How to Purchase Foreign Banknotes

  1. Visit any Palawan Pawnshop branch to inquire about your preferred banknotes.
  2. Fill-out the reservation form to provide your complete name, address, contact number, and other required details. Please wait for our officer to verify the aforementioned details.
  3. Pay your remaining balance for your reservation at the assigned branch where you can get your reserved foreign banknotes. Customers are required to bring at least two (2) valid IDs and fill-out an Application to Purchase (ATP) form as mandated by the Bangko Sentral ng Pilipinas (BSP) upon claiming the reserved foreign banknotes.
  4. For customers who failed to complete their payment and claim the foreign banknotes within three (3) days after the agreed date, the transaction will be considered as cancelled. The downpayment is non-refundable.
  5. For transactions amounting to Php 100,000 and above, we will request further validation on the purpose of transaction (supporting documents are needed) and Enhanced Due Diligence (EDD). Bring at least two (2) primary valid IDs.
  6. Authorization may only be accepted for transactions amounting to Php 10,000 and below. The authorized person should bring a signed authorization letter upon transaction.

Note: Transactions will be made through reservation. A down payment of Php 1,000 must be given in order for the transaction to push through.

Currencies for Selling

US Dollar Japan Yen Euro
British Pounds Hong kong Dollar Swiss Franc
Canadian Dollar Singapore Dollar Brunei Dollar
Australian Dollar Malaysian Ringgit Saudi Riyal
Thailand Baht New Taiwan Dollar Kuwait Dinar
Bahrain Dinar UAE Dirham Qatar Riyal
China Yuan Korean Won New Zealand Dollar

How to Change Your Forex

  1. Visit any Palawan Pawnshop branch.
  2. Present your foreign banknotes to our branch associate to check and validate the authenticity of the bill.
  3. Fill-out the Money Changer (MC) ticket that will require you to provide your complete name, address, contact number and other necessary details. First time customers are also required to fill-out Customer Information Sheet (CIS) in line with the Know-Your-Customer (KYC) policy. Make sure to bring a valid ID.
  4. You will receive the Philippine Peso equivalent of the currency. Please make sure to get a copy of your MC ticket.
  5. No cancellation of transaction (see section 7 of the Terms and Conditions)
  6. For transactions amounting to Php 100,000 and above, we will request some validation on the purpose of transaction (supporting documents are needed) and Enhanced Due Diligence (EDD). Bring at least 2 primary valid IDs.
  7. Authorization may only be accepted for transactions amounting to Php 10,000 and below. Authorized person should bring a signed authorization letter.

Note: Palawan Pawnshop personnel may opt to refuse your foreign banknotes as stated in section 5 of the Terms and Conditions below.

Currencies for Exchange to Philippine Peso

All Palawan Pawnshop branches are accepting the following foreign currencies for exchange to Philippine Peso:

US Dollar Japan Yen Euro
British Pounds Hong kong Dollar Swiss Franc
Canadian Dollar Singapore Dollar Brunei Dollar
Australian Dollar Malaysian Ringgit Saudi Riyal
Thailand Baht New Taiwan Dollar Kuwait Dinar
Bahrain Dinar UAE Dirham Qatar Riyal
China Yuan Korean Won New Zealand Dollar

Terms and Conditions

  • DEFINITION. PPMC is a money changing service operated by the Palawan Pawnshop Group (PPG), which includes Eight Under Par (Pawnshop Operator) Inc., Palawan Pawnshop Inc., Paragua Pawnshop and Financial Services, Inc., and VG Star Pawnshop and Jewelry Corporation. PPMC is available in selected PPG branches.
  • COMPLIANCE WITH ANTI-MONEY LAUNDERING and TERRORISM FINANCING PREVENTION (AML-TFP) RULES. All parties and transactions under PPMC are subject to AML-TFP laws and PPMC policies, including Know Your Customer (KYC) requirements. As part of KYC, customers with relevant business transactions are required to fill out a Customer Information Sheet (CIS) and present a valid ID. A picture of the customer and his/her ID shall also be taken. Questions and additional documents may be requested from customers in compliance with KYC rules. PPG and its employees reserve the right to refuse to accept any foreign exchange transaction which in their sole discretion, may be in violation of AML-TFP laws, rules, or regulations, or other applicable laws. They shall not be liable for refusal of this nature.
  • FACE TO FACE TRANSACTIONS. Money changing transactions may only be done face to face and over the counter at regular business hours only at selected PPG locations all over the Philippines (unless there is closure of a PPG location with or without prior notice), subject to power and telecommunications failure, computer, gadgets, and connectivity failure, and inclement weather, and the like.
  • FOREIGN EXCHANGE RATES AND COMPUTATION. The foreign exchange rates applicable for the day may change without prior notice. Customers should understand, consent to, and check the foreign exchange computation at the counter before the PPG personnel gives the equivalent amount in pesos.
  • RIGHT TO EXAMINE BANK NOTES. The customer allows PPG personnel to check the validity and authenticity of the bank notes. Only bank notes which, in the PPG personnel's sole discretion, are acceptable and not demonetized will be considered for exchange. PPG reserves the right to refuse a foreign exchange transaction when, in its sole discretion, it determines that the bill is not acceptable or demonetized. PPG and its employees shall not be liable for refusal of this nature.
  • RIGHT TO CONFISCATE SUSPECTED FAKE BANK NOTES. PPG and its employees have the right to confiscate any foreign bank notes which its personnel suspect to be counterfeit, for submission to the Bangko Sentral ng Pilipinas (BSP) Currency Issue and Integrity Office (CIIO). The customer shall be given a document stating that his/her bank note is suspected to be fake and will be submitted to the BSP CIIO for verification. Customer details and the details of the transaction will be recorded for use in any investigation or reports which may be required. PPG and its employees will not return any suspected counterfeit foreign bank notes until the same is cleared by the BSP CIIO. PPG and its employees shall be presumed to have acted in good faith under this PPMC policy. If the BSP CIIO certifies that the foreign bank notes are counterfeit, the same shall be destroyed and the customer who presented it for exchange shall bear the loss. If the BSP CIIO certifies that the foreign bank notes are legal and valid, PPG shall retain the subject foreign bank notes and give the equivalent amount in Philippine pesos to the customer, using the exchange rate on the date of confiscation or the date of actual exchange, whichever is higher. Any amount due to the customer under this item 6 shall not bear interest.
  • CANCELLATION. Once the PPG personnel has given the equivalent amount in peso and the customer's Money Changing (MC) Acknowledgement Receipt, the foreign exchange transaction may no longer be cancelled. A foreign exchange transaction where the foreign bank note/s is/are confiscated because it is suspected to be counterfeit, may not be cancelled.
  • CHECKING OF AMOUNTS GIVEN. Customers are responsible to immediately check upon receipt the amount of pesos given to them against the foreign exchange computation provided to them at the counter. The moment they leave the premises of the PPMC location without any complaint, they acknowledge that the amounts given and the foreign exchange computation are correct.
  • TRANSACTIONS ABOVE P500,000. For foreign exchange transactions which exceed the equivalent of FIVE HUNDRED THOUSAND PESOS (PHP500,000.00) in one day, the payment will be made in check or by bank to bank transaction.
  • LIABILITY. In no event shall Palawan Pawnshop be liable for damages, whether caused by negligence on the part of its employees or otherwise, and specially in instances of confiscation of suspected fake bank notes, beyond the amount of FIVE THOUSAND PESOS (P5,000.00). In no event will PPG be liable for any indirect, special, incidental or consequential damages beyond the aforementioned amount.
  • CUSTOMER RELATIONS. Complaints regarding this foreign exchange transaction, other than those related to item 8 above, must be submitted in writing and received by any Palawan Pawnshop branch or emailed to customercare@palawanpawnshop.com within fifteen (15) calendar days from date of exchange. Any complaint after said period shall no longer be accommodated.
  • DATA PRIVACY. The foreign exchange client allows the Palawan Pawnshop Group* to: (a) collect and process his personal information for the PPMC transaction; and (b) disclose his personal information to PPG affiliates and to the Bangko Sentral Ng Pilipinas, as may be necessary. The foreign exchange client understands that the specific terms and conditions governing the collection and processing of his personal information are provided in the Data Privacy Policy in the Palawan Pawnshop website (https://www.palawanpawnshop.com) and he has read the same before signing this PPMC form.
  • VENUE OF LITIGATION. All claims or suits regarding this transaction shall be filed in the courts of Puerto Princesa City, Palawan only, to the exclusion of all other courts.