What is Eon?

i think Unionbank EON card is just like a Visa Card, a debit card but not a credit card. I guess, Unionbank charges us an annual fee of 350pesos. it functions as a debit card that you can use to pay your bills. if you want to apply for Paypal, it can be used as verification card for your account.

Eon card is issued by Unionbank. It is a debit card in a form of ATM. It has no required maintaining balance, all you have to do is pay the P350 annual membership fee. If you have money on your EON, you can withdraw the money using ATM (Machines). Other ways to validate your paypal account is by using your credit card, VISA or Mastercard.

More specifically it is a debit card. It is the exact opposite of a credit card where in a credit card you can use this to buy things without any fund from it while in a debit card it will only be useful when you have funds in it. Both charges annual fees and some other fees when you have to withdraw or use it. It is not considered a savings account because it does not earn any interest from the bank. They only hold your cash with them for as long as you can. Unlike the regular savings ATMs, you do not need to maintain a very high maintaining balance I think you could even withdraw everything from your Debit Card.

Thanks dear for adding a new word into my vocabulary. I was not know to EON, before this.