I decided to write a new tutorial on how to link Paypal to Unionbank EON account to replace the old tutorial I’ve written previously. I noticed that the process of verification with EON accounts is now a bit easier and simpler than the one I’ve experienced.
Below is the summary of steps:
- Unionbank does NOT need any minimum balance requirements. However, one must pay P350 to open up a bank account and the accompanying Unionbank EON card. That amount represents the annual fee of the card, which always due every year. If you fail to pay P350 on the following year, then the card is automatically deactivated.
- Take note of the information written on the Unionbank EON card. The 16-digit number in groups of 4 at the front of the card is always referred to as the card number. The smaller number below your name is the bank account number. The bank account number IS THE ONE TO USE for verifying Paypal account.
- You need the following:
- EON card and bank account number
- valid email address
- valid phone number
- valid postal mailing address which should be the same as the address indicated in your Unionbank EON card
- at least $1.95 converted in Peso deposited in the EON account – this is around P200 in exchange rate at this time. That amount shall be taken away by Paypal for verification. (Note that $1.95 is returned back into one’s Paypal account after a successful verification).
- Sign up for Paypal, choose Philippines then click the preferred account. Usually, a Personal Paypal account is enough. Make sure to use the same details that you had used with your Unionbank EON account. (If you want to know the difference between Personal, Premium or Business Paypal account, then read this previous post: Signing up with Paypal, which account is suitable?
- Confirm your email address by clicking the link in the verification email that came from Paypal. You will need to enter your Paypal password to complete this step.
- Go back to the Paypal page, and just below the welcome line with your name click on the Get Verified link.
- Login to your Unionbank EON banking and search on the transaction history for the VISA Expanded USE charge. Remember the 4 digits that appear after the word VISA.
- Switch back to the Paypal page and enter those 4 digits into link and confirm your debit or credit card.
How to Activate “Withdraw to Bank Account” Feature
I always get to pay less fees and get those Paypal funds early using withdraw to bank account option. Please read my previous post: Withdrawing Paypal Funds: Should I Choose “Withdraw to Bank” or “Withdraw to Card”?
- Login to Paypal account.
- Click Withdraw tab, then click Withdraw to your bank account.
- Fill in the information required. Although the video demonstrated how to add a Unionbank bank account, ANY OTHER PHILIPPINE BANK ACCOUNTS that are assigned Philippine bank codes by Paypal can be used: participating Philippine banks and their bank codes