Expiring EON UnionBank VISA Card

It’s been about 3 years since I started using EON card for my online accounts and transactions. The expiry date on the card is set this month, December 2008. So as not to have any problems with my transactions, I requested that the card be replaced in time for the renewal. This is what I thought it is supposed to be. Once the EON card expiry date is reached, the EON card will be eventually replaced free of charge.

Unfortunately, I was advised that the I need to pay a replacement fee of P150.00 in addition to the annual/renewal fee of P350.00. I was told that the EON Card is given free of charge when a new account is opened. In my confused mind, what is the difference between a new account wherein a payment of P350.00 is paid and that of requesting a replacement for the expiring ecard when it is about to renew but needs additional payment?

According to the information desk, the date embossed in the ecard is just a protocol. The date is set in anticipation that after 2 to 3 years, the card will be unusable due to wear and tear. So? If the card is unusable and has reached its expiry date, isn’t it supposed to be replaced free of charge?

Again, their answer is no. The bank is charging an additional fee aside from the annual fee because, according to them, the EON account is a zero-maintaining balance. So? Isn’t this the reason why an annual fee of P350.00 is being charge?

Here’s another thing. I was told I can still use the ecard even it is past the expiry date as long as it is still usable. It was even compared to a medicine or food that even if it is past the expiration date, it doesn’t mean it can not be used anymore. Is this supposed to be the advice given to a client? If I am to pay using my expired EON card, and you are the recipient, would you accept the payment?

I also discovered another thing. EON account can not be closed so easily over the counter unless you are again willing to pay. For ordinary savings accounts, the depositor will just go to the bank, withdraw all the money and inform the bank that the account will be closed. For EON account, in order to zero balance your account, you need to pay the over the counter withdrawal fee of P100.00.

To avoid the payment of withdrawal fee, the cashier advised that instead of withdrawing, I would rather deposit an amount just enough for the whole amount to be withdrawn at an ATM machine. When the account does not have any balance, the bank can not charge the annual fee and will eventually close the account.

Every peso counts especially with our current economic situation. If you really need to save, here are some tips to save on your EON fees.

1. If the expiry date is met, instead of replacing your ecard, apply for a new account. You will be filling-up application forms and submit requirements again but it will save you P150.00.
2. If you need to zero balance your account, do not withdraw over the counter. Transfer the remaining balance to someone’s else account, use it for purchasing goods online or deposit just enough amount for ATM withdrawal. This will save you P100.00
3. Since most of us uses EON for Paypal, it will help you also save on Paypal fees if you withdraw Paypal in bulk. This will save you on Paypal fees.