arrow-menu

MB Aguirre Pawnshop Review

One of the many go-to solutions to find instant cash is availing of financial services from trusted pawnshops through pawning. In the Philippines, unbanked Filipinos likely resort to pawning to apply for a loan, giving them easy access to cash without worrying about credit scores or too many requirements.

This brand review will explore the many financial products MB Aguirre Pawnshops offers, such as pawning, cash remittance service, and money exchange, to name a few, including the benefits of choosing them.

Read more

Written by: Aunt Piggyy

Verified by:

Author

MB Aguiree - logo

Loan Amount

Will depend on the appraisal value of item(s) pawned
4/5
4/5

Piggyy Rating

MB Aguirre Pawnshop

Loan Term

maximum of 4 months

Est. APR

% 3 per month

Loan Amount

Will depend on the appraisal value of item(s) pawned
What can be pawned
  • Jewelry
  • Cellphone
  • Laptops
  • Watches

Company Information

 

MB Aguirre Pawnshop was established in 1992 to provide integrity and transparency in all customer transactions. 

 

They provide a wide variety of financial services such as pawning, FOREX or foreign exchange, bills payment, and cash remittances that cater to the needs of Filipinos to send and receive instant cash locally or internationally.

 

MB Aguirre Pawnshop continues to strengthen and expand its reliable service with, so far, 50 outlets spread across the country’s capital region. It performs as one of the top pawnshops in the country and provides Filipinos a short and wide route towards a secured financial resource.

 

Its main branch is at B107 G/F Plaza Dela Rosa Bldg, Manalac Ave. Brgy Bagong Tanyag, Taguig City.

 

Customers can raise all concerns involving MB Aguirre Pawnshop’s financial services via email at [email protected] or through the official Facebook account. They can also call via mobile phone at 0918 927 5571 and 0933 857 4802 or landline at (02) 8504617, (02) 8094266, or (02) 8093166. 

 

The pawnshop also accepts inquiries via Facebook Messenger chat box on their official website.

 

Products and Services Offered

 

Pawning

This financial service allows customers to deposit personal or valuable items as collateral in exchange for instant cash. As a secured loan, the pawner can borrow cash equivalent to the appraised value of the collateral and ensure to repay the loan upon maturity date with interest. 

 

In MB Aguirre Pawnshop, interest rates are competitive, and the pawners enjoy the highest appraisal rate for the item they wish to pawn. The pawnshop also ensures its customers will experience the exclusive benefits of pawning by giving them discounts on their special days. 

 

You will receive a 0.5% discount if you renew the pawned item during your birth month. Expect to receive an exclusive text message from MB Aguirre Pawnshop on your birth month, which you can present together with your pawn ticket and an accomplished accommodation slip to claim your discount at their nearest branch.

 

MB Aguirre follows the regulations set by the Bangko Sentral ng Pilipinas and Anti-Money Laundering Act (AMLA) to ensure that all transactions are legal and compliant. 

 

Service Feature

Interest Rate: 3% per month

 

Money Exchange

Foreign Money Exchange or Money Exchange refers to another financial service of MB Aguirre Pawnshop that converts foreign currency bills to Philippine Peso. To date, the pawn shop buys and sells 19 currencies from different countries, such as the following:

  1. US Dollars (USD)
  2. Euro (EUR)
  3. Japanese Yen (JPY)
  4. Australian Dollar (AUD)
  5. Canadian Dollar (CAD)
  6. British Pound (GBP)
  7. Hong Kong Dollar (HKD)
  8. Swiss Franc (CHF)
  9. Korean Won (KRW)
  10. Saudi Riyal (SAR)
  11. Brunei Dollar (BND)
  12. Singapore Dollar (SGD)
  13. Thai Baht (THB)
  14. New Taiwan Dollar (TWD)
  15. United Arab Emirates Dirham (AED)
  16. Chinese Yuan (CNY)
  17. Indonesian Rupiah (IDR)
  18. Malaysian Ringgit (MYR)
  19. New Zealand Dollar (NZD)

 

The exchange rate on each foreign currency depends on the real-time rates at the time of money exchange. It means that for every foreign bill you would exchange for Philippine pesos, the total amount will depend on the time you made your transaction as the rates keep changing over time. It is better to contact the preferred branch to get the exact and latest exchange rates for your foreign currency before you drop by.

 

Cash Remittance

Another financial service that works to the advantage of many Filipinos is Cash Remittance, as it allows individuals to send or receive money from within the country or even internationally. MB Aguirre Pawnshop is in partnership with Western Union Money Transfer for this service which is why you can transfer or receive cash from anyone across any region in the country or abroad. 

 

And because it is Western Union, remitting money is possible in 550,000 locations worldwide. 

 

Bills Payment

Paying your bills could be another hassle-free transaction through MB Aguirre pawnshop’s financial service in partnership with True Money. This is because you can purchase a prepaid load or settle utility bills and other payments via True Money. This simple go-to bills payment service will work for your convenience, from paying your internet or cable monthly subscription to topping up your prepaid plan in Smart, Globe, and many more. It is also made accessible in the pawnshop’s 50 branches across Metro Manila. 

pros

Pros

  • Provides a simple pawning transaction with no required advance interest.
  • Offers competitive interest rate for pawning.
  • Know Your Customer (KYC) forms are made available online.
  • Discounts are given for the renewal of pawned items.
cons

Cons

  • The outlets are limited and can only be found across the Greater Manila Area, such as Metro Manila, Cavite, and Laguna.

Why Choose MB Aguirre Pawnshop?

 

Convenient Service Transactions

Pawning, exchanging foreign bills, and paying for your bills are now made easier with the convenient service transactions that MB Aguirre Pawnshop provides its customers. In fact, pawning in the pawn shop works by filling out the KYC form, depositing your item, and claiming your cash. Paying your bills, however, can be done by filling out the KYC form and giving the exact amount due to settle your bills. 

 

Meanwhile, money exchange can be availed by likewise filling out the KYC form and proceeding with the money exchange. Customers are better accommodated because they can accomplish these KYC forms anywhere through the provided form on the pawn shop’s official website. This means customers will no longer consume more time and stand in long lines just to get a form to do their transaction, as the form for any type of service can be easily filled out online.

 

Competitive Interest Rate for Pawning

The interest rate for MB Aguirre Pawnshop’s pawning service falls to 3%, and it is attractive compared to other pawn shops with the same service offer. This is beneficial for potential and existing customers because interest rates are what borrowers consider when applying for a loan, regardless of whether it is secured.

 

Accessible KYC Form

Before availing of any financial service, it is common for pawnshops to ask for the customers’ personal information to record the data of their transactions. However, the customers often need to ask for such forms from the branch, which sometimes takes a while. Fortunately, the form is already available on the website.

 

Enjoyable Discounts for Pawn Renewal

Unlike other traditional pawn shops, MB Aguirre Pawnshop provides a chance to renew your pawned item with a considerate discount. If you wish to continue pawning your valuable item and your renewal falls in your birth month, you may enjoy a 0.5% discount. 

 

MB Aguirre Pawnshop will send you a text message during your birth month confirming that you are eligible to claim the discount. You just have to visit the branch where your item was pawned and present the text message with your pawning ticket number. After that, you must fill out their accommodation slip and wait for the pawnshop’s personnel to process the discount.

 

How to Sign Up

 

Availing of the financial services of MB Aguirre Pawnshop only takes two straightforward options: in-person or a mix of online and in-person transactions, and the rest of the processes completed at the branch.

 

The following are the steps that will best guide you to experience the financial services of MB Aguirre Pawnshop:

 

Pawning Application

 

Branch Application

1

Directly visit the nearest MB Aguirre Pawnshop branch and bring at least one (1) valid government-issued ID with the item you would like to pawn.

2

Hand your valuable item to the branch’s personnel and let them determine the appraisal value for the item.

3

Fill out the KYC form with your personal information.

4

If you agree with the appraisal deal, sign the pawn agreement.

5

Claim your cash and keep the pawn ticket.

Online & Branch Application

1
MB Aguirre 3

Visit the official website of MB Aguirre Pawnshop and select “Forms”

2
MB Aguirre 1
3
MB Aguirre 2
4

Choose and fill out the application form appropriate for your transaction.

5

Head to the nearest MB Aguirre Pawnshop branch and deposit the item you wish to pawn.

6

Sign on the pawn agreement if you agree with the appraisal deal.

7

Claim your cash and keep your pawn ticket.

Pawning Redemption

1

Visit the MB Aguirre Pawnshop branch, where you pawned your item and your pawn ticket.

2

Present your pawn ticket and let the branch associate compute the redemption fees of your pawned item. These include the principal loan amount you borrowed, the interest fee, and other charges applicable to your loan.

3

Redeem your pawned item from the vault custodian marked as released, untouched, and sealed.

Money Exchange

To exchange your accepted foreign currency with a peso bill, you may do the following steps:

1

Call MB Aguirre Pawnshop to get the latest foreign exchange rates.

2

Fill out the KYC form provided on the official website of MB Aguirre Pawnshop or directly visit their nearest branch to request and fill out the form.

3

Present at least one (1) valid ID and give your foreign bill. The branch associate will verify your details and process the transaction.

4

Claim and count the Philippine peso bill.

Cash Remittance

Transferring or receiving cash is made possible through MB Aguirre Pawnshop. The steps to do this service are as follows:

 

For Cash Sender

1

Fill out the KYC form online through the provided form on MB Aguirre Pawnshop’s official website. Otherwise, directly visit the branch nearby and ask for a form to fill out.

2

Present at least one (1) valid ID and give the exact amount of cash you would like to transfer, including the service charge.

3

Receive your transaction receipt and inform the recipient about the transaction number to claim the cash.

For Cash Receiver

1

Visit the nearest MB Aguirre Pawnshop branch.

2

Fill out the recipient form and present it to branch personnel with your valid ID.

3

Claim and count your cash.

Bills Payment

1

Visit the nearest MB Aguirre Pawnshop branch.

2

Provide the exact amount due to pay your bill.

3

Receive and keep your receipt.

Frequently asked questions

Where can I find the nearest MB Aguirre Pawnshop?

You can visit the official website of MB Aguirre Pawnshop and select “Location” to check whether or not there is a nearby outlet in your area. You may also try to contact their personnel through their email, phone no., landline, or official Facebook messenger to ask about the nearest branch where you can accomplish your transaction.

What are MB Aguirre pawnshops opening hours?

The opening hours may vary in branches, but in general, most pawnshops are open from 8:00 am to 5:00 pm, while other branches operate until 5:30 pm from Monday to Sunday. It’s best to call your nearest branch and ask for the opening hours.

How much is the interest rate of MB Aguirre Pawnshop?

When pawning your valuable item, you can get as low as a 3% interest rate which is comparatively lower than what other pawn shops offer. A competitive rate still allows you to get a high appraisal value.

What is the Philippine Peso equivalent of my foreign currencies?

There are 19 foreign currencies you can exchange with the Philippine peso, but they all vary depending on the foreign currency exchange rates on the day you process your transaction. This is because the rates keep on changing every day and every time. Thus, it is better to verify the exchange rates for your specific foreign currency by calling any MB Aguirre Pawnshop branch personnel.

Can I get a discount for renewing my pawned item?

Yes. If you wish to renew your pawned item during your birth month, you may do so with 0.5% off. However, note that this only applies to customers who can prove that their birth month falls on the same month you process the renewal of your pawned item. Along with your pawn ticket number and a completely filled-out accommodation slip, you also have to present the MB Aguirre Pawnshop’s text message indicating that you are eligible for the discount. Otherwise, it will not be given to you by the branch associate.

Can I pay my electricity bill in MB Aguirre Pawnshop?

Yes. The pawnshop provides its bill payment service where customers may settle their bills for the merchant and billing partners. If you then wish to pay for your Meralco bill, you may simply visit any of the pawn shop’s branches and provide the exact amount due.

Conclusion

 

Now that payment centers and pawnshops are growing in numbers across the country, it becomes easier to access instant cash to meet your financial needs, settle your bills, top up your subscriptions, and even exchange your foreign currencies. 

 

While these financial services vary, it is not impossible to get all these transactions done from one place. MB Aguirre Pawnshop is one of those companies that can deliver all of these through its hybrid approach, in-person and online. 

Aunt Piggyy

Share this article: