Good news to Paypal-Unionbank users!
By Sasha on Mar 12, 2009 in Money matters
Update: For those who do not know Unionbank’s web site URL, here it is: https://www.unionbankph.com. You can apply for a Unionbank savings account or EON online.
Yay! Transfer from Paypal account to Unionbank account is faster now than before! Mine took a little less than 2 days to get the USD credited to my account!
I use Paypal for the paid programs I am a member of. When I need to withdraw my USD from my Paypal account, I transfer it to my local bank account. I have a Unionbank savings account. I noticed last week that the email coming from Paypal saying that you withdrew money from your account says that the transfer will be complete in 2-5 days, if there are no glitches. Before, the email says that the withdrawal and transfer will be complete in 5-7 days.
Last Tuesday, March 10, I withdrew my USD from Paypal to my Unionbank account. Normally, it will get credited after 3-4 days. But lo and behold! I checked my Unionbank savings account a few hours ago and the amount is already credited! It took a little less than 2 days for the transaction to complete!
So now, Paypal-Unionbank users, withdrawal to your bank account is much faster than before. I am not sure if it is the same with other local banks. Let me know if you are also using other than Unionbank, if the transfer is as fast as this.
I am an accountant, a CPA. I'd been working for 10 years as a corporate rat when I decided to quit. I am now working at home as a consultant and full time blogger.
Raquel | Mar 13, 2009 | Reply
What a great info Sasha. Ang BPI naman, ang tagal cguro it will take 5 to 10 working days. May tanong lang ako sasha, itong Unionbank mo, pagpasok ng pera, converted into peso na ba or USD pa rin?
One last question, every widthrawal from payapl, meron bang service charge ang unionbank? Sa BPI kase, meron…about php200 to 300.
Sasha | Mar 13, 2009 | Reply
@Raquel… Ang tagal naman ng BPI, manay! Open a Unionbank account. Choose EON. Walang maintaining balance yan but you will have to pay a P350 annual fee. OK na rin di ba? Yung sa Unionbank converted na yun to peso.
Every withdrawal sa Paypal walang charge basta P7,000-up. Less than that, may 50 pesos na charge. Yun lang wala ng iba. Ang mahal niyang sa BPI, manay! Hanggang andito ka, open ka ng Unionbank mo na.
chari | Mar 13, 2009 | Reply
Galing naman. Pero bakit sa akin hindi pa dumating. Na transact ko Paypal March 10 din pero gabi until now la pa. I hope pareho transaction days sa akin. But nice info. Thanks!
Anna | Mar 13, 2009 | Reply
Hello, Sasha! Napansin ko nga na medyo bumilis. In my case, I tried transferring Feb.27 which was a Friday. Came Tuesday, March 3 meron na. Mine is at Metrobank.
Raquel | Mar 14, 2009 | Reply
Salamat ra reply manay Sash. Meron akong dollar account sa BPI, ngayon gusto kung mag peso account naman. Buti nalang meron kang post about this talagang jan na ako sa Union bank mag open ng account.
Sasha | Mar 14, 2009 | Reply
@Chari… I am not really sure pero this happened to me in the past eh. Check with your bank branch. Baka sa kanila matagal ang crediting or something. I hope nakuha mo na yung money mo
Sasha | Mar 14, 2009 | Reply
@Anna… Ganyan dati ang Unionbank. 4-5 days ang transfer and crediting time. Ngayon mas bumilis na.
Sasha | Mar 14, 2009 | Reply
@Raquel… Ah kaya pala may charges ka lagi, manay! Kasi dollar account. Sa Unionbank mas ok yung sa peso wala ng charge yun basta P7K-up.