Discover the Features and Advantages of Online Bills Payment in the Philippines!

Introduction

Whether you are purchasing gifts or settling bills, an online payment system is the most convenient way to complete your transactions. You no longer have to worry about leaving your home or waiting in long lines just to pay a small amount of money.

A lot of businesses have integrated online payment systems into their digital platforms to keep up with the needs of their customers. Several of the companies that provide this service also allow you to use their systems from any device, which makes it easily accessible for most people.

Online Bills Payment Philippines

  • What is an Online Bills Payment?

Money that is traded electronically is referred to as an online transaction. Computer networks, the Internet, and digital stored value systems are often used for this process. Today, most transactions are paid online: food deliveries, tuition payments, utility bills, loans, rent, credit card fees, and so on.

  • Why Do We Have to Pay Online in the Philippines?

Nowadays, online bills payments systems are available in the Philippines for convenience. From the comfort of your home, you could pay for any item and service without being physically present elsewhere. In comparison to traditional payment setups, online payments can be accomplished wherever you are.

When you pay online, you can review your account balance to see if your bill payment has been scheduled or if you have been charged. Other advantages include the ability to check for individual payments online, view online payment history, and set up email notifications to keep you informed about upcoming payments.

We live in a world where technology has helped humans in various ways. Instead of getting stuck on the traditional setup, humans have created systems that simplify everyday processes. Thankfully, we have Cebuana Lhuillier as a financial services provider for pawning, remittance, microinsurance, and micro savings.

Bills Payment Philippines

  • Bills Payment Options In The Philippines

  • Malls/utility company’s offices

These days, Filipinos can pay through bills payment centers like malls or utility company outlets . In fact, a bills payment counter can be found in almost every mall in the Philippines.

  • Online Payment

The Philippines has one of the lowest card penetration rates globally. Most online transactions are made using alternative online payment methods. In fact, you can pay your bills online in two ways: through your bank’s online platform or third-party mobile apps, such as digital wallets.

Online Bank Transfer

The majority of eCommerce transactions (estimated at 30-70 percent depending on industry and vertical) are made with cash-on-delivery and online bank transfers. The Philippine market is notable for its low level of credit card use and rapid growth in mobile as a payment platform.

In the Philippines, banks such as Banco De Oro (BDO), Metrobank, Bank of the Philippine Islands (BPI), Rizal Commercial Banking Corp (RCBC), and others accept this payment method. Payments can be made through the shopper’s own online banking website.

Mobile apps

Online merchants use alternative online payment systems to enable customers to make purchases online. Internet use in the Philippines is rising at one of the highest rates in the world, with 70 percent of Internet users being between the ages of 15 and 34. Consumers around the country have been in the house for months, doing much of their shopping online—and the pattern shows no signs of slowing down.

Touching a credit card reader isn’t sanitary, and cash is so last century. By using mobile payment apps, you can easily send payments using your smartphone. These systems are perfect for small transactions, such as online orders and daily purchases.

Furthermore, mobile payment apps can help mitigate the risk of carrying cash, which can be lost or stolen. Paying with your digital wallet is also simpler and quicker than swiping or inserting a credit or debit card.

Many retailers accept mobile payments, and the number of stores accepting this technology is growing every day. Online bills payment systems make it easier for you to keep track of everything because all transaction information is in one location. You can quickly tell whether anything is written wrong or whether you have made a payment.

  • What is the best way to pay bills online?

Cebuana Lhuillier provides a convenient bills payment option. All transactions are online and completed quickly and safely. Large telecommunication networks, insurance providers, online enterprises, and schools are among our existing partners.

  • Is there an app to pay all bills at once?

Yes, there are apps that allow you to pay all bills at once. Applications, such as GCash, GrabPay, PayMaya, Coins.PH, BanKO, and PayPal, help Filipinos minimize stress and accomplish all payments at once. These apps are used to pay bills, make QR transactions, book movies, as well as send and receive money. Make sure you’re using the right mobile app. Check the name on the bank’s website or click on the link they provided.

Paying your bills on time is a difficult but necessary errand. If you don’t, you risk falling behind on your dues, which can put you in debt, damage your reputation, and even prevent you from buying the things you’ve been aiming for.

Online Payment Philippines

Customers can pay for goods and services through a website using online payments. Here are some of the most important benefits of using online bills payments in the Philippines.

  • Low Labor Costs

Because online payments are typically automated, they have lower labor costs than manual methods such as checks, money orders, cash, and EFTPOS.

  • Convenience for Online Sales

Online payment methods make it easy to digitally sell and pay for goods and services.

  • Automatic Setup

Online payments can be set up to be automatic, which allows you to not miss a due date or make simple errors during the transaction.

  • Quick Transaction Speed

Online transactions provide you and your customers with immediate feedback.

  • Security From Theft

Online payments are usually encrypted, and they go directly into your bank account, so they pose little risk of theft.

  • Time-Saving Possibilities

Paying with a card, mobile wallet, or wearable device is almost always faster than paying with cash. Customers save time by simply swiping or tapping to pay. There’s no need to rummage through wallets or purses for coins, as the exact amount could automatically be deducted from your account balance.

  • Payment Assurance

When you process an electronic transaction and your terminal approves it, you can be confident that the payment will appear in your account very soon. Unlike cash, which requires you to transport and deposit it at the bank, no time-consuming extra step is required.

  • No Extra Costs

If you already accept chip and PIN payments, you do not have to worry about any additional fees when you start accepting contactless payments. You simply need to pay the same amount as you would for a standard credit card transaction. There are numerous packages available to accommodate businesses of all sizes, budgets, and transaction volumes.

Electronic payments, as well as the benefits they provide, are only one aspect of a well-functioning payment infrastructure. If you want to learn more, contact Cebuana Lhuillier for details and inquiries.

Cebuana Lhuillier

The PJ Lhuillier Group of Companies (PJLGC), founded in 1988, is a dynamic and multi-industry company. We own and operates businesses that provide financial services such as pawning, remittance, microinsurance, micro savings, and business-to-business micro loan solutions.

Over the years, we have grown to become one of the country’s most powerful financial services companies. Since opening our first Agencia Cebuana in Cebu, we have made significant strides toward our goal of becoming the best.

In addition to pawning, money transfer, insurance, and banking, Cebuana Lhuillier provides other services to meet the needs of our customers. Foreign exchange and business-to-business transactions such as bill payment, e-load, and corporate payout are available in some of our branches.

You can expect to have a decent and effective online bills payment with us. Please approach our friendly branch personnel or contact our Customer Care Unit at the following contact details from 9:00 am to 6:00 pm (Monday – Sunday) for inquiries, comments, and/or suggestions.

FACEBOOK

Inquire via Facebook at cebuanalhuillierpawnshop

EMAIL

Inquire via email at [email protected]

SMS

Inquire via text message:

GLOBE 0917-8122737

SMART 0918-8122737

VIBER 0917-8122737

*Text only. No voice calls.

CALL

Phone in your inquiry

(02) 8779-9800 (PLDT)

(02) 7759-9800 (Globelines)

List of Bills Payment Partners

Our branches at Cebuana Lhuillier also serve as bills payment locations. We conduct all transactions online, and we complete them in a timely and secure manner. Its current partners include major telecommunications networks, insurance companies, online businesses, and educational institutions.

List of Bills Payment Partners:

Globe/Globelines/GQuest

PLDT

Smart/SmartBro

Smart Marino

Sun Cellular

Wi-Tribe

Cignal

Converge ICT Solutions Inc.

G-Sat (Globe Satellite)

Angeles City Cable Television Network (ACCTN)

Central Luzon Cable Television Network (CLCTN)

BPI Credit Cards

 

LOAN PAYMENTS

123 Lending Corporation

Aeon Credit Service

Asialink Finance Corporation

Finaswide Credit Corp.

Global Dominion Financing, Inc.

Grolier International Finance Inc.

Home Credit

Makati Finance

Mentors Philippines

Metrobank Credit Card

Metro Quicash Lending Corp.

Monielend Corporation

Sumisho Motor Finance Corp.

South Asialink Credit Corp.

Unionbank Loans

Microfinance Maximum Savings Bank, Inc. (Maxbank)

Easy pay Finance Corporation

RCollect

Country Funders and Lending Investors Corp.

123 Finance

 

INSURANCE

APEC Plans

Cocolife (UCPB)

Manulife Financial Plans

Manulife Philippines

Sunlife of Canada (Philippines) Inc.

Allianz PNB Life Insurance Inc

 

AIRLINES

Air Asia Zest

Skyjet Airlines

Cebu Pacific Air

Philippine Airlines

Tiger Airways

 

UTILITIES

Benguet Electric Cooperative Inc. (BENECO)

BP Waterworks, Inc.

E-Prime

Goodhands Water Specialists, Inc.

Happywell Mgt. and Collection Sevices, Inc.

Meralco

Kuryente Load (Meralco)

Manila Water

Maynilad

Benguet Electric Cooperative Inc. (BENECO)

E-Prime

NEECO II Area 1 (Nueva Ecija II Electric Cooperative, Inc. Area 1)

NEECO 2 Area 2 (Nueva Ecija 2 Electric Cooperative, Inc. Area 2)

OEDC (Olongapo Electricity Distribution Company)

Subic Enerzone Corporation

Subic Water

Zambales I Electric Cooperative, Inc. (ZAMECO 1)

Zambales II Electric Cooperative, Inc. (ZAMECO 2)

Batangas II Electric Cooperative (BATELEC 2)

BOHECO 1 (Bohol I Electric Cooperative, Inc.)

BOHECO 2 (Bohol II Electric Cooperative)

Consolacion Water Systems Inc.

Helpmate, Inc.

Samar II Electric Cooperative, Inc. (SAMELCO 2)

Visayan Electric Company (VECO)

Iloilo I Electric Cooperative (ILECO 1)

Cotabato Light & Power Company

Davao Light & Power Company

Davao Oriental Electric Cooperative Inc. (Doreco)

Davao Del Sur Electric Cooperative Inc. (DASURECO)

 

CABLE/SATELLITE TV

Cignal

BP Waterworks, Inc.

G-Sat (Globe Satellite)

Sky Cable Prepaid

Angeles City Cable Television Network (ACCTN)

Central Luzon Cable Television Network (CLCTN)

 

SCHOOLS

Lorma Colleges, Inc

Inspire Leadership Consultancy

Asian College

Jose Rizal University

Ateneo De Davao University

Mapua Institute of Technology

Davao Doctors College Inc.

University of Mindanao

Technological Institute of the Philippines (Manila)

Technological Institute of the Philippines (QC)

ICCT Colleges

 

FOUNDATIONS

Alagang Kapatid TV5

Caritas Manila

Children’s Hour

GMA Kapuso Foundation

Philippine Red Cross

World Vision

Cebuana Lhuillier Foundation, Inc.

Alagang Kapatid TV5

Philippine Red Cross

 

INTERNET GROUP BUYING SITES/ONLINE STORES

DragonPay Corporation

EZ Shop

Kimstore

Marikina Shoe Exchange

Natasha

OLX (formerly Sulit.com)

Lazada

Skybridge Payment, Inc.

Forever Living Products Philippines, Inc.

 

GOVERNMENT

DFA thru Multipay

NBI

Maritime Industry Authority (MARINA) thru Multipay

SSS – PRN

SSS – BRN

PAGIBIG

Philhealth

 

JEWELRY

Just Jewels

 

TELCOS 

ABS-CBN Mobile

Globe/Globelines/GQuest

GCash

PLDT

Smart/SmartBro

Smart Marino

Sun Cellular

 

OTHERS

Bellavita Land

BuyBit

Coins.ph

Ever Bilena Cosmetics Inc.

JC Worldwide Franchise Inc.

Le Soleil de Boracay

Level Up

Probikes Motorcycle Center

RLC – Robinsons Home

Phiten

SuySing

VMoney

Philsmile Inc.

Unified Tennis Association

Tanay Rural Bank

Automobile Association of the Phils Inc.

Sme Banking Solutions

Paynamics Technologies Inc.

Cash Credit

RLC – Residential

Action.Able Inc.

MSS Cycle Monthly Installment

E-load

Cebuana Lhuillier is an accessible loading station for prepaid internet and mobile phone users subscribed to major telecommunication networks.

 

List of E-Load partners:

Cignal

Globe/Globelines/GQuest

PLDT

Red Mobile

Smart

Smart Broadband

Sun

Touch Mobile

Level Up!

Wi-tribe

Marino Textmate/Phonepal

GSAT – Global Satellite

Frequently Asked Questions about Online Bills Payment

  • What is the most efficient way to pay bills online?

Electronic bills payment not only eliminates the need for postage, but it also simplifies the process. It also helps end users to avoid costly mistakes. Because no one wants to pay extra to manage their bills online, it’s useful to understand the best ways to pay your bills online for free and how to set these services up.

The online platforms for your bank or credit account are most likely the best ways to pay bills online. If you have a checking account, your financial institution most likely provides this feature for free.

  • How to pay bills when you don’t have a bank account?

There are many alternatives for bills payment if you don’t have a bank or checking account. Your primary options are check cashiers, money orders, and prepaid debit cards.

  • Do online payments go through right away?

If you pay by credit card online or by phone, it takes one to three business days for the payment to be posted. Payments sent through the mail will take a few days longer. If your credit card is linked to your checking account and the same bank holds both accounts, your payment may be posted immediately after the transaction.

  • How long does it take for an online payment to be processed?

On a business day and during business hours, electronic payments made online or by phone will be posted to your credit card account faster than a mailed check. You don’t have to wait for the mail to reach your credit card company when you use electronic payments.

Conclusion

Banks and other large corporations use encryption and other technologies to protect their customers’ personal and financial information. Generally, paying bills online is one of the safest and most convenient ways to ensure that you never miss a due date without worrying about physical transactions.

Micro Savings in the Philippines: A Convenient and Affordable Means to Save Money!

Introduction

Saving money is one thing people aim to do but is often difficult to commit to. While banks and other financial institutions offer several options to help individuals start saving money, these services are not easily accessible to everyone. Low-income earners are at a disadvantage because most of the resources available to them often come at a high price.

Act of Saving

One of the essential aspects of accumulating capital and ensuring a stable financial future is by saving money. This gives you a way out of life’s uncertainties and allows you to lead a more fulfilling life. Setting aside some funds for emergencies allows you to prepare for situations that require unforeseen expenses. Having an adequate amount of savings can also give you the financial freedom to take more chances or try new things.

Importance of Saving

Why Do We Need Money?

Money isn’t everything in life, but it is a critical component to get us by. It allows us to provide for ourselves and our families and helps us accomplish all of our life’s objectives. Money also gives us the freedom to support the things we care about, such as our basic needs and education. Additionally, we can use these funds to provide charity to those in need.

Our finances also enable us to obtain some of life’s intangibles. Money can help us gain independence, maximize our abilities and talents, chart our own paths in life, and achieve financial protection.

How much money should you have in your savings?

What exactly is the point of all this money-making? How much cash do you require? Your lifestyle and material requirements determine the answers to these questions.

Your financial condition determines how much money you should have in your savings. Everyone has an opinion about the amount of money you should have in your bank account. The reality is, it depends on your financial circumstances. The funds for your daily payments, discretionary expenses, and the part of your savings that makes up your emergency fund should all be kept in the bank.

Money isn’t fascinating in and of itself. What matters most is what money can do for you. Money provides you with flexibility and options. When you have a good income or financial capital, you can choose where and how you want to live.

So, where do you get your cash? Preparing for a successful career is the best way to meet your financial and lifestyle goals. Money should not, however, be the primary factor in determining your career course. In an ideal world, your profession will include work that you enjoy and can connect with.

Micro Savings Philippines

What is Micro Savings in the Philippines

Cebuana Lhuillier through its banking arm, the Cebuana Lhuillier Rural Bank, has unveiled the Cebuana Lhuillier Micro Savings account to give more unbanked Filipinos access to banking services. Through Cebuana Lhuillier Micro Savings, the company supports and helps promote the advocacy of the Banko Sentral ng Pilipinas (BSP) for financial inclusion in the Philippines.

Cebuana Lhuillier Micro Savings is a savings account that aims to make banking more accessible to Filipinos. It’s similar to a standard savings account, except it doesn’t require you to maintain a balance. In addition, it only has as a Php 50 initial deposit fee and has fewer documentary requirements.

The minimum balance requirements are often waived or extremely low, allowing users to deposit their funds in small increments.

With Cebuana Lhuillier’s nationwide network of more than 2,500 branches, account holders can deposit and withdraw money whenever it is convenient for them. You can also use your card to make cashless transactions in any of the 350,000+ Unionpay and Bancnet-accredited retail stores and withdraw cash at any of the 21,000+ Bancnet ATMs nationwide.

What is the procedure for opening a Cebuana Lhuillier Micro Savings account?

Fill out the Client Customer Information File Sheet and submit the following to any of Cebuana Lhuillier’s 2,500 branches nationwide:

  • 1 Government-issued ID
    • Birth Certificate (applicable to minors only)
    • Student ID (applicable only if the student is currently enrolled)
  • A minimum initial deposit of P50
  • P150 card fee (for clients without 24k card), P75 for card upgrade (for existing 24k card holders)

Benefits of Micro Savings in the Philippines

Since a micro savings account is less expensive and has fewer documentary requirements than a traditional bank account, it is a way for low-income families or individuals to save money and take control of their future.

Cebuana Lhuillier Micro Savings accounts are also available to children as young as 7 years old, so parents can teach their kids about responsibility and the importance of managing their finances.

Is Micro Savings Safe?

We always ensure that your deposit is safe with your Cebuana Lhuillier Micro Savings account. Our personnel at Cebuana Lhuillier branches are fully trained and capable of handling finances with the utmost care. Your account is also secured by a PIN that will always remain private.

How Can You Get Micro Savings in the Philippines?

Cebuana Lhuillier’s Micro Savings service is extremely comprehensive, but the application is quite simple. To start the process, just go to any of Cebuana Lhuillier’s 2,500 branches nationwide, fill out the Client Customer Information File Sheet, and submit the requirements.

Cebuana Lhuillier’s Micro Savings

How much is the interest of Cebuana micro savings?

Check out this table for details:

PRODUCT DETAILS
Interest Rate Per Annum 0.30%
Minimum Balance to Earn Interest Php 500
Minimum Maintaining Balance None
Dormancy Period None
Maximum Account Balance Php 50,000
Deposit Amount Min. Php 50; Max Php 50,000
Withdrawal Amount Min. Php 100; Max Php 5,000
Deposit Fee FREE
Number of Allowed Withdrawals Per Day 3
Withdrawal Fee FREE until further notice
Requirements to Open An Account 1 valid government ID
New Card Fee Php 150
Card upgrade fee (para sa existing Micro Savings account holders) Php 75*(subject to change without prior notice)

Are Cebuana Micro Savings Accounts Safe?

Yes, they are. Cebuana’s Micro Savings accounts are the future of low-cost banking. They have been established as the most accessible banking option, and we are constantly improving our reliable and extensive services.

How Much is the Withdrawal Fee in Cebuana Micro Savings?

The withdrawal fees may vary depending on the rates.

How Does Micro Savings Work in Cebuana?

Cebuana Lhuillier Micro Savings aims to make banking more accessible to Filipinos. It is similar to a regular savings account, but it does not require account holders to maintain a balance. With Cebuana Lhuillier’s nationwide network of over 2,500 branches, individuals can deposit and withdraw money whenever and wherever they need to.

Savings Account Philippines

Whether you’re budgeting, working a side hustle, cutting expenses, or getting out of debt, the main goal is to increase the amount of money you have available for savings and investments. However, before you do achieve that, you must have a secure and dependable location for your money.

A savings account is one of the most common types of bank accounts in which a person can invest. It is a single account that can be used for a variety of purposes. In fact, there are several types of savings accounts that can be used to meet various needs.

In addition, savings bank accounts earn interest. Their current balance contributes to an individual’s income. Some banks offer higher interest rates for keeping a larger balance, while others offer a sweep-in facility that allows account holders to earn more interest income.

  • Why Do You Need a Savings Account in the Philippines?

With so many types of investments promising potentially higher rates of return, you may be wondering why you need a savings account at all. The bottom line is that any solid financial plan is built on a foundation of liquid assets, such as cash and funds in a checking account. Your checking account may cover your daily expenses, but there are several reasons to keep some money in a savings account.

The significance of a savings account is often overlooked. Here are the reasons why you should consider having one.

  1. A Platform for Collecting Funds and Making Payments

A savings account is an excellent place to save money from various sources. There are no limits on the number of cheques that can be deposited, issued, or paid. This makes owning, maintaining, and using it quite simple.

  1. Preparation for Emergencies

Preparing your financial life for unforeseen circumstances is one of the most important pillars of good personal finance. Nobody is immune to emergencies, so you should always be prepared for them.

Some people refer to this as an “emergency fund,” while others refer to it as a “rainy day fund.” Whatever you call it, a savings account is one of the best places to keep the money you set aside for emergencies.

  1. Keeps Your Money Safe

 It’s always critical to keep your money safe, whatever platform you choose. Savings accounts always feature the best possible security measures to ensure to give account holders peace of mind.

  1. Savings for Your Life Goals

Opening and managing a savings account allows you to organize your finances and makes future planning more accessible. Even if you’re already saving for the future, keeping all of your money in a checking account can make it challenging to keep track of your progress. With that, look for online savings accounts that allow you to set up multiple “subaccounts” to help you organize and minimize fees.

You may not have the financial means to make a large purchase on the spur of the moment. Setting aside a set amount of money in a savings account each month toward the cost of a large-ticket item ensures that you can eventually afford it.

  1. Credit-Based Self-Determination

A savings account may allow you to meet your financial goals without relying on credit or loan. If you save enough money in a savings account, you will be able to buy things you want or need without having to take out a loan or use credit. This means you’ll be able to control your finances much better.

  1. Reduces Your Spending Temptation

A savings account requires you to separate a portion of your money from your daily spending money. Putting up barriers to stop impulse purchases can help you stick to your monthly budget and stay out of debt.

  1. Retirement Plans

A savings fund can also be a valuable retirement resource. In fact, a good savings account can allow people to retire early if they desire. Because savings funds earn interest when kept in banks, a large enough fund can provide retirees with the ability to live comfortably without depleting their principal balance. This can significantly improve a person’s quality of life after retirement.

  1. Plans for Building a House 

Individuals and families with a good savings fund can also increase their chances of buying the housing they desire. A good savings fund can provide much-needed cash for securing an apartment, as well as a substantial down payment on a home.

Banks typically require a down payment of around 20% on a house, so a healthy savings fund can often enable buyers to purchase a larger home and have more negotiating power when making an offer to realtors.

  1. Funds for Education

Savings accounts can also benefit families in the long run by providing funds for college education and private schooling. Tuition rates at most colleges and private schools can be expensive, but a good savings fund can make paying for a child’s education much easier and less stressful. Individuals can also use a savings fund to return to school and seek new qualifications if additional education would lead to a better job.

  1. Provides a Good Example

Putting money into a savings account at your local bank provides a teachable moment for your children. Showing your kids how to save allows them to practice self-control.

For these reasons, establishing a solid savings plan can be one of the most rewarding endeavors you can undertake. It may be difficult at first to create a household budget that allows for savings, but with time, the process of saving each month will become easier. Eventually, the rewards will be well worth the effort.

Once you’ve established a savings account, one of the best ways to save money is to automate your savings. This way, you don’t have to remember to put money aside every time you get paid. Numerous innovative and simple-to-use tools available can help you save money automatically.

Best Savings Account Philippines

A savings account is the most secure way to save your money. With eCebuana, you can do a lot of things.

eCebuana

The eCebuana app allows Cebuana Lhuillier clients to easily access micro-financial services such as Micro Savings, Money Remittance, Bill Payment, and E-load services.

Users can transfer money from their Cebuana Lhuillier Micro Savings accounts to other Micro Savings accounts using the eCebuana app. They can also pick up the money at any Cebuana Lhuillier branch, which grants a 20% reduction in fees. In addition, users can use Instapay to transfer money to other banks.

The app already has over 350,000 downloads. It will be updated with new features such as a Pawn Renew Online service and the ability to open Micro Savings accounts without visiting a branch in the future.

Conclusion

It is very simple to open and maintain a savings account. You can easily apply for one by visiting a bank of your choice, submitting the requirements, and paying a small fee.

Until recently, banks required a minimum account balance for a savings account, which has now been waived by most institutions. Now, most account holders may keep any amount of money in their accounts without restriction.

Even if you don’t have specific financial goals, you should have a savings account if you earn money. Savings accounts can offer security and peace of mind, as well as a resource in the event of an emergency or a business opportunity. The glamor of other investments may overshadow a savings account, but it is just as important, if not more so.

How Pawnshops Work: A Basic Guide for Pawnbroking in the Philippines

Introduction

Have you ever wondered why there are more pawnshops than banks in the Philippines?

This is attributable to the reality where pawnshops provide a wide range of financial services in places where banks are scarce. In fact, these outlets can become crowded and have long queues even in the provinces and especially in outlying areas.

Aside from the borrower incurring nominal transaction costs, the loans are simple to secure especially because it functions where in an item of worth that can be used as collateral is given in exchange of the loan.

Pawnshops, in contrast to their negative image in other countries, are favorably viewed by many Filipinos due to their critical position in fulfilling their short-term financial needs.

What is a Pawnshop?

A pawnshop is a store or form of business that lends money to consumers who carry valuable items to be pawned. These valuables are referred to as “collateral.” The precious asset will only be returned from the pawnbroker after the loaned money and interest have been repaid.

If the borrower fails to repay the pawnbroker’s loan and interest within the agreed-upon time frame, the pawnbroker can now sell the valued object to another buyer to recoup the money they loaned.

Pawnshops also provide micro-lending facilities, which are a critical source of credit in many developed countries, especially here in Asia. They further fill the void created by financial systems by offering loans to low-income families and minimum wage earners that might not have been available otherwise. They can also boost credit market competition by offering an alternate source of credit to those who have been denied bank loans.

Over time, pawnshops have developed into multi-purpose stores that offer a wide range of goods and services. They have also expanded into unrelated market practices such as money remittance, money changing, bill payment for collection services, e-load, and delivering facilities for the selling of microinsurance goods to households.

How Do Pawnshops Work?

People go to pawnshops for three reasons. First, they need cash in order to secure a swift loan. Second, they must pawn personal possessions such as jewelry, electronics, and other precious objects. Finally, they try to purchase unredeemed objects that are up for sale.

If you’ve never been to a pawnshop, don’t be intimidated because they have fantastic bargains. They’re similar to a garage sale and a flea market wrapped into one.

There are also three types of people who usually transact at pawnshops, including the following:

  1. People who need quick cash and are willing to pawn their precious item as collateral
  2. People who are trading their used items
  3. People who buy new or used merchandise

So, what’s the big thing with pawnshops? The fundamental concept of a pawnshop is to lend money to customers. The procedure is as follows:

  1. The act of pawning starts when you bring something you own and give it to the pawnbroker as a collateral for your loan.
  2. The pawnbroker lends you money in exchange for the collateral.
  3. You get your equity after you have repaid your loan and interest.
  4. If you fail to repay the loan, the pawnbroker will hold the collateral.

Suppose you’re pawning your recently purchased wedding ring, which the pawnbroker values at P2,000. You will get P2,000 and a pawn ticket in exchange for pawning your wedding ring. The following will be written on the ticket:

  1. You pawned something.
  2. The amount of money borrowed for the object
  3. The sum of money due in 30 days to reclaim the item

Your ticket will indicate that you got P2,000 for your wedding ring and that you would pay P2,200. This amount already includes the additional 10% interest on the loaned money. You will then have 30 days to get your ring back. During those 30 days, you can do any of the following:

  1. Return to the pawnshop and pay the full price to get your wedding ring back.
  2. Pay the recurring fee at the pawnshop to stretch your loan for another 30 days.
  3. Do nothing and let the pawnshop keep and sell your ring.

That is the fundamental pawnshop transaction. A traditional item pawned at a pawnshop has a high chance of being reclaimed by the individual who pawned it. If it is not reclaimed, the pawnbroker would have to sell the item to recover the loan. In this case, the object must be in good working condition in order to be resold.

When compared to a yard sale or a flea market booth, a pawnbroker cannot sell junk. This is done to maintain the pawnshop’s reputable name and company in the community.

What are the Commonly Pawned Items at a Pawnshop?

Many people have depended on pawnshops for quick cash. However, have you ever considered what goods you could pawn? Here are some of the items that are most commonly pawned to obtain much-needed cash.

  • Jewelry

When most people hear the word “pawnshop,” the first thing that comes to mind is jewelry. After all, it has long been used as a symbol of power, prosperity, and beauty throughout society and history. Jewelry is an excellent investment piece in addition to being a representation of a person’s status.

Rings, earrings, necklaces, or anything that can be weighted and appraised—whether gold, silver, or diamonds—are great examples of often pawned jewelry. If you intend to pawn your valuable jewelry, especially ancestral pieces, make sure that it is thoroughly maintained so that it retains its pristine quality.

  • Designer Bags

While many individuals cannot afford designer bags, there are those who collect them. This is because the value of these bags increases over time, and when pawned, the cash collected may exceed the five-digit figure. Keeping this in mind, if you own a designer bag that is unused, you might want to consider pawning it. Aside from decluttering your home, you’ll be able to make some additional cash.

  • Watches

Luxury watches are another common item pawned at a pawnshop. Precious metals or jewels are used in creating them, and most of these timepieces are uncommon and expensive. Due to their unrivaled craftsmanship, durability, and aesthetic appeal, luxury watches are easily utilized as collateral.

  • Electronics and Gadgets

Televisions, cellphones, computers, cameras, tablets, and gaming consoles—name any gadget or piece of electronics and there’s a high chance that they can be pawned. Of course, the amount you receive will be determined by the current value of your belongings, so make sure they are all in outstanding condition to receive the maximum value. You may also charge them before taking them to the pawnshop so they may be checked and priced appropriately. Keep in mind that while retro versions of these devices may be priced higher, more recent models that are out of date may not fare as well during appraisal.

  • Musical Instruments

Electric guitars and drum sets are excellent examples of musical instruments that may be used as collateral. However, you must make sure that they are in “playable” condition. The value of the objects will be reduced if they have scratches or evidence of wear and tear. To increase the value of the products, you could include extra strings for the guitar and even drumsticks for the drum set. Take note that rare and more premium brands would have a higher appraisal price than their more common counterparts.

What You Need to Know in Buying Jewelry from a Pawnshop

Aside from depositing valuable items as collateral for quick cash, you may buy jewelry from pawnshops. This is because some people are unable to pay back the money they borrowed, effectively transferring the ownership of their valuable items to the pawnshop. These are eventually sold to customers looking to purchase fine jewelry at a lower cost.

When you visit a pawnshop, you’ll see a section where they exhibit the pieces of jewelry for sale, such as vintage or hard-to-find items. The majority of them are made of gold, although some are made of silver, platinum, and other precious metals.

However, how can you ensure that you obtain the best possible price for the jewelry you’ve chosen? Here are some tips to keep in mind before buying jewelry from a pawnshop:

  • Shop Around and Negotiate

Feel free to visit many pawnshops to check how much you can obtain for your chosen jewelry, as the value of specific items varies from one pawnshop to another. You can also seek advice from friends or acquaintances who have purchased jewelry from a pawnshop. Take note of both the positive and negative reviews so that you can receive the assistance you require and avoid receiving a less-than-favorable bargain.

  • Test the Jewelry

If you’ve already found the jewelry you want, you may have the pawnbroker test it with a solution to see if it contains impurities or not. Be wary of stainless steel being marketed as white gold in some circumstances.

You can also determine if the precious stone on the jewelry is genuine or a synthetic counterfeit. Scratching it with your fingernail or a coin is an excellent way to determine its genuineness. If you scratch it and it leaves a mark, the item is most likely fake.

  • Check the Price

Once you’ve determined that the jewelry is genuine, look into its price. Usually, jewelry has a price tag attached to it. If there aren’t any, be wary since they may raise the price, especially if you tell them your budget.

  • Read the Policy

Some pawnshops will ask you to sign a legal document stating that you purchased authentic jewelry from them and that there is no return or refund policy. Before you make a commitment and spend your money, carefully read the policies since this agreement is intended to safeguard both you and the pawnshop from any unforeseen incident or unwarranted claims.

Brief History about Pawnshops

Pawnbroking has a long history among the financial systems of humankind. It dates back at least 3,000 years to ancient China and may also be found in the earliest historical records of the Greeks and Romans.

In 1462, the Franciscans established the montes pietatis. This provided low-income people with interest-free loans. Later, in order to avoid early depletion of their money, they were compelled to charge interest. Public pawnshops had a brief rise in the Middle Ages before being re-established in the 18th century to relieve borrowers of the excessive interest rates charged by private pawnshops.

Pawnbrokers made loans only on the inherent worth of the collateral back then, and pawning has since become a source of financing for those in need. This system also became a reliable funding method for commercial initiatives. Currently, statutory restrictions of banking and finance are based on the legal foundation developed executives who had extensive backgrounds in pawnbroking.

Arrival of Pawnshops to the Philippines

Pawnshops have been popular in the Philippines due to their micro-lending services. This is essential in augmenting the financial capabilities of various individuals and families in need of quick cash. Under Presidential Decree 114 and Central Bank Circular No. 374, the Bangko Sentral ng Pilipinas (BSP) was granted the authority and obligation to supervise pawnshops in 1972.

Benefits and Risks of Pawnshops in the Philippines

Do you intend to borrow money via pawning? Before you go to a pawnshop, consider the following benefits and drawbacks:

  • Instant Access to Cash

Pawnshops provide instant access to money, which is very useful when you need it. This is why Filipinos incur pawn loans for a variety of purposes, most notably to cushion the financial blow in case of an emergency or to supplement capital for a small business.

In fact, the Bangko Sentral ng Pilipinas (BSP) stated in its 2017 financial inclusion survey report that pawnshops are one of the most well-known and accessible places where consumers may receive loans.

  • Easy and Fast Process

In pawnshops, the process is as simple as submitting a collateral for evaluation to the pawnbroker, filling out a form, signing a pawn ticket, and collecting a copy of the pawn ticket along with the cash. In only a few minutes, you are on your way home with the money you borrowed.

  • No Credit Checks

When borrowing money from pawnshops, there are no credit and background checks. Instead, both parties will agree on the collateral’s price and redemption date. If the collateral is not redeemed by the deadline, the pawnshop will simply sell it.

  • No Effect on Credit History

It will not harm your credit history or credit score if you fail to repay what you owe. The only repercussion is that the pawnshop gets to retain your pawned property. Furthermore, they are not obligated to submit credit information about their consumers to credit bureaus.

On the other hand, bear in mind the following risks you may encounter, especially when making your first pawnshop transaction. These include:

  • high loan interest rates
  • low appraisal
  • short loan terms
  • the risk of losing your pawned item

Do take note that these risks are affected by various factors, but it is mainly up to the specific pawnshop you choose. That is why you should only transact with highly reputable pawnshops so you can get the best value for your items.

Qualities of a Trusted Pawnshop

How do you know if you can place your trust in a pawnshop? Here’s how:

First, their company must be officially registered. In the Philippines, business permits and certifications must be displayed for the safety of clients. Aside from that, you could look for news stories on them online. Learn what their consumers have to say about them and their services. This way, you’ll be able to see if the pawnshops genuinely keep your stuff safe and secure.

In addition, look into the pawnshop’s ties and organizational initiatives. Choose one that has a track record of successful transactions and collaborations with other firms. Lastly, find a pawnshop that has been acknowledged or honored for their services so you can rest certain that you’re in good hands.

Fortunately, you can trust that Cebuana Lhuillier complies with all these standards. With our great reputation, you can rest easy knowing that you are transacting with industry experts.

With our pawning service, you will never be short of funds because we take a wide range of collaterals, including jewelry, electronics, luxury bags, music instruments, and watches.

We are also one of the leading pawnshops in the country, providing a 35% appraisal rate in about 2,500 outlets nationwide.

Cebuana Express (Upcoming Application)

To help you stay safe during the pandemic, we have expanded our Cebuana-from-Home online platform to include pawning services. This way, our customers may now pawn valuables without having to risk going to the nearest branch in their area.

To apply, you must fill out the application form on the website. Once completed, the application will be processed by a member of Cebuana Lhuillier’s TeleSales team, who will allocate it to the nearest rider for transaction completion.

Conclusion

Pawning is a valuable service for Filipinos, especially to those who need quick cash. However, finding a trustworthy pawnshop is critical so you could make the most out of your belongings. Cebuana Lhuillier is your partner for hassle-free and reliable transactions. Visit to the nearest branch in your area or connect with us through the Cebuana CARES system.

 

 

Money Remittance 101: Tips in Sending Money to Your Loved Ones in the Philippines

Introduction

With the increasing number of overseas Filipino workers (OFWs) globally, money remittances have been constantly boosting our country’s economy. This has been an ongoing trend in our recent history. Our modern-day heroes have proved to be a vital source of financial support for their families’ daily consumption needs, investments, and savings. OFWs work selflessly away from their loved ones to fulfill their dream of providing them with stable and financially secure lives.

Aside from that, it has been shown that international remittances lead to increased investments in various sectors, including health, education, and small businesses. At the national level, receiving large amounts of international remittances has increased opportunities for accelerated growth and development.

What is Money Remittance?

Money remittance is the act of transferring money from one city or location to another. This process works similarly to a money transfer, as none of the parties need a bank account. Many people rely on money remittance because of convenience. The entire transaction can be completed in a matter of seconds, and the sender can choose to have the money delivered to the receiver via cash pick-up or bank transfer. Money remittances are also regarded as a major source of income for people in developing countries, as many of their residents working in foreign locations send money back to their loved ones.

You can send money either via online transfer or by mail. This financial service can also be facilitated through wire methods. The funds collected from money remittances make a significant contribution to the economy of the receiving country.

According to the World Bank’s 2018 report, the Philippines received $32.6 billion, or P1.72 trillion, in remittances in 2017. During that year, our country was the third largest recipient of remittances worldwide. Additionally, the majority of those remittances are sent by OFWs. This demonstrates the critical role of remittances, especially those sent by hardworking overseas Filipno workers, in our country’s financial flow. The figures also highlight the importance of workers in foreign lands not only to their respective families but also to our nation.

How Do Money Remittances Work?

Now that you know what money remittance means, it’s time to learn how this service works. Money remittances are a significant source of cash inflow for any country. The transfer of funds benefits developing countries greatly.

The process involved with money remittances is relatively simple. First, the money is transmitted through a wide range of legal channels, such as mail, bank transfer, money order, or through an authorized money transfer operator. The funds will then be transferred from the sender’s current location to the recipient who is in a different location.

These funds are calculated and converted automatically based on the current exchange rates. After that, the money will be credited to the receiver’s account or be made available through cash pickup using their country’s currency.

Money remittances are classified into two types, depending on the nature of the transaction. These are outward remittances and inward remittances.

Outward Remittance

Outward remittance is also known as wire transfer outward remittance. This means that the remitting bank will send the funds to the correspondent banks using a specific instrument. The equipment will then transmit instructions for the designated payee to send a specific amount.

Telegraphic transfer, mail transfer, and draft transfer are prime examples of outward remittance instruments.

When someone who lives and works in a foreign country sends money home, this is also considered an outward remittance. This type of money remittance is usually employed to meet ongoing financial obligations in their home country. Some of its primary purposes are to pay mortgages and to support family members.

Outward remittance has also been shown to benefit remitters. Aside from the lower cost of the draft transfers, using this method can help you avoid an array of trade risks. These include not receiving goods after payment, goods shortage, and poor product quality. To protect yourself from these unfortunate circumstances, you should use outward remittance as a cash-on-delivery payment method when your goods are delivered.

Inward Remittance

In contrast, an inward remittance indicates that money was transferred into your bank account. It can be either domestic remittance, where money is sent within the country, or international remittance, where the money is sent from another country. Inward remittances contribute significantly to a country’s economy, especially the gross domestic product rates.

This type of remittance can be done in exchange for the export of goods or services, investment, donations, gifts, and so on. When you make this type of transaction, you will be given a certificate that extensively explains the details of your remittance.

Aside from that, inward remittances are known as the main method used by institutions to provide relief to various countries and areas in need. These are prevalent during natural disasters such as floods, earthquakes, and tsunamis.

Money Remittance vs Money Transfer

Now that you understand how money remittance works, it is important to know how it varies from money transfer. These two are sometimes confused as the same thing, although this is not the actual case. Knowing the distinction can be extremely beneficial if you are going to transfer money to your loved ones.

Money transfer and money remittance serve the same function, which is to deliver money from one person to another. However, money remittance refers to the process of sending funds to another country. An example would be an OFW transferring money to family members in the Philippines. Money transfer, on the other hand, refers to any cashless payment methods in general, such as bank transfers, digital or mobile wallets, or credit and debit cards.

The History of Money Remittance in the Philippines

Money remittances have a long history in the Philippines. This is largely affected by the number of OFWs throughout the years, as these workers send money back to their loved ones here in the ountry.

There are two types of Filipinos who send money back home: immigrants and overseas workers.

Immigrants are persons who have completely relocated to a foreign country. The immigration process in the Philippines began in the early 20th century, following the Spanish-American War, which resulted in the Philippines becoming a US territory.

There is a widespread misunderstanding that the Middle East is the preferred destination for OFWs. However, that notion did not begin until the 1970s.

It was made possible by the government’s overseas employment program, which enabled Filipinos to work in the Middle East, particularly in Gulf Cooperation Council countries (GCC). Following this event, between 1906 and 1934, there was an inflow of around 120,000 Filipino immigrants in Hawaii who chose to work on sugarcane and pineapple farms.

Overseas workers, on the other hand, typically sign a short-term contract to work in a foreign country for a set period of time. They are not entitled to citizen benefits because they are on a temporary contract. Nonetheless, they still receive the perks provided by the organization for which they work.

The present tendency of Filipinos signing up for work in the Middle East began in the 1970s, when foreign workers made up the majority of Filipinos who were offered the opportunity to work abroad. This also expanded to pop cultural references in Filipino entertainment, with movies and dramas depicting protagonists traveling overseas to offer financial assistance for their families.

Other than the Middle East, OFWs may be found in the United States, Canada, New Zealand, and Australia. After all, in the early 2000s, non-Pacific and Middle Eastern nations became a focus point for certain Filipinos.

Both the immigrants and OFWs highlight the importance of money remittances to the Philippine economy. It’s not only the families of OFWs who are reaping the benefits of their effort in foreign countries, but the entire country as well.

OFW remittances contribute to the country’s domestic consumption and growth. In fact, they account for 10% of the nation’s gross domestic output (GDP). According to data collected by the Bangko Sentral ng Pilipinas (BSP) in 2017, total cash remittances sent home by overseas Filipino workers increased by 4.3&, which translates to $28.1 billion.

What are the Benefits of Money Remittance?

Money remittances have shown to be extremely beneficial to all Filipinos as well as our country’s economy. Many poor nations have trouble borrowing money, which is why they are more likely to rely on remittances. These allow countries to support development in their own way.

Furthermore, OFWs and their relatives back home have benefited from money remittances. Families have been able to acquire needs such as food, clothes, shelter, and other products and services because of this manner of transaction. If the money given is saved, they may be able to obtain loans for business ventures.

Things to Consider When Doing Money Remittance

Before you conduct your first money remittance transaction, there are a few things you should keep in mind. Money remittance transactions are quick and simple, but failing to remember important reminders may result in money loss or your loved ones not receiving the fruits of your labor.

  • Choose a Reliable Remittance Company

Nothing beats selecting a reputable money transfer firm that actually cares about its customers. Conduct research on several remittance companies and read all their reviews. You may also inquire with other OFWs about their experiences with these companies. This way, you’ll know which remittance firm is worthy of handling your hard-earned money. For instance, a remittance provider with few to no positive reviews may be too suspicious, which means you risk financial loss in every transaction.

  • Secure the Money Remittance Transaction Details

If you are the sender, you should keep your money remittance transaction details safe. Before discarding the remittance transaction slip, ensure that the money has already been claimed by the receiver. If you lose the transaction slip before the receiver claims the money, notify the remittance company promptly and, if possible, request a reimbursement. This will keep strangers from claiming your remittance if they find your transaction slip.

In addition, be wary of anyone who contacts you claiming to be a loved one or relative and asking to borrow your money while giving their bank account information. This is a common ploy among scammers who prey on OFWs. Before proceeding with a transaction, confirm with your relatives over secure lines that they have truly altered their contact information.

  • Check the Control Number

Always double-check that you are delivering the right control number to the intended recipient. Usually, all money remittance operations end with the sender texting the control number to the receiver. With that in mind, ensure that the control number, as well as the recipient’s number, are correct. Otherwise, the money may be received by the wrong person.

Aside from that, the recipient must select the appropriate remittance firm or payout center that utilizes adequate security measures. Before paying out any transaction, a remittance business or payout center will normally need government-issued identification. They do not pay out transactions unless the recipient’s name in their system matches the valid ID presented when claiming the transfer.

Cebuana Lhuillier’s Pera Padala

Now, you’re aware of money remittance in the Philippines and its numerous advantages. However, you still need to find quick and dependable providers of money remittance services in the country. You don’t have to worry, because Cebuana Lhuillier’s Pera Padala service is the solution to your problem.

The Pera Padala service from Cebuana Lhuillier is a fast and secure way to send and receive money inside and outside of the Philippines. The recipient may claim the funds as soon as you complete the remittance process. Sounds easy, doesn’t it?

To send money, follow the steps indicated below:

  1. Fill out the Pera Padala form at the nearest Cebuana Lhuillier branch in your area.
  2. Present the completed Pera Padala form to the branch personnel, together with your valid ID. You may also bring your 24k card if you have one.
  3. Kindly provide the total amount to be paid.
  4. Secure the Pera Padala form and count the change, if you have received any.
  5. Give the 10-digit control number to the recipient or beneficiary of the money remittance.

Please keep in mind that while claiming the remittance, the recipient or beneficiary must submit the control number as well as a valid ID. The same is true for Cebuana Lhuillier’s other remittance method.

However, to claim your money, you must follow the procedures below:

  1. Fill out the Pera Padala form at any Cebuana Lhuillier branch.
  2. Present the completed form and your valid ID to the branch personnel. You must also provide your 24k card if you have one.
  3. The branch personnel will provide you the remittance money. To be sure, count the money you’ve received before leaving the branch.

The Pera Padala Service also helps OFWs who wish to send money to their loved ones through international remittance. Here’s how to transfer money to the Philippines from abroad:

  1. Fill out the send form at any of Cebuana Lhuillier’s foreign partners.
  2. Submit the completed form and a valid ID.
  3. Provide the total amount to be paid to branch personnel.
  4. Take a copy of the official receipt or other proof of remittance.
  5. Give the reference number to the receiver or beneficiary.

If you’re from the Philippines and want to transfer money to someone in another country using Moneygram or Western Union, here’s how:

  1. Fill out the Pera Padala form at your nearest Cebuana Lhuillier branch.
  2. Provide the completed Pera Padala form, valid ID, and 24k card to the branch personnel.
  3. Kindly provide the total amount to be paid.
  4. Secure the Pera Padala form and count the change you have received, if there’s any.
  5. Give the 10-digit control number to the receiver or beneficiary.

Digital Money Remittance in the Philippines

Due to the global spread of the COVID-19 virus, most people are now hesitant in venturing outdoors to make their own financial transactions.

As a solution, Cebuana Lhuillier has created an online application that will allow any Filipino to simply access financial services from the comfort of their own homes.

  • Online Money Remittance via eCebuanaApp

Cebuana Lhuillier had introduced the eCebuana app, an application that will assist consumers in obtaining financial services from the company. These include money remittance, micro savings, bill payment, and e-load services, among others.

Users may utilize this program to transfer money from one Micro Savings account to another, or to have the money picked up at any Cebuana Lhuillier bank for 20% less in fees. They may also use Instapay to transfer money to other banks.

All you have to do is download the eCebuana app from Google Play or the App Store. Click “Register Now,” and provide your personal information as well as a valid ID. Once completed, respond to the Customer Risk Profiling and wait for the email that will authenticate your account.

Conclusion

Aside from boosting the country’s economy, money remittances have a long history with Filipinos, particularly OFWs. This is why there is a need for a dependable and fast money remittance center to assist you in sending money to your loved ones.

Fortunately, Cebuana Lhuillier is here to assist you. Visit your local branch or download the eCebuana app from Google Play or the App Store!

Cebuana Lhuillier IPONalo Promo

Promo Mechanics:

1.)Ang promo na ito ay available sa lahat ng Cebuana Lhuillier Branches Nationwide simula May 15 hanggang August 14, 2021.

2.)Ang promo na ito ay bukas para sa mga client na may sumusunod na transactions :

    • New Clients na magbubukas ng account gamit ng 24K Debit Card
    • Existing Micro Savings Account Holder na mag-uppgrade to 24K Debit Card

3.)Ang mga sumusunod na transactions ay magkakaroon ng raffle entry :

Transaction Raffle Entry
New Account Opening 2 Entries (additional 1 if in app registration via eCebuana)
Card Upgrade 1 entry (addtl 1 for eCebuana registration)

 

4.)Magkaroon ng chance manalo ng cash prize, at magsama ng isang friend or family member of your choice sa monthly o grand draw.

 

Monthly Draw 
Raffle Draw Winner Additional Prize (For Friends and Family)
Winners Classification No. of Winners Prize Free Micro Savings Account
 

1st Draw : May 15 – June 14

2nd Draw : June 15 – July 14

3rd Draw : July 15 – August 14

 

 

50 Winners Per Month

 

(25 Winners for Account Opening, 25 Winners for Card Upgrade)

 

P 1,000.00 1 Friend or Family Member per winner Micro Savings Account

 

(1 New 24K Debit Card with P500 Initial Deposit)

Grand Draw  
Raffle Draw Winner Additional Prize (For Friends & Family)
Winners Classification No. of Winners Prize Free Micro Savings Account
1st Grand Draw Winner 3 P50,000.00 4 Friends or Family Member per winner  

Micro Savings Account

 

(1 New 24K Debit Card with P5000 Initial Deposit per friend and / or family member)

 

2nd Grand Draw Winner 3 P20,000.00 3 Friends or Family Member per winner  

Micro Savings Account

 

(1 New 24K Debit Card with P3000 Initial Deposit per friend and / or family member)

 

3rd Grand Draw Winner 3 P10,000.00 2 Friends or Family Member per winner Micro Savings Account

 

(1 New 24K Debit Card with P1000 Initial Deposit per friend and / or family member)

 

5.)Ang raffle draw ay magaganap sa J. Lhuillier Inc. ICT Office 3/F, The Networld Hub 156 Jupiter cor., Bel-Air Makati 1209. Ang draw ay gaganapin saksi ng isang DTI Representative.

 

Promo Duration May 15 – June 14 June 15 – July 14 July 14 – August 15
Draw Date June 28 July 28 August 27

 

6.)Lahat ng mga hindi mabubunot na entries sa monthly draw dates ay maari paring mabunot sa Grand Raffle Draw.

 

7.)Isang pangalan lang ang maaring makasali sa raffle draw. Kapag ang raffle entry ay napili sa mga sumusunod na raffle draw, ang premyo ng may pinakamataas na halaga ang iaaward sa nabunot na entry.

 

8.)Ipagbibigay alam ang mga nanalo ng raffle ang kanilang pag claim ng prizes via SMS at registered mail. Ang kanilang mga premyo ay idedeposit sa kanilang mga Micro Savings Accounts.

 

9.)Ang mga nanalo na nagnominate ng kanilang friend or family member ay kinakailangan pumunta sa kanilang mga transacting branches ng original account holder winner. Ang mga nominees ng original winner ay dapat physically present para masubmit ang kanilang mga impormasyon at mag-fill up ng mga forms para ma-claim nila ang kanilang debit card at cash prize.

 

10.) Ang P.J. Lhuillier Group of Companies ang magbabayad ng 20% tax para sa prizes na higit P10,000.00

 

11.) Ang prizes ay maari lamang i-claim sa loob ng 60 na araw mula sa pagkuha ng registered mail

 

12.) Ang empleyado ng P.J. Lhuillier Group of Companies, agencies, at services at kanilang mga kamag-anak hanggang second degree of consanguinity ay hindi maaring sumali sa raffle promo na ito.

 

 

Per DTI Fair Trade Permit No. FTEB-118423, Series of 2021

 

GINTONG 24k PAPREMYO Winners

Congratulations sa winners ng GINTONG 24k PAPREMYO! Marami pang prizes ang naghihintay sa inyo kaya magregister na sa 24k.cebuanalhuillier.com FOR FREE!

 

GRAND DRAW WINNERS

SHARON MANOOY BRANZUELA

JENEVAVE R. BRIAN

DIOJANNA F. BUENAOBRA

ISABELITA LAGARTO PEDROSA

CYNTHIA RIOFLORIDO TULLO

RICIL ALVARADO BASCUGUIN

NELENN MAE EVARDONE CAPACITE

KRIZIA NICCA A. BASILIO

NIDA CORTEZ LANDERO

RYAN PESALVER AMPARO

YSABELLA RUTH BANOGON DE GUZMAN

MILANIE DEL RIO RAMOS

SUNSHINE MANLIGUEZ EJORCADAS

ANNABELLE ZITA ABAD

WILLIAM PASCUA

Dagdag Payout Promo

FULL MECHANICS

  1. Promo duration is from May 15 to August 15, 2021.
  2. All clients who will payout remittance from the US through Quikz in Cebuana Lhuillier branches located in Metro Manila, Central Luzon and CALABARZON within the promo duration for the first time will get PhP 100.
  3. Every month, only first 500 transactions will be eligible to redeem the cash prizes.
Coverage No. Of Redemptions
May 15 to June 14, 2021 (Month 1) 500
June 15 to July 14, 2021 (Month 2) 500
July 15 to August 15, 2021 (Month 3) 500
  1. All qualified clients can only win once within the promo duration. No minimum amount is required.
  2. Cash prize is not transferable.
  3. Cash prizes can only be claimed upon payout and in the transacting branch. Unclaimed cash prizes per month will be forfeited in favor of Cebuana Lhuillier with prior DTI approval.
  4. All employees of P.J. Lhuillier Group of Companies, Ad/ Creatives Agency, PR and Media agencies and their relatives up to second degree of consanguinity or affinity are disqualified from joining this promo.

 

Per DTI Fair Trade Permit No. FTEB-117658, Series of 2021.

IPHONALO MO PROMO MECHANICS 2021

PROMO MECHANICS

  1. Promo will run from May 1, 2021 to March 31, 2022.
  2. For every purchase of any insurance product at any participating platform, for a premium of:
    • 399 and below – client gets one (1) e-raffle entry entitled to GC prize only
    • 400-1,500 – client gets two (2) e-raffle entry for GC & IPhone
    • 1,501-5000 – client gets three (3) e-raffle entries for GC & IPhone
    • 5,0001 to 10,000 – client gets five (5) e-raffle entries for GC & IPhone
    • 10,0001 and above – client gets ten (10) e-raffle entries for GC & IPhone
  3. Participating platforms are as follows: ProtectNow.com, GCash, CLIQQ, Streetby, Cebuana from Home, Cebuana Lhuillier 24k Online Portal, Lazada, Shopee, Safe&Swift, Cartspree, Book2Wheel, Cebuana Lhuillier Authorized Agent, Posible, 7eleven, Bizmoto, eTap
  1. Participating products are as follows (wherever available):Cebuana Lhuillier Personal Accident Basic, Personal Accident Prime, MYCARE, ERCare, Dengue Plus, Health Covid Plus, PamilyaCare, Motorcar and Travel Insurance.
  2. There will be 1 winner of iPhone 12 Pro Max every raffle draw and 30 winners of P5,000 gift certificate (10 winners per raffle draw).
  3. There will be winners for the following:
Duration Cut-off Dates Raffle Draw Dates
May 1- August 30, 2021 August 30, 2021,  11:59pm September 8, 2021
September 1 – December 31, 2021 December 31, 2021, 11:59pm January 10, 2021
January 1-March 31, 2022 March 31, 2022, 11:59pm April 8, 2022

 

  1. The draw will be at P.J. Lhuillier Inc. ICT Office 3/F, The Networld Hub 156 Jupiter cor. Bel-Air, Makati City 1209.
  2. If in case the client have purchased on behalf of the insured, the insured will be the one who’ll be receiving the prize – winners will be the policy holder for each platform.
  3. Entries who have already won are not eligible in the next draws.
  4. Employees of P.J. Lhuillier Group of Companies, agencies and services and their relatives up to second degree of consanguinity or affinity are not qualified to join the promo.

 

 

 

CORPORATE AGENT PARTNERS

  • ACTION.ABLE, INC.
  • ALL ACCESS GATEWAY INC.
  • ANTRECCO (AGUSAN DEL NORTE TEACHERS, RETIREES, EMPLOYEES & COMMUNITY COOPERATIVE)
  • ACM VIP
  • ALL CASH
  • AGRILIFE/ AGRIVET
  • ASENSO PINOY STORE, INC. (EASY DAY SHOP)
  • AVICOM ENTERPRISES
  • AYALA ALABANG VILLAGE ASSOCIATION
  • BAUG CARP MULTI PURPOSE COOPERATIVE
  • BAGUIO BENGUET COOP
  • CARD BANK INC
  • CARD MRI RIZAL BANK INC
  • CARD SME BANK
  • CARITAS BANCO NG MASA, INC.
  • CEBU PEOPLE’S MULTIPURPOSE COOPERATIVE
  • CIS BAYAD CENTER, INC
  • COOPERATIVE BANK OF BOHOL, INC
  • COUNTRY BUILDERS BANK
  • CREDENCE FINANCING, INC.
  • CURAMED PHARMACY
  • DALTON PAWNSHOP AND JEWELRY INC.
  • DANIELA PAWNSHOP
  • DIRECT AGENT 5 (DA 5)
  • DEVELOPMENT BANK OF THE PHILS.
  • EXPRESSPAY INC.
  • EVRIJEM FOREIGN EXCHANGE AND MONEY REMITTANCE
  • FILHAI MULTI PURPOSE COOPERATIVE
  • GLOBAL PINOY REMITTANCE AND SERVICES (GPRS)
  • GEMARY PAWNSHOP AND JEWELRY (CORP.)

OVER 600 BILLER PARTNERS NATIONWIDE

  • 123 FINANCE CORPORATION
  • 123 LENDING CORPORATION
  • 2C2P
  • 8AMC (VIA ECPAY)
  • ABEJO WATERS CORP.
  • ABRA
  • ACOM CONSUMER FINANCE CORPORATION
  • ACTIVE REALTY & DEVELOPMENT CORP.
  • ADA MANUFACTURING CORPORATION (VIA ECPAY)
  • AEON CREDIT SERVICE
  • AETERNITAS CHAPELS AND COLUMBARIUM (VIA ECPAY)
  • AFC SME FINANCE INC
  • AFTERWEST MICROLOANS INC
  • AGODA – DRAGONPAY
  • AGRIBANK
  • AGRO-INDUSTRIAL FOUNDATION COLLEGE OF THE PHILS.
  • AGUSAN DEL NORTE ELECTRIC COOPERATIVE, INC.
  • AIR YOU GO TRAVELS PHILIPPINES CO.
  • AKLAN ELECTRIC COOPERATIVE, INC.
  • ALAMINOS CITY WATER DISTRICT (VIA ECPAY)
  • ALLIANZ PNB LIFE INSURANCE INC.
  • ALPHA FUND SAVINGS & CREDIT COOPERATIVE (VIA ECPAY)
  • AMADEO WATER DISTRICT (VIA ECPAY)
  • AMYA POLYTECHNIC COLLEGE, INC. AND FINANCING CORPORATION (LENDPINOY)
  • ANGAT WATER DISTRICT (VIA ECPAY)
  • ANGELES ELECTRIC COMPANY ANGELICUM SCHOOL , INC. ILOILO CITY (VIA ECPAY)
  • ANJELMAN REAL ESTATE LEASING
  • ANTIQUE ELECTRIC COOP, INC ANTRECCO (BILLS PAYMENT)

OVER 600 BILLER PARTNERS NATIONWIDE

  • 123 FINANCE CORPORATION
  • 123 LENDING CORPORATION
  • 2C2P
  • 8AMC (VIA ECPAY)
  • ABEJO WATERS CORP.
  • ABRA
  • ACOM CONSUMER FINANCE CORPORATION
  • ACTIVE REALTY & DEVELOPMENT CORP.
  • ADA MANUFACTURING CORPORATION (VIA ECPAY)
  • CREDIT SERVICE
  • AETERNITAS CHAPELS AND COLUMBARIUM (via ECPAY)
  • AFC SME FINANCE INC
  • AFTERWEST MICROLOANS INC
  • AGODA – DRAGONPAY
  • AGRIBANK
  • AGRO-INDUSTRIAL FOUNDATION COLLEGE OF THE PHILS.
  • AGUSAN DEL NORTE ELECTRIC COOPERATIVE, INC.
  • AIR YOU GO TRAVELS PHILIPPINES CO.
  • AKLAN ELECTRIC COOPERATIVE, INC.
  • ALAMINOS CITY WATER DISTRICT (via ECPAY)
  • CREDENCE FINANCING, INC.
  • CURAMED PHARMACY
  • DALTON PAWNSHOP AND JEWELRY INC.
  • DANIELA PAWNSHOP
  • DIRECT AGENT 5 (DA 5)
  • DEVELOPMENT BANK OF THE PHILS.
  • EXPRESSPAY INC.
  • EVRIJEM FOREIGN EXCHANGE AND MONEY REMITTANCE
  • FILHAI MULTI PURPOSE COOPERATIVE
  • GLOBAL PINOY REMITTANCE AND SERVICES (GPRS)
  • GEMARY PAWNSHOP AND JEWELRY (CORP.)

List of Accepted Government/ Valid IDs

  • Passport
  • Driver’s License
  • Professional Regulation Commission (PRC) ID
  • National Bureau of Investigation (NBI) Clearance
  • Police Clearance
  • Postal ID
  • Voter’s ID
  • Philippine Identification System (PhilSys) ID
  • Government Service Insurance System (GSIS) e-Card
  • Social Security System (SSS) ID
  • Senior Citizen’s ID
  • Overseas Workers Welfare Administration (OWWA) ID
  • OFW ID
  • Seaman’s Book
  • Alien Certification of Registration (ACR)
  • Barangay Certificate or ID (with picture and signature)
  • Birth Certificate (applicable to minors only)
  • Firearm License
  • Immigrant Certificate of Registration
  • Marriage License
  • National Council for the Welfare of Disabled Persons
  • New TIN ID
  • OWWA ID
  • Student ID
  • Alien Certification of Registration (ACR) / Immigrant Certificate of Registration
  • Government Office or Government Owned and Controlled Corporations (GOCC) ID (e.g. AFP ID, HDMF (Pag-ibig Fund) ID, etc.
  • Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
  • Department of Social Welfare and Development (DSWD) Certification
  • Integrated Bar of the Philippines ID (IBP)
  • Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP (Bangko Sentral ng Pilipinas), SEC (Securities and Exchange Commission) or IC (Insurance Commission)

IDs Accepted

As required by Bangko Sentral ng Pilipinas (BSP), clients who engage in a financial transaction with covered institutions for the first time shall be required to present the original and submit a clear copy of at least ONE (1) valid photo-bearing identification document issued by an official authority. For our clients’ convenience, Cebuana no longer requires submission of the photocopied ID. IDs are captured using a webcam in all branches. Clients are also required to submit an updated photo and other relevant information whenever the need for it arises.

Forms of identification accepted are the following;

Pawn Accepted IDs
1. Passport
2. Driver’s License
3. Professional Regulation Commission (PRC) ID
4. National Bureau of Investigation (NBI) Clearance
5. Police Clearance
6. Postal ID
7. Voter’s ID
8. Philippine Identification (PhilID) card
9. Social Security System (SSS) Card / Unified Multi-Purpose ID (UMID)
10. Barangay Certification
11. Government Service Insurance System (GSIS) e-Card
12. Senior Citizen Card
13. Overseas Workers Welfare Administration (OWWA) ID
14. OFW ID
15. Seaman’s Book
16. Alien Certification of Registration/Immigrant Certificate of Registration (for foreigners)
17. Government Office and GOCC ID, e.g., Armed Forces of the Philippines (AFP ID)
18. Home Development Mutual Fund (HDMF ID)
19. Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
20. Department of Social Welfare and Development (DSWD) Certification
21. Integrated Bar of the Philippines (IBP) ID
22. Company IDs issued by private entities or institutions registered with or supervised or regulated either by the Bangko Sentral ng Pilipinas, Securities and Exchange Commission or Insurance Commission
23. ID issued by the National Council on Disability Affairs (NCDA)