Freelancer Unrest with PayPal to Unionbank Delayed Transfers

Breaking news. There's trouble in paradise. Freelancers are fuming mad.

Check Unionbank's Facebook fan page and in the discussions board, you will unearth a mountain of complaints and rants regarding delays in PayPal to Unionbank transfers.

Where before it takes only 2 to 3 days for your PayPal funds to be reflected on your Unionbank statement, the processing period has lagged to 5 days and even 2 weeks for many.

What is strange is that whenever reports and issues of a similar nature are raised, Unionbank stays mum. It is understandable that newbies who are not familiar with the PayPal verification process may have (1) failed to indicate the correct bank code (2) mistaken the ATM card number for the bank account number or (3) used incongruent names for the PayPal account and the Unionbank account.

The fact that the rants stem from old users indicates that something is amiss.

Haters are now threatening to cross over to other banks. One user wrote, "Better na bumalik ako sa dating bank ko... kasi kahit may charge, na-rereceive ang funds on time. (I am thinking of reverting to my old bank because although it charges a service fee, I can receive the funds on time.)"*

Writing to Unionbank for Undelivered PayPal Funds

Undelivered PayPal funds are the horror of any online provider. It may take a bit of waiting for completed fund transfers to reflect in your online bank statement. 

There have been no untoward incidents though of money vanishing into thin air. In the event that the receiving party is unable to receive funds, these will be sent back to the sender's PayPal account -- albeit with a service charge of P250 (or its dollar equivalent).

In principle, it takes only 2 to 3 business days for PayPal funds to reach your Unionbank account. For the past 3 transactions though, I noticed that I had to wait longer and I had to write Unionbank a follow-up note in order to receive money...