You might have known about this a long time ago. I did as well. I had my Union bank account added in my Paypal account since last January but for the longest time I didn't use it because I feared it may not work and I get a $5 penalty for botched transaction.
The advantage of withdrawing your money to your 
Philippines bank account is that it's totally free for withdrawals over 7,000 pesos and only pay 50 pesos for anything lower than that. Compared to withdrawing your money using a Visa debit or credit card which you pay a $5 fee, it definitely saves you a lot.
Last week, I got a chance to finally test the system so I'll know if it does work. And if it does, then I can finally avoid paying a significant amount just for the money transfer. Transferred less than $100 dollars just to test it knowing I can be deducted $5 if the bank refuses this transfer. Well, 3 days after doing so, it was a complete success! It was a little faster than it usually was when using my EON visa debit card too. All's well that ends well.
If you have an existing EON Visa debit account added in your Paypal account, all you need to do is get you actual Union Bank account number for that Visa debit card and input the bank code assigned for Union Bank Philippines. I did that myself and was approved in a matter of seconds. I'm never withdrawing money using the Visa Debit card way again!Technorati Profile
Check out my previous post about 
paypal:
1. Paypal Finally paid me!
2. Withdraw only on Mondays and Tuesdays.
4 comments here!:
Thanks CCV for adding me up. I really appreciate it. Your blog is informative and helpful to new bloggers like me.
You're welcome Chres! I would like you to encourage your peers to establish a blog of their own. It's a great way to get your thoughts out. As you keep blogging, you get the hang of it and maybe earn some extra cash as well, if you wanted to. :D
its nice to know that paypal also works on our local bank account.
Would this work with any bank account? I asked BPI and the teller was telling me something about additional charges because they don't have a direct partnership with Paypal.
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