After chatting with people who have tried out the new Unionbank EON and Paypal setup for getting money online, I’ve learned of two general problems with it.

1. PayPal doesn’t always accept the Unionbank EON card. Users need to verify to get the full benefits of PayPal. A web designer friend tried to verify her PayPal account by registering an EON card on it. When she did, she received an error message indicating that her card was denied.

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In a chat with a fellow technorepreneur, I was told that one needs to have some credit history with their cards before they have the cards register.

“You have to use the card both offline and online. Fill it up with cash and get yourself a transaction history.” He explained.

My web designer friend apparently used a totally fresh new EON card. Thus, she was denied.

2. It takes more than 5-7 days to transfer money from PayPal to Unionbank EON.

My technopreneur buddy tried to get some money from Unionbank EON. He transferred some cash from PayPal to EON. It was initially thought the this would only take 5-7 days. The currency was converted to pesos and took more than two weeks. My friend discovered that the transaction process wasn’t really smooth. This would annoy those people who really need the money instantly.

Despite these problems, we still look forward to using this combo. If it works, Pinoys can take advantage of many online income opportunities. We predict that this getting money online through PayPal will vastly improve in a year’s time.

UPDATE:
Over at Unionbankph.com, you can see that Paypal is now prominently displayed.
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