Unionbank EON Cyber Account - the Next Big Thing after Signing up with PayPal

17 January 2011
using your EON card to sign up for a cyber account
Last week, we discussed how vital PayPal is to realizing your freelance career. Today, we shall go over the procedures of opening an EON cyber account with Unionbank. 

Such account is not necessary if you own a credit card. However, I highly recommend taking this route simply because it is advantageous. More importantly, you will need either a credit card or this EON (VISA debit) card to verify your PayPal account. 


  • No cash-out charges. As of the moment, there are only 2 debit cards that you can use to verify your PayPal account. One is Unionbank's EON and the other is BDO. I've already abandoned my account with the latter. Freelancers fessed up that BDO charges you P200 per transaction when you transfer your PayPal funds to your bank account. Yikes!

  • No minimum maintaining balance. It doesn't matter whether you have P3,000 or zero funds at all in your EON cyber account. You will not be penalized by Unionbank. As you probably noticed, many other banks impose a maintaining balance so that in the event your funds fall below the specified minimum, the bank will deduct a monthly service fee from your remaining funds.

  • ATM debit card and electronic banking account in one. There are many things that an EON cyber account allows you to do: debit your purchases from the card, pay your bills online, withdraw cash from the ATM machine, do bank transfers and - when you're vacationing abroad - cash out funds in the local currency of the country you're visiting. Sweet!

  • Internal access to Unionbank's customer support desk. Upon online registration, you will be given your own inbox and direct communication access to the branch manager or Unionbank's customer support staff. Most of the messages are auto generated, but when I had specific inquiries, I've always found the responses attentive and prompt.


  • Annual fee. An EON cyber account requires the payment of P350 every year. Such charge appears minimal, since credit cards charge you thousands anyway.Accounts opened with other banks come free. The big question is: can you chalk up your bank's minimum maintaining balance?

  • Paper-based application + personal appearance. Since 2009, Unionbank already disabled the online application process. Applying for an EON cyber account today requires your personal appearance at the bank. This means you might have to miss work for half a day or so to attend to the transaction. 

Let's get right down to main business, shall we? How can do you open an EON cyber account with Unionbank? Let me tell you. The procedure is pretty painless, and you can get your card in 2 weeks' time in just 8 easy steps. 

Opening an EON Cyber Account with Unionbank

  • Step 1. Prepare 2 photocopies of 2 valid identification cards (IDs). Valid IDs generally contain your photo and signature. Some of the most commonly accepted IDs include your:
  • passport
  • driver's license
  • digitized voter's ID
  • company ID
  • school ID
  • SSS ID
  • postal ID
  • TIN card
  • birth certificate (NSO authenticated)
  • marriage certificate (NSO authenticated)
  • NBI clearance
  • police clearance
  • barangay certificate
  • DSWD certificate

    • Step 2. Bring the original IDs and the photocopies to the nearest Unionbank branch. If you're from Cebu, I strongly suggest that you head to the SM branch (ground floor, near the supermarket and the ladies' CR, next to the escalator). The bank is conveniently located and the personnel there are the most accommodating and the most efficient that I've encountered.

    • Step 3. Request an application form for an EON account from the guard. Sometimes, he will give you duplicate copies (meaning you may be asked to fill out the same application form twice.)

    • Step 4. Fill out the form as accurately as you can. Important: Make sure you indicate the same full name, the same billing address and the same e-mail address that you used to register for your PayPal account.

    • Step 5. Submit the accomplished application form(s), your original ID and the ID photocopies to the bank personnel for review. The bank will collect the photocopies and will return the original IDs to you after reviewing your application.

    • Step 6. Upon the bank personnel's instruction, pay P350 to the teller. The P350 is EON's annual fee. Do not confuse this amount with the P200 (or the peso equivalent of $1.95) which you can deposit later into your EON account for PayPal verification.

    • Step 7. Return to the bank personnel who entertained you. Ask for the branch's telephone number.

    • Step 8. Call the bank after 2 weeks to follow up on your card. Typically, it will take Unionbank 2 weeks to have your EON card ready for pick-up, but in some instances, your card will be out earlier.

    Ta dah! That's it! Consider yourself one step closer to getting your PayPal account verified, trooper. Although the steps outlined here appear lengthy, the procedure is really a piece of cake when you visit the bank prepared. Unionbank's website is www.unionbankph.com
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