Frequently Asked Questions(FAQs)

1.What can I do with Paypal?

Paypal is ideal for shopping online. It is perfect for buying and selling on ebay or other merchant websites. Plus, it is a safe, secure and reliable way to send money to family and friends using your Paypal account. What’s more, you may convert your Paypal balance into cash by withdrawing to your Unionbank VISA card or directly withdrawing from your Unionbank account..

2.Is Paypal free to use?

Fees
Personal Account Premier/Business Account
Open an Account Free Free
Send Money Free Free
Withdraw FundsFree for bank accounts in the U.S Fees for other withdrawal options Free for bank accounts in the U.S Fees for other withdrawal options
Add Funds Free Free
Receive payments funded by PayPal Balance, PayPal Instant Transfer or PayPal eCheck Free 1.9% to 2.9% + $0.30 USD
Receive payments funded by Credit Card, Debit Card or Buyer Credit 4.9% + $0.30 USD (limit of 5 transactions per 12 month period)** for domestic or U.S. transactions

2% + applicable Fees Fees for cross border payments

4.9% plus $0.30 USD for card payments received using PayPal on Skype 		1.9% to 2.9% + $0.30 USD
Multiple Currency Transactions Exchange rate includes a 2.5% fee** Fees for cross border payments Exchange rate includes a 2.5% fee** Fees for cross border payments

These fees apply to U.S. users only. For Canadian fees, click here. For European fees, click here. Otherwise, click here.

** If your transaction involves a currency conversion, it will be completed at a retail foreign exchange rate determined by PayPal, which is adjusted regularly based on market conditions. This exchange rate includes a 2.5% spread above the wholesale exchange rate at which PayPal obtains foreign currency, and the spread is retained by PayPal. The specific exchange rate that applies to your multiple currency transaction will be displayed at the time of the transaction.

** Personal accounts may not receive payments funded by credit card, debit card or Buyer Credit for eBay or eBay Express transactions without upgrading to Premier or Business accounts.

3.How do I withdraw funds from my Paypal account?

OptionsProcessing TimeCost
Withdraw funds to your bank accountUnionBank account 5- 7 working daysFree for 7,000 PHP or more P50.00 for 6,999.99 or less
Transfer funds to your card4 working days$5.00 USD (VISA exchange rate for the day of withdrawal request)

4.How do we add our Unionbank account to withdraw funds from my Paypal account?

Step1 : Log into your Paypal account
Click “Profile “tab and then click “Bank account”

Step2: Add bank details

(Please take note that your first name and surname on your Paypal account must match the name of your bank account. If it does not , the withdrawal request will be rejected by UnionBank. )

The bank code number of UnionBank is 010419995.

Step 3: Review your bank account information

Step 4: Confirm

5.How do I withdraw the money?

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

6.How long does it take for funds to reach my UnionBank account?

It typically takes 5-7 banking days but UnionBank credits it upon receipt from PCHC via EPCS.

7.Is there a minimum withdrawal amount?

Yes, there is a minimum withdrawal limit depending on the currency which you want to withdraw. For US Dollars it is $ 10.00.

8.Who do I call for my Paypal account inquiries and of issues of immediate concern?

You may call ,Paypal during the following hours of service:

4:00 AM PST to 10:00 PM PST Monday through Friday
6:00 AM PST to 8:00 PM PST Saturday and Sunday
For general questions, please call + 1-402-935-2050

9.Who do I call for inquiries on my incoming credits/remittances to my Unionbank account ?

You may call UnionBank’s 24 hour hotline Customer Service at 84-186.

For domestic toll-free , 1-800-1888-2277

For Universal toll-free , 632-800-8277-2273