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How to Buy Crypto with Union Bank of the Philippines

Last updated on November 12, 2023

Quick Summary: While Union Bank of the Philippines does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of Philippines cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.


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Union Bank of the Philippines Homepage

As mentioned in my quick summary, like most Philippines banks, Union Bank of the Philippines doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto exchange and comes with regulations and extra work for the banks.

Thankfully there are many cryptocurrency exchanges to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Next you’ll want to sign up to an exchange (for this short guide I’ll use eToro as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with Union Bank

Let’s get started! Just follow our 4 quick steps.

1. Pick a cryptocurrency trading platform

As mentioned above, I’ll be using eToro for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With eToro

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For eToro there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy cryptocurrency

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Union Bank of the Philippines.

Buy Crypto With eToro

About Union Bank of the Philippines

It is the Union Bank of the Philippines, Inc. More often referred to as UnionBank is among the most universal banks located in the Philippines and the ninth-largest bank in the nation in terms of assets.

UnionBank is a joint venture comprised of three companies: the Aboitiz Group, Insular Life and Social Security System. It began operations in 1981, before becoming commercially-owned on the 19th of January in 1982. The bank was established in July of 1992. UnionBank received the permission to be an universal bank.

The bank was initially incorporated under the name “Union Savings and Mortgage Bank” on the 16th of August 1968. After the initial public offer, the shares of the bank were listed on the Philippine Stock Exchange (PSE) on June 29, 1992.

It was 1993 when UnionBank joined with International Corporate Bank (“Interbank”) and, in 2006, a merge together with International Exchange Bank (“iBank”) was announced (after initially being rejected the merger by iBank).

The year 2013 was the time that UnionBank bought City Savings Bank which made City Savings Bank a 100 percent UnionBank subsidiary, and combining Aboitiz group’s banking operations.

On the 23rd of December 2021 UnionBank bought Citibank Philippines from Citigroup for P55 billion. With UnionBank as the only surviving company from the merger The transaction is expected to be completed in the second quarter of 2022.