 24 hours I enroll my EOn card to their online site. But the page always say “unauthorized usage” although I put the necessary and right details up to now it still occured. Even paypal always declined my card I already put the necessary details accurately. Can you help me about this?
Stef Gonzaga says
Have you tried depositing funds into your account first? I’m not sure if this is still the activation process, but I had to do so when I got my EON card years ago. You can also contact their support for assistance.
Let me know how it goes.
Jose Manuel says
Yes, I do have quite same issue about that. My problem is do I have to deposit and withdraw so that my account will be activated? I just received my eon card today, Miss Stef Gonzaga, Please help me. Thank you.
Jose Manuel says
I read your info above and I really need your help. I want to clarify something vital about activating my account (The step 2). I just received my Eon card today, and I linked it to paypal and paypal sent me a message to my email, that i can withdraw funds to my bank account. What hurts me realizing about it is that, from what i read about the STEP 2,
“Do I really have change my pin in the ATM inside the bank and to deposit 100Php,and withdraw it again? so I can ACTIVATE my account? So that my transaction will be recorded to unionbankph.com website and get my PAYPAL CODE. and return to paypal to enter that PAYPAL CODE, in order to CONFIRM my CARD’S EXISTENCE???”
Please reply asap, send me a message through email. I really want to get my money in my Paypal as soon as possible.
Thank you Stef.
I’m just curious on why do you prefer BPI and why it is a better alternative for EON… You said EON is expensive to maintain.
You also said BPI deducts P150 from every PayPal withdrawal.
So if you transfer P10,000 from PayPal to your BPI account, you will only receive P9,850 right? Isn’t that expensive?
EON does not charge for PayPal withdrawal. So if you transfer P10,000, you will receive P10,000.
The only thing with EON is they charge you P12 for every withdrawal to a non Unionbank ATMs.
So let’s say you withdraw 5 times per month from a non Unionbank ATM. Your total charges for the month will only be P60.
Still a lot cheaper compared to P150 that BPI is charging for every Paypal withdrawal.
EON will only be expensive if you withdraw say 13 times or more per month…
I may not be seeing things your way so please enlighten me as to why BPI is a better alternative. I might make the switch, who knows 🙂
Stef Gonzaga says
Thanks for the comment! It’s been a while since I’ve checked the EON Fees page, so I’ll be updating this post soon.
There are several fees you’ll be paying for certain transactions:
The way I see it, the best way to save on EON fees is to consistently use it as a debit card. But since I’m always in need of cash, I’d imagine my withdrawal expenses to go up to the hundreds (over the P150 BPI charge) overtime with Unionbank.
That makes sense. Thanks.
I’m trying to set up an EON card online, but it requires employer information, I work as an online transcriber and my employer’s company address is in Australia, in the online application it only allows employers from the Philippines due to it Auto complete postal code. i have the complete address and phone number of my employer, do you have any suggestion on how i can go about this?
I think you can just put self employed and put your home address.
I got my eon card just today. I need to wait for 1 day to activate my card before I can use my card…. excited but feeling nervous. Can anyone tell me how to use eon card to book hotels?
Use it as a debit card. But it must have enough funds to cover the expense. This is not like a credit card where you can pay later.
It also depends if the merchant accepts debit card. most of them do as long as they have the visa logo they’ll accept it.
Hi can anyone tell me I registered my eon card nov 28 2013. Then it say will be good for 48 hrs. But when I tried to loggin my eon card why I always got pls input invalid card number.. can pls any one tell me how to do it.
Maybe 48 hours not counting weekends and holidays?
Try it again on Monday or Tuesday.
decided to apply for a Union Bank EON account due to this blog.
I’ll post my experiences soon.
antonio g jimena says
how claim my earning money
i want to withdraw my paypal account thru my bpi savings, but my paypal account is still unverified. i dont have any credit card. and i dont like to open an EON account. pls help me how can i withdraw my money using my bpi atm.
thank you so much…
What type of Paypal account do you recommend? Personal, business or premier? Looking forward to your response. Thanks.