Receiving Payments and Withdrawing
On Receiving Payments
- Notification - You will be notified via your registered email at Paypal that you have a pending payment.
- Transaction ID – You will also receive a transaction ID in the email notification.
- Acceptance – To accept this payment, you must log in to the Paypal website and click the ACCEPT button next to the transaction.
- Upon ACCEPTANCE of the payment, the payment will be reflected on your Paypal account balance.
Procedure for Withdrawing Payments from your Paypal Balance to your UnionBank bank account
- Once the payment has reflected in your Paypal balance, you can transfer the funds to your UnionBank bank account by using the \"Withdraw to Bank Account\" feature. You will need your UnionBank account number (12 digits) and the UnionBank bank code (010419995).
- The transfer to your UnionBank bank account will be completed within 5 to 7 banking days from the date of your withdrawal request. A status report of your withdrawal request is reflected in your Account Overview screen. There is a P50 charge for withdrawals P6,999 and below. Withdrawals P7,000 and above will not be charged a fee.
- Your funds will be converted to the peso equivalent using the VISA Exchange rate for the day of the withdrawal request.
Procedure for Withdrawing funds to your UnionBank account
Step1: Login to your Paypal account
Click” My account” tab and then “Withdraw” sub tab
Step2: Select the “Withdraw funds to your bank account option”
-See fees involved-
Step 3: Select the bank account and amount to withdraw
Step4: Confirm the transfer
Please note the terms and conditions of Paypal concerning the frequency of payment acceptance.
- Personal Accounts – You can only accept payments monthly and up to 5 credit or debit card payments annually with your Personal account.
- Premier Accounts – This account allows you to accept credit or debit card payments for only 3.4% plus $0.30 USD per transaction.
*FULL USE: Limits shall be based on the available balance for debit cards and the available credit limits for credit cards or other limits imposed by PayPal or the bank.
For regular enrollment, you have a limit of $100.00 for every transaction. With the expanded use number, you will have a $500.00 limit for every transaction. with UnionBank\'s VISA Cards!