eon Cyber Account Online Banking by UnionBank

The eon Cyber Account by Unionbank is actually a great product because you can connect your Paypal account to it and translate your online earnings into cold, hard peso. And there are no fees as long as you transfer the minimum of P7,000 per transaction from Paypal to eon. You can also transfer or make payments to other people who have eon accounts as well as make certain online payments.

There is no minimum balance for an eon account so you can just withdraw all your online income and not worry about the maintaining balance that is common to almost all ATM accounts. The catch? You just have to pay an annual fee of P350 on it. But I think that is still worth it, especially for active online earners.

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The problem with this service, however, is that the online system is frequently down. They have a down time that last for many hours, several times a week. And it gets worse during 15-30 pay days. It is really a hassle especially if you have to pay something urgently online and you are waiting for the money to pay for it. Or if you need to check your balances for a transaction. You have to wait several hours for the service to be reinstated.

Like today, they had been offline since this morning. A friend of mine called their CSR and was told that they are going to be up by 10am because they are just having maintenance. It is almost 5pm now and the site is not yet back up again.

Maybe it is not bothersome if it just happens like once a week or once a month, but since it happens several times a week, it is really troublesome. I really hope that Unionbank can look into this and improve their service. After all, they are not giving it for free.