Union Bank of the Philippines is a partnership among the Aboitiz Group, Insular Life and Social Security System of the Philippines. It started operations in 1981 and became a commercial bank by January 19, 1982. In July 1992, UnionBank was granted the license to operate as a universal bank.
In 2002 & 2003, the bank was recognized as among Asia’s best companies by Euromoney and Finance Asia. UnionBank is also the country’s only bank to make it to the list of the world’s 25 soundest banks for four consecutive years by The Banker of London.
By applying a Union Bank account, you can bank in different ways most accessible and convenient for you. You can bank by going to the your bank directly, through ATM machine, mobile banking or online banking.
Union Bank offers products and services for personal use, business or corporate. The bank services includes savings, checking, time deposit, credit card, remittance services and investment funds.
Union Bank also tie-up with PayPal so that you can withdraw money from your PayPal account to your Union Bank account. In other way, you can fund your PayPal account with money through Union Bank.
If you are looking on how to open an account at Union Bank Philippines, you may follow the guide below.
1. Prepare all the necessary requirements which you can see below.
1.1 Two 1×1 photo ID
1.2 Billing statement such as Meralco, Maynilad or Manila Water bill, credit card bill, phone bill and bank statement of account
1.3 Valid and recent ID such as PRC ID, SSS ID, GSIS ID, Driver’s License, Postal ID, Passport or any ID issued by government agencies
2. Choose and visit the Union Bank branch of your choice. Select the branch easily accessible and most convenient for you to go.
3. Upon arriving at the bank, proceed directly to the new account desk. Tell the bank employee you want to open a new bank account.
4. Complete all application forms and signature cards that will be given to you.
5. Pass all the requirements, application forms, signature cards and the initial deposit for your new account. Normally, the initial deposit ranges from P5oo-P10,000 depending on the type of your savings or checking account.
6. When application is completed, claim your ATM card or passbook after 4-5 banking days to the branch where you open a bank account.
Basically, opening a new bank account is not hard once you are prepared and you know the requirements and procedures. Union Bank can be one goo choice to open a new bank account since it has may services you can’t found in other Philippine banks.