How to withdraw PayPal to UnionBank EON account
October 30, 2007
Finally, my own story of a successful PayPal withdrawal.
On October 19, I requested a withdrawal of $73.55 worth of PayPal funds to my UnionBank EON account. On October 21, PayPal marked the transaction as “Completed” and two days later, the peso equivalent showed up in my EON account. All in all, the withdrawal request took 4 calendar days.
According to UnionBank’s Customer Support, PayPal funds received from merchants — those received from eBay buyers, for instance — usually take up to 11 calendar days before they are transferred to the UnionBank account.
However, normal PayPal transfers — that is, transfer of PayPal balance (not credit card funds) from one person to another — may only take 1-2 calendar days.
That explains why several withdrawal requests in the past had varying processing times. PMT member Biske withdrew PayPal funds on October 13 and received the cash four days later. Another member, jerometurner, got the funds after three banking days. Member smile experienced the fastest PayPal-to-UnionBank transfer; cash was transferred to the bank account after only one day.
To those who plan to withdraw and transfer PayPal to their UnionBank accounts, here is a step-by-step guide to do just that.
How to transfer PayPal Philippines funds to a UnionBank account
- In your PayPal account, go to the My Account > Withdraw section and choose your withdrawal option. Unless you have a US bank account, you are most likely going to withdraw funds to your Philippine-based debit or credit card, so click the Transfer funds to your card link.
- Enter the amount you wish to withdraw and choose the card where funds are to be transferred. A valid credit or debit card must be attached in your account before you can do this. (Click here to find out how you can use UnionBank credit or debit card in PayPal.) Once you are done, click Continue.
- Review all related details before submitting the request. PayPal reminds you that there is a $5.00 withdrawal fee per transaction and additional return fees are charged if you have an incomplete or incorrect withdrawal request.
- A confirmation page appears if the request is successfully submitted. The page also shows your remaining daily withdrawal limit. PayPal Philippines accounts normally have a $500 limit on daily withdrawals.
- The transaction then appears in your Transaction History. Requests that are not yet confirmed by PayPal are shown as “Pending.” Those successfully processed are marked “Completed.”
- When the funds are actually credited to your bank account depends on UnionBank. As explained earlier, processing time can range from one to 11 calendar days. Others have reported, however, that this can extend to 3-4 weeks. Contact UnionBank to inquire about the status of your withdrawal if you still have not received anything after a few weeks.
Learn more about withdrawing PayPal funds in the How to withdraw funds from PayPal Philippines accounts discussion thread.
July 28th, 2009 at %I:%M %p
After all the updates and fixes of Unionbank..I want to ask all of the people who visit this site and have experiences on paypal to EON account..How many days to transfer money from paypal to EON debit card??? In this date July 2009?!?!?! I want an update..Please..Thank you! =)
August 19th, 2009 at %I:%M %p
It seems Unionbank thinks they have a right to keep peoples money.
We have just been informed about a case of a young woman goes to a ATM machine to withdraw money from her Unionbank account for food, the machine does not pay out but it still deducts the amount from her account, so she reports it to Unionbank only to be informed it will take them between 3 to 15 days to even look into it. In that time the woman goes hungry, what if it was her rent money she was withdrawing and Unionbank takes 15 days to look into it, by that time she has been evicted from her house and living on the streets.
It is theft and there is no doubt about it, they have taken her money and are refusing to let her have it.
BG´s latest blog ..Unionbank Philippines Theft
August 28th, 2009 at %I:%M %p
I called EON cust svc 3 times today bec. i got this email from paypal sayin “An electronic funds transfer from your PayPal account to your bank account was rejected today for this reason:
Invalid Bank Account Information”
the cust svc staff told me it’s a paypal issue. I went back to my paypal account and found out that indeed if you’re not aware of your registered name to be diff from that of your eon account name then transaction problems like this occur. so i change my business name and I will have to wait again for another 4 days hoping this time it will push thru. I was deducted P250 from my paypal account for this incorrect Account Name entry. So advise ko lang dito sa mga mag withdraw from paypal to eon… make sure your eon account name matches with your paypal account name.
December 24th, 2009 at %I:%M %p
Hi,
Withdrawal from paypal using EON is not so hard at all, just make sure that the following details are correct:
1. You added your EON account to paypal;
2. Your paypal name and EON account name is similar and all the details are correct to avoid return of withdrawal and a fee of Php250;
3. If you don’t want to be deducted by paypal with $5, withdraw at least Php7,000.00. Withdrawal of the amount less than that will attract $5.
4. Withdrawal from paypal may take 3-5 working days. I usually withdraw on Monday, in this case it usually takes 3-4 days only that the amount will be credited to my EON.
5. You can check your balance whether you receive the amount online, to avoid unfruitful trips to ATM. But make sure that you have enrolled in online banking.
In case you face problem with your EON transaction, it is the best choice to call them or visit their branch.
Hope I am able to help you guys!
January 29th, 2010 at %I:%M %p
You can also use Payoneer debit card Mastercard to verify your Paypal. Use this card to receive or pay online and offline. You can get this card for free and delivered at your doorstep. For more information about this card check this: http://yourownhomebasedincome.blogspot.com/2010/01/step-by-step-guide-to-have-your-own.html
February 4th, 2010 at %I:%M %p
i usually get my money from paypal within 3 to 4 days. also i only use the direct to bank deposit which you only pay 50 pesos.