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Palawan Pawnshop

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About Palawan Pawnshop

Mr. and Mrs. Bobby Castro founded Palawan Pawnshop, a Filipino pawnshop, in 1985. It has since expanded into a multipurpose business hub with a large number of workers offering a wide range of products and services.

A pawnbroker, often known as a pawnshop, is a company that makes loans to consumers by using their personal belongings as security. Customers may bring jewels, musical instruments, televisions, gold, watches, cameras, or laptops.

Palawan Pawnshop began as a pawnbroker, but it has expanded its operations to include international money transmission, foreign currency exchange, e-loading, bill payments, and accident insurance, which is now offered in all of their shops around the country.

Pros and cons

The company offers a range of services, but its also important to know all its advantages and disadvantages before using them. Here are some of its pros and cons:

Pros

  • Their money transfer service has one of the most competitive exchange rates in the country.
  • They provide excellent customer service and offer a welcoming atmosphere.
  • They provide dual confirmation via text messaging.
  • Pawning doesn't need a lot of paperwork.
  • Their service fees are quite inexpensive.
  • They have a huge international network.
  • If you are dissatisfied with their services or they are unable to satisfy your requirements, they will provide a complete refund.

Cons

  • Their money remittance and some other services are only available offline.
  • They only accept gold jewelry items for pawning.
  • Their offered services are capped mostly at just ₱50,000.

Products

They offer various products and services, from insurance to pawn-breaking, bill payment, electronic reloading, etc. Here are some of its popular products with a detailed description.

Money transfer

The Palawan Express Money Transfer is one of the Philippines' largest and quickest domestic money transfer hubs, with one of the most reasonable prices at as little as ₱2.00. Because over 3,300 Palawan Pawnshop branches and over 6,500 authorized agents are dedicated to serving your local and international remittance requirements, your transfer will arrive anywhere in the country.

Pawning

With over 3,300 branches since 1985, they have remained one of the country's most trusted and top pawnshops. With four distinct interest rates, they continue to provide one of the finest evaluations and one of the lowest prices for their pawning services. However, Palawan pawn dealers only take genuine gold jewelry in all of their outlets around the country.

International remittance

With Palawan express international money transfer service, you can quickly and easily send money to people overseas. International remittance services make it easy to receive and send money overseas, wherever you are. They offer international money transfer services that are reliable, swift, and hassle-free, anywhere and at any time.

Suki card

Suki Card, a loyalty card for Palawan Pawnshop customers, offers discounts on pawn interest and remittance fees, plus rebates for every pawn transaction. You can also collect points with every transaction in any Palawan Pawnshop branch nationwide to redeem for limited promotions or as a payment for at least 50 points for remittance fees.

Money changer

The Palawan Express money transfer service also offers foreign currency exchange in addition to their pawning and remittance transactions so that you can find one of the best and most current money changer rates at their branches.

e-Loading

Palawan Pawnshop provides e-loading services for mobile, Internet, cable television, and online game subscriptions nationwide. You can load up e-transactions in all their branches with no convenience fee or additional charges.

POS withdrawal

Palawan Pawnshop also offers Suki Card customers the ability to withdraw their remitted cash, making the transaction process among the easiest and most convenient in the Philippines. Since 2018, Palawan Pawnshop has also offered cash collection and reloading services to their corporate clients in Mindanao. These advances are made possible by their point-of-sale (POS) terminals, which are available at selected Palawan Express money transfer branches and locations nationwide.

ProtekTODO insurance

Palawan Pawnshop's ProtekTODO accident insurance service, launched in October 2014, provides Filipinos affected by unexpected circumstances with flexible and very affordable insurance options.

Padala to bank account

With its Padala to bank account service, Palawan Pawnshop can provide its customers with convenient money transfer and remittance services. No more waiting in line to make a bank deposit. To deposit money directly into your bank account, visit any Palawan Pawnshop branch nearest you.

Bills payment

Palawan Pawnshop also provides various bill payment services for personal and utility bills such as electricity, water, telephone, and cable TV, depending on the service or product provider's coverage area and location.

Palawan Pawnshop

FAQ

What is Palawan Pawnshop?

Palawan Pawnshop is a pawnshop and non-bank financial institution in the Philippines that offers services like pawn-breaking, money remittance, insurance, bill payment, remit to account, corporate payout, collections, and electronic reloading.

Who is the owner of the Palawan Pawnshop?

Bobby L. Castro owns it.

How does Palawan Pawn work?

Visit the Palawan Pawnshop branch where you pawn your item, and then sign the back of the pawn ticket at the line marked Pawner. Then, before leaving, present the signed pawn ticket and the payment for the amount due on the redemption of the item.

What are the requirements for Palawan Pawnshop money remittance services?

You must have a valid mobile phone number, a valid email address, and at least one government-issued ID. A list of valid IDs can be found in the FAQ section of the Palawan Pawnshop website.

What are the minimum and maximum loan amounts?

The minimum loan amount is ₱1,000, and the maximum is ₱50,000.

How to pawn?

Take your gold item to the nearest Palawan Pawnshop branch. The pawning value depends on your gold item's quality, carat, and weight. Their branch associate will assist you, and don't forget that you must go with your valid ID.

Does Palawan Pawnshop accept foreign coins?

Palawan pawnshops do not accept or exchange coins; they only convert some foreign currency bills to Philippine pesos.

How much is the Padala to bank account fee?

You have to pay ₱100 for each Padala to bank account transaction. There is only a maximum of ₱50,000 per transaction; if it exceeds this, it will be another transaction.

Can I get ProtekTODO insurance for my family members?

Yes. ProtekTODO insurance can cover your family, but be sure that the information entered on the enrollment form is correct.

What maximum amount can be withdrawn using the POS withdrawal service?

You can withdraw up to ₱5,000 per transaction.

Financial products

Palawan Pawnshop
Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
1 000 - 50 000 ₱
Rate
i

Effective interest rate on the product

0.08% - 0.11% per day
Term
i

Loan term for the financial product

10 - 120 days

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Palawan Pawnshop loan calculator

Calculate loan payments at Palawan Pawnshop. Loans calculator will allow you to calculate an approximate payment schedule for the loan.

Palawan Pawnshop calculator
Interest rates are given in accordance with the rates of the Palawan Pawnshop in Manila as of 04.12.2022
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