I was just amazed right now that I have an additional charges using my EON card using LFT here in oDesk. Yes, that's right...an additional hidden charge from the bank.
Let's see, I noticed this charge from last June up until now that I have a proof. They charge Php 50 on every transaction EON has with oDesk. Try not to say "I don't have that" right away since it was my initial reaction. Have you tried checking on the LFT amount that should go in into your EON account then check it if its the correct amount that came in?
I have already contacted UnionBank support for this. I told them that oDesk uses wire transfer in funds and you guys explicitly posted that there is "NO CHARGE" for wire transfers. So the representatives (more than one) told me that they have a special case with oDesk - yes, that's right - a "SPECIAL" case. They told me that the Php 50 charge is for the remittance charge that is specially for oDesk - up until now they didn't replied as to how come it became a "remittance."
So every time you will withdraw with your EON card/account thru LFT,
the charges would be:
$0.99 for oDesk fee
Php 50 for EON remittance charge
Php 10 withdrawal fee using UNION BANK ATM (Yes! they do charge Php10 for EON card holders only)
Just a heads up for anyone.
So...I would just like to ask....any Bank in mind here in the Philippines that charges less since EON is no longer a charge-free from oDesk.
If you want a proof of the EON's representative's official statement, I'll send you a screenshot.
Nov 14, 2013 05:37:42 PMEditedOct 30, 2014 10:41:10 AMbyFrancisco F
You're correct, the UnionBank P50 LFT fee doesn't appear in the new oDesk help center unlike the old oDesk knowledge base. But what makes it "hidden" in standard accounting terms is that it neither appears in the freelancer's Transaction History nor in his/her EON account statement. Unlike in a Paypal-EON transfer, the P50 charge (if transaction amount is P7,000 or below) is clearly shown in the freelancer's Paypal activity history.
Nov 15, 2013 11:14:36 AMEditedOct 30, 2014 10:41:13 AMbyNajie B
There is $0.99 charge in oDesk + 50php and P10 or probably P12 for withdrawing into a unionteller atm machine.. I withdraw my funds last Tuesday (this past week) at 1:30 am GMT+8.00 and to my surprised my funds were already there at Wednesday 7Pm..
more convenient. Now Paypal takes at least several days?
Nov 15, 2013 04:01:11 PMEditedOct 30, 2014 10:41:15 AMbyFrancisco F
[quote=Najie B.]Now Paypal takes at least several days?[/quote]
I do Paypal-to-EON transfers on Wednesdays at 8am local time and it hits on Thursdays before 6pm. I avoid the P50 charge because the amount is above P7T.
Nov 16, 2013 11:21:06 AMEditedOct 30, 2014 10:41:16 AMbyNajie B
So basically Wednesday morning is the best time to withdraw on Paypal to EON?
Via LFT I've never had some delays about it. Like what I've said it takes only one day for me to receive my funds. But in Paypal to EON.. I withdraw on Nov.13. and yet it is not reflecting (despite of the completed status. According to Paypal. The meaning of the completed status means they starting to process it.) into my account maybe on Monday? Because Saturdays and Sundays are not counted.
Thanks for the response. May I ask if what particular account name is the BPI account your using? They have tons of account types and to my dismay their tellers doesn't even know the difference of each one of them.
Anyway, I'm not new to oDesk. Way back 2011, there was no Php50 fee when you transfer your funds from oDesk to EON (this one I can assure you since I religously check my withdrawal amount here in oDesk and compare it to the amount in my EON which matches.
According from the online support of UnionBank, they have just recently implemented these charges around mid 2012.
Dec 17, 2013 09:48:00 AMEditedOct 30, 2014 11:13:56 AMbyShirelyvi G
I talked to one of the Union bank rep and they said that they are not the one who's billing us the P50 fee. What odesk sent to them were the one they posted into our account. They agree about the withdrawal fee of P10 but not the remittance charges, besides they are not considering the funds from odesk as international remittance after all. So who really took off the 50 pesos from our money Odesk??????? Can you clarify this, I will soon send you the email from Union clarifying their side and eagerly presented that they did not get even a cent from our account!!! Clarify this too coz this is too much if you Odesk are getting a certain amount still. Odesk, you had an issue with your system before in relation with the account payouts, I suggest you take a look it again, coz this time it is not anymore tolerable!!(this is my personal experience)
I have an official email from Unionbank plus a facebook Unionbank reply stating that they placed "ALL" of transactions from oDesk into their "remittance category" and that is the reason why we have Php50.00 charges.
Also..if you log-in to your EON online, you would notice that there is a Php50 charge in your account. Lets say you transferred 10k to you EON card then it will reflect that ther is a 10k deposit and the next entry is a deduction of Php50.
I don't believe that oDesk is the one responsible for this since they do not hold any powers to do any kind of deduction in our EON card, only Union Bank can do this.
The person you have talk with washed his hands so that he/she would not receive your anger and frustration - typical with average Filipino bankers (putting the blame to someone else).
To be specific...try accessing your bank statement be it online or oevr the counter - you will see a UnionBank remittance charge there of Php 50.
Dec 18, 2013 08:26:59 AMEditedOct 30, 2014 11:13:59 AMbyFrancisco F
[quote=Christopher M.]I have an official email from Unionbank plus a facebook Unionbank reply stating that they placed "ALL" of transactions from oDesk into their "remittance category" and that is the reason why we have Php50.00 charges.[/quote]
Both LFTs and Paypal withdrawals to EON appear as 'INREM VIA PCHC' which means 'Inward Remittance Via Philippine Clearing House Corporation' transactions. But LFTs are charged P50 while Paypal withdrawals don't have such charge.
My conclusion: UnionBank charges the P50 for LFTs but exempts Paypal withdrawals.
Could be a possibility...but they did also indicate that Paypal is the same as wire transfer like oDesk.
Anyway...I find it quite a pain having multiple deductions/charges with EON right now so I'm trying to switch to BPI since they don't have these kinds of charges.