UnionBank and Coins.ph

[julerz12]

I saw this post a while ago in Coindesk.
https://www.coindesk.com/ripple-affiliate-coins-ph-joins-new-remittance-network-reaching-unbanked-filipinos

Main points:
1. UnionBank launched 11,000 cash-out remittance counters sa Pilipinas
2. UnionBank extended its existing partnership with Coins.ph
3. Dragonpay and other local remittance firms, Cebuana Lhuillier, LBC, PeraHub and Palawan Express are also providing services for UnionBank’s new counter network.

So basically, makakapag-cash out na tayo from Unionbank to these remittance centers? Tama?
Converting to fiat: Crypto? -> UnionBank -> Remittance centers
Of course, we could just directly exchange it through Coins.ph and cash it out. 

Also, anybody here actually tried using UnionBank?
Since from all other banks we have here in the Philippines, parang sila yung pinaka open-minded when it comes to blockchain tech and cryptocurrencies; safe kaya funds natin sa kanila?
I'm asking this too because I've already read several complaints about those "other banks" na bigla-bigla na 'lang isinasara yung accounts dahil kuno may connection sa "cryptocurrencies". 

[Bttzed03]

I saw this post a while ago in Coindesk.
https://www.coindesk.com/ripple-affiliate-coins-ph-joins-new-remittance-network-reaching-unbanked-filipinos

Main points:
1. UnionBank launched 11,000 cash-out remittance counters sa Pilipinas
2. UnionBank extended its existing partnership with Coins.ph
3. Dragonpay and other local remittance firms, Cebuana Lhuillier, LBC, PeraHub and Palawan Express are also providing services for UnionBank’s new counter network.

So basically, makakapag-cash out na tayo from Unionbank to these remittance centers? Tama?
Converting to fiat: Crypto? -> UnionBank -> Remittance centers
Of course, we could just directly exchange it through Coins.ph and cash it out. 

Unclear sa news article kung ang ibig sabihin ng "extending an existing partnership" ay pwede ng mag-convert ng crypto thru UB. Sounds like UB will utilize the network of coinsph para mas mapalawak ang sakop nila dahil isa din naman itong money remittance platform.

Kumbaga hinihikayat nila mga users ng coinsph, na previously direct coinsph --> LBC/Palawan/etc., na sa UB na lang sila mag-cashout dahil pwede na din nila withdraw yung pera sa pinakamalapit na remittance center (coinsph --> UB --> LBC/Palawan/etc). Siguro magiging mas mura ang mga withdrawal charges.

Since from all other banks we have here in the Philippines, parang sila yung pinaka open-minded when it comes to blockchain tech and cryptocurrencies;

That appears to be the case.

May nilaunch silang project called i2i na nagkokonekta sa mahigit 100 na rural banks sa bansa thru blockchain. Hindi ko na alam kung ano update ngayon pero nasa hundreds of million peso worth of transactions na siguro ang dumaan sa i2i network. Not to mention, meron pa yung PHX stable coin pa nila.

safe kaya funds natin sa kanila?

Sila lang makakasagot talaga nyan  
Walang magagawa kung hindi magtiwala dahil wala ka naman talaga full control sa pera mo oras na ipaubaya mo sa kanila.

I'm asking this too because I've already read several complaints about those "other banks" na bigla-bigla na 'lang isinasara yung accounts dahil kuno may connection sa "cryptocurrencies". 

Yeah, I read stories like this too but that was a long time ago. Kung hindi ako nagkakamali, it was during the time na wala pang malinaw na stance ang BSP pagdating sa mga crypto platforms na kagaya ng coinsph. IIRC, it was BDO who closed the bank accounts ng mga coinsph customers. In return, tinanggal din ng coinsph ang BDO sa partner banks.

Since naglabas ang BSP ng memorandum treating crypto like coinsph as money remittance & payment centers at dahil KYC compliant naman, mas dumami na ang partner banks (kasama na ulit ang BDO).

[bisdak40]

Also, anybody here actually tried using UnionBank?

Been using UnionBank for almost a year now at wala namang problema ang account ko sa kanila. Yong nga lang huwag mo ilagay lahat ng pera mo sa isang banko, spread your eggs ika nga para fool-proof ka in terms sa safety ng iyong pera.

So basically, makakapag-cash out na tayo from Unionbank to these remittance centers? Tama?

So far ang nasubukan ko pa lamang ay yong pag-transfer ng pera from UnionBank to Coins.Ph and Gcash then vise versa. Yong ibang platform ay hindi ko pa nasubukan. Napakadali lang ng kanilang transaction, wala masyadong pasikot-sikot.

Converting to fiat: Crypto? -> UnionBank -> Remittance centers
Of course, we could just directly exchange it through Coins.ph and cash it out. 

Pwede rin naman na >>UnionBank-->Binance pero mahal pa sa ngayong yong transaction fees nila na umaabot ng 20+ percent. Mura pa rin yong UnionBank-->Coins.Ph-->BTC or other cryptos.

Sa lahat ng bank account ko, itong UnionBank lang ang hindi ako nakapunta ng banko dahil nag-apply ako online at pina-deliver ko yong card to my doorstep na walang bayad. Kaya masasabi ko talaga na hiyang ako sa kanila.

[iTradeChips]

My experience with Unionbank is very old tipong from 2008 to 2012 ang experience ko doon. During those years wala akong naging problema with the bank. I just simply changed to BDO kasi walang Unionbank sa lugar ko ngayon. But I was actually surprised to learn from this thread na medyo supportive ang bangko sa cryptocurrency, I mean yun ang assumption ng nakararami dito. But still I am hoping na many things will happen with Unionbank and its ventures into blockchain and cryptocurrency. I will keep an eye talaga.

[Theb]

So basically, makakapag-cash out na tayo from Unionbank to these remittance centers? Tama?
Converting to fiat: Crypto? -> UnionBank -> Remittance centers
Of course, we could just directly exchange it through Coins.ph and cash it out. 

This is the only real option bro, konting point of clarification lang mukhang misleading kasi yung article at mukhang na-highlight lang yung part ng Coins.ph na partner nila ng UnionBank kasi related sa crypto ito pero sa totoo lang hindi sila yung way para makapag cash-out pero channel lang sila para mag-transfer ng crypto to cash sa mga remittance center na ito, basically ang Coins.ph dito is not the main mode kung paano makukuha ng mga papadalahan yung pera nila kung hindi ang mga remittance centers mismo. Nabasa ko na din kasi minsan yung Remittance Centers FAQs nila kasi main bank ko UnionBank at ito yung nakasulat tungkol sa Coins.ph dito.

Siguro naman familiar tayo sa ginagawa ng DragonPay when it comes to processing out crypto payments sa mga e-commerce websites diba? Well ang Coins.ph is parang ganun sa isa sa mga remittance center nila which is ang Palawan, hindi ako sure exactly kung paano proseso dito pero sa tingin ko parang parehas lang kung mag-cacashout or magbabayad ka dadalihin ka sa isang external link for processing gaya ng ginagawa ng Dragonpay so kung crypto yung plano mong ipadala mareredirect ka sa Coins.ph at sa Palawan Express mo pwede mapadala yung pera mo.

[mk4]

Personally haven't tried UnionBank, pero I've heard on social media groups na UnionBank daw talaga ung pinaka crypto-friendly bank sa Pinas. If my memory serves me right, ito ung time in 2017 na may news and incidents about certain banks closing accounts na may crypto-related transactions, and ung top suggestion ng karamihan e UnionBank talaga.

[dothebeats]

I'd stick to coins.ph > Paymaya or Gcash, thank you.

Knowing sobrang magkalapit lang ang head office ng Unionbank pati ng coins.ph, it's really not impossible to see them extending their partnership and making it even better (?) for their customers. Nagiging matunog ang pangalan ni Unionbank dahil I think they are trying to gauge the crypto market here in the Philippines before making their move, and they are doing it through partnering with coins.ph. Hindi ko lang magets kung bakit kailangang magdagdag ng additional channels for cash out ngayong mabilis din naman yung existing cash out options ni coins.ph.

There is a possibility na si Unionbank ang magiging crypto-friendly bank nating mga Pilipino, and I wouldn't be surprised if nakadikit si coins.ph all through the way dahil so far nagiging maganda yung partnership na naestablish ng dalawa.

[cml2019]

I'm asking this too because I've already read several complaints about those "other banks" na bigla-bigla na 'lang isinasara yung accounts dahil kuno may connection sa "cryptocurrencies". 

Sa tingin ko ito yung maaaring pinaka-magandang maitutulong nitong partnership. Given na mas madaling mag cash-out, hindi naman din ito bago kasi most of the banks and remittance centers are available pero with some fees added.

With this partnership, I am looking forward for better banking experience in regards to crypto to fiat transactions or if we are allowed to open new accounts using cryptocurrency as "Source of Income".

[malcovi2]

Personally haven't tried UnionBank, pero I've heard on social media groups na UnionBank daw talaga ung pinaka crypto-friendly bank sa Pinas. If my memory serves me right, ito ung time in 2017 na may news and incidents about certain banks closing accounts na may crypto-related transactions, and ung top suggestion ng karamihan e UnionBank talaga.

hindi, Unionbank ang nag publicly announce na gagamitin nila ang blockchain tech sa kanilang system, hopefully alam din ng kanilang mga employees about crypto kahit yung basic stuff lang.

[JoMarrah Iarim Dan]

Also, anybody here actually tried using UnionBank?

Wala akong unionbank account pero mayroon akong kakilalang mayroong account. Nakakonekta nga ito sa coins.ph niya. Kapag gusto niyang magload, nagtatransfer lamang siya sa coins.ph from unionbank at napakabilis lamang ng transaction. Oo nakapagpadala na din siya ng pera sa probinsya gamit ang unionbank to coins.ph to Palawan and satisfied naman sa service.

[serjent05]

Also, anybody here actually tried using UnionBank?
Since from all other banks we have here in the Philippines, parang sila yung pinaka open-minded when it comes to blockchain tech and cryptocurrencies; safe kaya funds natin sa kanila?
I'm asking this too because I've already read several complaints about those "other banks" na bigla-bigla na 'lang isinasara yung accounts dahil kuno may connection sa "cryptocurrencies".  

I did use unionbank sa money transfer from coins.ph to bank.  Wala naman hassle at open talaga sila tungkol sa cryptocurrency  as reason sa pag-open ng account.  Wala ng maraming tanong basta ipasa lang mga requirement.  Though I have not tried using Unionbank to remittance centers kasi meron na namang coins.ph function na ganyan parang dagdag trabaho pa kung papadaainin sa Unionbank..

[bL4nkcode]

So far mag 1 year na ako UB user, its either coins to UB, gcash or paymaya yung flow php ko. Wala namang problema ever since.
Pero isa lang concern ko dyan, though di akin account, sa partner ko, is subrang slow ng CS nila, like 1 month before sila mag respond sa messenger or sa email nila like wtf.

[Hippocrypto]

Also, anybody here actually tried using UnionBank?

Wala akong unionbank account pero mayroon akong kakilalang mayroong account. Nakakonekta nga ito sa coins.ph niya. Kapag gusto niyang magload, nagtatransfer lamang siya sa coins.ph from unionbank at napakabilis lamang ng transaction. Oo nakapagpadala na din siya ng pera sa probinsya gamit ang unionbank to coins.ph to Palawan and satisfied naman sa service.

May adds ako na nakita sa isang lugar sa amin na may nakalagay na the only digital bank at may may branding ng unionbank. Tinataas na talaga nila ang cryptocurrency sa ating bansa, at talagang magandang senyales ito na may partnership na nagaganap sa dalawang panig. Kung mabilis at compatible ang mga transaction galing coins.ph patungo sa bangko, ay maliit ang tsansa na magkakaproblema tayo sa kanilang serbisyo.

[mk4]

Pero isa lang concern ko dyan, though di akin account, sa partner ko, is subrang slow ng CS nila, like 1 month before sila mag respond sa messenger or sa email nila like wtf.

Is this post or pre Covid? Kasi as far as I know skeleton crew parin ata ang mga banko ngayon kaya ito siguro rason kung bakit matagal magreply. Pero still, sobrang tagal naman ng 1 month.

[evilgreed]

Pero isa lang concern ko dyan, though di akin account, sa partner ko, is subrang slow ng CS nila, like 1 month before sila mag respond sa messenger or sa email nila like wtf.

Is this post or pre Covid? Kasi as far as I know skeleton crew parin ata ang mga banko ngayon kaya ito siguro rason kung bakit matagal magreply. Pero still, sobrang tagal naman ng 1 month.

           Sa totoo lang di ko pa naranasan gumamit ng UB in terms of withrawal, dito kasi samin hindi masyadong popular ang UB at mostly SB, CB at BDO ginagamit nila. Kung totoo man na 1 month sila bago magreply sa support maybe sa ngayon lang siguro dahil considering ang sitwasyon medyo mahirap din sa part ng mga office workers. Pero antagal naman nun kung totoong 1 month nga, kasi mostly 3 days minimum business days ang reply ng mga support.

[julerz12]

Sa lahat ng bank account ko, itong UnionBank lang ang hindi ako nakapunta ng banko dahil nag-apply ako online at pina-deliver ko yong card to my doorstep na walang bayad. Kaya masasabi ko talaga na hiyang ako sa kanila.

I've heard about this online applications ng mga banko before pero medyo skeptical pako mag-apply 'til now 'cause as far as I know, banks requires KYC diba? papaano process nun if online yung application?

[bisdak40]

Sa lahat ng bank account ko, itong UnionBank lang ang hindi ako nakapunta ng banko dahil nag-apply ako online at pina-deliver ko yong card to my doorstep na walang bayad. Kaya masasabi ko talaga na hiyang ako sa kanila.

I've heard about this online applications ng mga banko before pero medyo skeptical pako mag-apply 'til now 'cause as far as I know, banks requires KYC diba?

Yes, need nila ng KYC at kagaya lang din ng ibang crypto exchanges yong hinihingi nilang documents. Selfie at saka driver's license lang yong simubmit ko at nakapasa naman, pwede rin yong SSS id.

papaano process nun if online yung application?

Please see link below, dyan ako nag-apply. Filling up the form lang ginawa ko. Kung mag-fill up ka na kailangan maganda internet connection mo at ready na ang documents para tuloy-tuloy at hindi napuputol, baka kasi kulang pa yong documents mo.

https://play.google.com/store/apps/details?id=com.unionbankph.online&hl=en

Na-discuss na rin to dati rito, please see link below for more info.

https://bitcointalk.org/index.php?topic=5165643.msg52611679#msg52611679

[bL4nkcode]

Is this post or pre Covid? Kasi as far as I know skeleton crew parin ata ang mga banko ngayon kaya ito siguro rason kung bakit matagal magreply. Pero still, sobrang tagal naman ng 1 month.

Yep, around april, at di lang pala 1 month kase june na pala sila nag respond.

At kakatingin ko lang din may message pala ako though questions lang yung from email and messenger so far di pa sila nag reply ng matino puro automated response lang since march.

[Theb]

Sa tingin ko madami pa din meroong misconception about this one being related to crypto since after my post nakita ko na madami pa din na nag-assume na Coins.ph to Remittance center pa din yung transaction using crypto pero malinaw naman sa FAQs nila na payment gateway lang ang Coins.ph dito para sa Palawan Express. I don't know why they specifically used Coins.ph para sa pagiging channel nila dito for Palawan Express only at hindi nalang DragonPay para sa lahat pero sa tingin ko it has something to do about Coins.ph having a share since kilalang partner sila ng UnionBank. Mali din kasi yung article na binigay assuming the blockchain related itong news na ito kaya panget din na naniniwala tayo kaagad pag walang masyadong research na ginagawa.

[john1010]

Maganda talaga ang unionbank dahil open market sila di kagaya ng ibang bank na restricted ang mga 3rd party payment system like cryptocurrency, kaya nga malaki tiawala ko sa union, since the old days of Paypal, Payza, Perfectmoney etc. Gamit ko na yang si unionbank.