Topic: UnionBank and Coins.ph - page 2. (Read 425 times)

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.

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".

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.

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.

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.

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.

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 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.


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.

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.

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.

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.

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).

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".