Unionbank EON Cyber Account

This blog’s author wishes to make known that the steps in the procedures were taken in order to have a Unionbank EON Cyber Account for the transfer of payment made from sponsored posts paid through PayPal, were done through application in person, not through online application. Though the two are the same, except for the first step.

Here are the steps in the process that I went through to have money from PayPal transferred to my Unionbank EON Visa Debit Card.

1. Because I was so excited to have my EON Card I went to the nearby Unionbank Branch to be able to apply for my EON Cyber Account personally. For those who are pressed for time, you may apply online through this clickable link below: http://www.unionbankph.com/EONCYBER/eonapplystep1.asp The link does not work anymore, JUST GO TO THE BANK NEAREST YOU.
   
2. All EON Cyber Account applicant should present two valid identification cards with photos. These identification cards would do: PRC card, TIN card, SSS Card, GSIS Card, Driver’s license, passport, postal id, credit card.
3. After filling up the necessary form, I was given a calling card by the New Accounts personnel. The calling card has the number of the bank’s branch and the personnel’s name who I will call to know if my card would be ready for pick-up. For those who will apply online,I think you have to indicate what branch you prefer to pick up the EON Cyber Account card.
4. After a few days, I got an affirmation that my card is ready for picking up.
   But before I had the chance to do so, I read online forums, asked around and read as much as I can about the EON Cyber Account and its relationship with PayPal. These were the things I needed to remember: That there should be a deposit of $1.95 worth in my card, as per PayPal instructions; That I need to have a 4 digit expanded use number for PayPal to be able to verify my account exists.
5. When I went to the Unionbank branch to get my card, I paid the annual fee of PhP350.00 or about USD8.33, converted at PhP42.00/$1.00. I paid the amount of PhP500.00 and deposited the PhP150.00 change into the account. Why? Because I needed to have at least $1.95 worth of money in my EON Cyber Account as per PayPal instruction.
6. When I went online I registered my EON Cyber Account to my PayPal account. I remained unverified at first because I needed to give PayPal my extended 4 digit number (or something like that) for my card to be verified.
7. I called up the Unionbank hotline to get this 4 digit number needed to verify my Unionbank EON Cyber Account with Paypal. Once I put the numbers in the PayPal account, my card was verified.
8. PayPal deposited a certain amount in my EON Cyber Account to make sure it was up and running. Then it was also withdrawn by PayPal. (Not sure this was the way but something like this happened and I can’t remember how much the amount was. It was not that much though)
9. When everything was in order, once my Unionbank EON Cyber Account was verified, funds from the sites where I get my sponsored posts started trickling in. There were even funds that were not deposited prior to my having the card verified, but were deposited by the site for sponsored posts.
10. To be able to transfer funds from PayPal to the Unionbank EON Cyber Account, a fee of $5.00 per transaction would be debited from the deposits made in PayPal. It is best to transfer significant amounts since you know, $5.00 is still $5.00. Bank accounts in North America are not charged for the transfer.
11. Wait for a few days for the funds to be transferred to the Unionbank EON Cyber Account. When these are transferred, the current foreign exchange for $ and PhP applies.
12. The money can then be withdrawn from any Megalink ATM branches. BPI would also allow some withdrawals done unless specified otherwise by signs put up on their ATM.
13. Since this is a Visa Electron card, it can also be used to pay for purchases. BUT, better ask first lest you end up with money withdrawn from your account but your card/account would be denied when swiped.

Re #13, nope, that hasn’t happened to me yet. Why use the card when paying for purchases when I can withdraw the money and pay using cash. This is guaranteed that you can make the purchase you need. Unless of course…

Re #13 No, these accounts can’t be used for purchases. I have asked about it several times and the answer was always NO.

If I have forgotten something else, just let me know.