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.
