UnionBank cardholders can make larger purchases more manageable through the PayEasy program, which offers 0% interest installments on qualifying transactions at participating merchants. This facility helps spread out payments over time without extra costs, provided the card remains in good standing.
Overview of PayEasy
PayEasy allows eligible UnionBank credit cardholders to convert single-receipt purchases into equal monthly installments at 0% interest. It applies to cards issued starting July 1, 2023, and is available for transactions at participating merchants meeting the minimum amount. Approval depends on the available credit limit at the time of purchase and conversion. By using this program, cardholders agree to the PayEasy terms, the standard UnionBank credit card terms, and relevant laws. Full details are at https://www.unionbankph.com/cards-tc and https://www.unionbankph.com/cards-fees.
Eligibility Requirements
- UnionBank credit cards issued locally starting July 1, 2023.
- Cards must be active and in good credit standing.
- Single-receipt purchases of at least PHP 3,000 (or as set by UnionBank and merchants).
- Subject to approval based on available relationship limit, account credit limit, or spend limit.
How to Avail PayEasy
- Make a single-receipt purchase at a participating merchant using your UnionBank credit card.
- Inform the merchant you want to use PayEasy and select the desired term (number of months).
- The merchant swipes the card for the full amount; the charge slip shows the installment details if approved.
- After the merchant settles the transaction (Conversion Date), it converts to an installment transaction.
- The principal amount divides equally into monthly installments due (MID), billed monthly to your statement of account.
The MID is calculated as:
Principal Amount / Term
Where Term is the chosen number of months.
For example, with a principal amount of PHP 15,000 over 3 months:
| Month | Monthly Installment Due | Unbilled Installment Amount |
|---|---|---|
| 1 | PHP 5,000.00 | PHP 10,000.00 |
| 2 | PHP 5,000.00 | PHP 5,000.00 |
| 3 | PHP 5,000.00 | PHP 0 |
Billed as [Merchant Name (001:00x)] on statements.
Billing and Minimum Payments
- 1% of the billed MID is included in the minimum amount due (MAD).
- 1% of the unbilled principal is also part of the MAD calculation until the term ends.
- Learn more about MAD at https://www.unionbankph.com/cards-tc.
- If the account is past due for 60 days or more, the installment cancels, and the remaining balance is billed in full with prevailing monthly interest (see rates at https://www.unionbankph.com/cards-fees).
- Payments apply per UnionBank's priority order; view hierarchy at https://www.unionbankph.com/cards-tc.
- Rewards points or miles earned on the original transaction are deducted upon conversion and credited back monthly based on the MID.
- Overlimit accounts require payment of the overlimit amount plus MAD.
- Paying only MAD extends payoff beyond the term.
Cancellation and Refunds
To cancel before the term ends, call the customer service center at (632) 8841-8600 (Metro Manila) or 1-800-1888-2277 (outside). Pay the unpaid principal plus a PHP 300 cancellation fee for eligible cards like UnionBank Reserve Visa Infinite, Miles+ Visa Signature, and others listed in the terms.
For promotions with premium items, cancellation may require paying the full value of the item.
UnionBank pays merchants upfront, so if a merchant stops operating, you remain liable for installments. Seek recourse directly from the merchant.
Refunds follow the merchant's process; they credit your card but do not alter the installment schedule—monthly dues continue.
Other Important Terms
UnionBank may adjust charges due to legal or economic changes, with 60 days notice via various channels. These terms integrate with credit card terms, prevailing in case of conflict.
Data privacy follows UnionBank's statement at https://www.unionbankph.com/privacy-security. Information may be shared within the Aboitiz Group for cross-selling, compliance, and related purposes.
Governed by Philippine laws, disputes go to Pasig City courts at UnionBank's option. Both parties commit to anti-money laundering standards.
For questions, contact:
- Phone: +63 2 8841 8600
- UnionBank Online App: Mailbox > Support > Create New Ticket
- Facebook Messenger: m.me/unionbankph
- X (formerly Twitter): x.com/unionbankph
Responses via social media take 24-48 hours. Provide necessary information for investigations; UnionBank may share details with third parties to resolve concerns.
UnionBank is regulated by the Bangko Sentral ng Pilipinas (https://www.bsp.gov.ph).