Trusted Pawnshops in the Philippines
People have always looked for creative ways to get a quick buck. Most people simply ask their friends, but there will come a time when you will need to sacrifice something of value for you to get the money you need.
Pawnshops have always been relied upon for such a crisis. Here’s Primer’s list of the 5 most trusted pawnshops in the Philippines, in no particular order:
1. Tambunting Pawnshop
A TRUSTED NAME FOR DECADES. (Image grabbed from Tambunting Pawnshop Facebook page)
Tambunting Pawnshop is the country’s oldest pawnshop. First opened in 1906, they’ve served the Filipino for over 100 years. The pawnshop accepts jewelry and gadgets such as mobile phones, tablets, cameras, laptops, iPods, watches, etc. They also provide other services like money exchange, remittance, airline ticketing, insurance, electronic loading, and banking.
2. M Lhuillier
THE CLASSIC DIAMOND LOGO. M Lhuillier is one of the country’s largest pawnshops. (Image grabbed from www.mlhuillier.com)
Known recently for its Kwarta Padala, M Lhuillier is pretty much the go-to for most Filipinos looking to pawn off any valuables for cash. Nowadays, the pawnshop is more than just a simple place to pawn off your jewelry; they’ve expanded their services to include remittance, insurance, quick cash loans, money changing, and even food products.
3. Cebuana Lhuillier
THE “SON” OF M LHUILLIER. Philip Jones Lhuillier, son of M Lhuillier founder Henry, started his own pawnshop around the 1980s. (Image grabbed from www.cebuanalhuillier.com)
Cebuana Lhuillier is often confused with M Lhuillier, but has always been a trusted name by Filipinos when they are in a pinch. Apart from pawning services, they have also expanded to include remittance, microfinance (insurance and loans), banking, and a rewards program.
4. Palawan Pawnshop
A RISING YET ALREADY TRUSTED NAME. (Image grabbed from www.palawanpawnshop.com)
As the name suggests, Palawan Pawnshop started in Palawan in the mid-1980s (Puerto Princesa City to be exact). Like most pawnshops, they started with pawn brokering but later expanded to include money remittance, currency exchange, e-loading, bills payment, and accident insurance.
5. PawnHero Pawnshop
Image grabbed from PawnHero
PawnHero.ph is an online pawnshop where anyone can submit a pawn request anytime, anywhere. Unlike brick-and-mortar pawnshops, PawnHero offers a lower, fixed interest rate (at 2.99%) which is up to half of what traditional pawnshops in the Philippines offer. They also guarantee zero service charges and no hidden costs or penalty fees for late payment or loan renewals.
Pawnhero.ph also offers a higher appraisal value for a wider variety of items than currently accepted by traditional pawnshops. This includes musical instruments, jewelry, gadgets, luxury goods, equipment, and much more. You can get this app on Google Play for free.
6. Villarica Pawnshop
Image grabbed from Villarica
Founded by Paz R. Villarica on 1954, the first branch of Villarica Pawnshop opened in Quiapo, Manila. Today, Villarica pawnshop has grown to a trusted pawnshop for 26 years, with about 600 branches all over the Philippines.
Source: affordableCebu
