In an earlier post, I reported the seeming great news that Filipinos could withdraw their Paypal balances to a Visa debit or credit card. That’s great news. 26 countries had this avenue opened to them. In the Philippines, the only bank that is really offering visa electron debit cards is Unionbank and their EON account. Paypal withdrawal experiences with Unionbank Eon have been anything but something to celebrate about.
I decided to a do a test payment from my wife’s paypal account to her UnionbankEON account. I initiated the transfer on November 12th and it was noted as completed on November 13th in the paypal page. As of November 22nd, it still hasn’t posted to the account. That’s 8 business day and still no transfer.
Granted Paypal does say that the time can be longer depending on bank policy, but here is the real problem with Unionbank EON. Some people are reporting transfers in as few as 3 to 4 calendar days and others are reporting that it takes up to 20 days. This is a big problem. why is there the difference in processing times? Aren’t all accounts treated equally? Why are some being given access to their funds quicker than others?
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tsk tsk tsk My confidence is a bit shaken. My wife called Unionbank. They see the Paypal withdrawal made on the 23rd of November, but not the withdrawal made on the 13th. They say they have no record of it. They said they would check the float department and advised us to contact them in 5 to 7 business days to see where it is.
About the withdrawal on the 23rd, they said they can see it in their system, but it will take up to 11 business day to credit to the account.
So the withdrawal on the 23rd posted to the account on the 27th. The withdrawal from the 13th of November has still not posted and UnionBank is still giving the run around. It’s obvious that it’s been lost and no one will do anything.
That’s why I was very peculiar on using “baby” products, meaning starting off services. I think the only “boom” for the unionbank eon cyber card is that it is the easy way of getting your paypal verified. I would rather use BDO atm w/ mastercard feature for only 2k initial/maintaining balance.
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