As a new Philippine Account holder with Paypal, you are limited to transferring a maximum of $500 per day from your Paypal account on to your EON card.  There is also a $5 fee to make any transfer.  Because of the $5 fee, it would be my recommendation to transfer big amounts (i.e. $500 at a time) so that the $5 fee is a relatively low percentage.  Once you have built up the amount that you wish to withdraw, you can log on to your Paypal account, and click on the big blue button at the top that says “Withdraw Funds.”  Then select the place where you want to transfer the money to (for those following this series of articles, you will be transferring to your credit card).

Eon

When you have submitted the transfer of funds, Paypal will notify you that the transfer can take up to a week on Paypal’s end, and they tell you that your financial institution may take a little more time to complete the transfer.  Generally speaking the time will be much quicker!  In my experience in making a withdrawal to my EON card, it took Paypal only 1 day to complete their part of the transaction, and it took 2 1/2 more days for the money to show up in my EON account at Union Bank.  So, total transaction time was 3 1/2 days from the time that I submitted the withdrawal request until I had cash in my hand.  I consider that a pretty good transaction, especially given the fact that the process is happening in more than one country, etc.

So, good luck with your Paypal account!  Good luck with your EON card!  And, good luck with your sales or other money making activities so that you can put the whole Paypal system to good use!

There are a number of Credit and Debit cards that work with Paypal here in the Philippines.  My favorite, though, and the one that I will encourage you to use is a Union Bank EON card.  Getting an EON Account and Visa Card is VERY easy to do.

The first step that you need to complete is to apply for an account.  Did you know that you can do this without even leaving your house or office?  That’s right, the account application is done online, over the Internet!  Just go to Union Bank Web Site and  fill out the application.  When you get to the page that I linked to, read over the terms of the EON Cyber Account, and scroll to the bottom of the page.  Click on the link that says “Read Visa Electron Terms” and go read those terms.  If you agree to the terms, just click “I agree” at the bottom of the page and then you will be served an application form.

Fill out the EON application form completely, and wait for a week or two.  You will receive a letter in the mail from Union Bank.  When you get that letter in the mail, you can go to the Union Bank Branch that you selected on the application and pick up the Card.  I recommend that when you pick up your card, you should make a deposit of P500 to P1000 into your Cyber Account, this will be needed as part of the Paypal Activation process.

After picking up your card it will take about 10 days before your account is active and ready to use.  Just wait for 10 days and then try to log in to your account (EON account, not Paypal) online, or try your card in a Union Bank ATM machine to see if it works yet.  Once the card is working, and you verify that you have some money in your account, you are then ready to go to Paypal and activate your account there.

With your EON card, don’t just trust what happens online.  My card has been active for over a month now, but I still can’t log in on their website.  I intend to be talking to Union Bank soon to see why I can’t log in, but even though I can’t log in, the card still works fine, and I use it all the time.

I highly recommend the Union Bank EON card – give it a try and see what you think!