(It’s funny when you search for some info and find the answer from your own tweet from months ago! Amazing. )
Q: What does INREM VIA PCHC Transaction on Unionbank mean?
A: INREM means “Inward Remittance” and PCHC is “Philippine Clearing House Corporation.” PCHC processes Paypal withdrawal to Unionbank EON.
I have received a lot of inquiries recently about this so I am expanding this article. For those who have been messaging me regarding this term INREM VIA PCHC, here is some more information.
– I assume that you have a Unionbank account or Unionbank EON account.
– I assume that you have a PAYPAL account that you have registered and used online. This account is also connected with your Unionbank account for withdrawals.
– I also assume that you are working on Upwork or other online working sites.
From transferwise.com, the term “inward remittance” can simply imply that money was transferred into an account either domestically or internationally. When you hear the term foreign inward remittance, then this is referring to money sent into an account by someone from abroad.
If you see the INREM VIA PCHC on your account it simply means that you withdrew FROM your Paypal account TO your Unionbank account.
The term IREM VIA PCHC means “Inward Remittance via the Philippine Clearing House Corporation” and it means GOOD NEWS. It simply means that YOUR MONEY IS ON THE WAY.