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Quick Guide: Understanding MoneyMax Pawn Shop Singapore

Getting to know more about MoneyMax Pawn Shop Singapore

Have you ever faced a financial dilemma and had no one to turn to? It is devastating to be left alone, especially during trying times. Who will you ask for money assistance?

Through the years, Moneymax continuously helped and guided Singaporeans, Permanent Residents, and foreigners. It commits to providing the best value to each customer.

In addition, Money Max has competitive payouts that ensure every client gains a fair price. Regardless if your item is pre-loved or brand new, the company will take good care of it.

Furthermore, MoneyMax boasts of its team. It is composed of professional valuers equipped with years of valued experience. That’s why the company offers one of the best valuations in the country.

Moreover, its services do not limit to pawnbroking only. It caters to all possible financial aid any locals and expats need. No wonder you can read much positive feedback about them.

It is truly fascinating how a single company can assist you in many ways, just one. Nevertheless, the company does not stop there. Learn more about what Money Max can offer as you read along.

Table of Content

MoneyMax Company Background

What are MoneyMax Services Offered?

How MoneyMax Pawn Shop Works?

How to Use MoneyMax Mobile App?

What are MoneyMax Pawn Shop Branches?

How to Sell Luxury Bags, Watches, and Gold Jewellery in MoneyMax?

Frequently Asked Questions

moneymax

MoneyMax Company Background

MoneyMax Financial Services Ltd. started in 2008. Often, it is addressed as the Money Max, the Company, or the Group. It is an innovative yet customer-centric company that pawnbrokers, retail, and trade pre-owned luxury items.

Through years of financial service, MoneyMax expanded to 90 outlets in Singapore and Malaysia. That’s why it is known as one of the largest and most trusted pawnbroking chains.

By 2015, the Company and its progressive exploration of opportunities launched MoneyMax Online. It became the country’s first pawnbroking chain with an online platform. Their latest innovation allows you to shop, sell, and appraise your valuables while sitting comfortably at home.

In the following year, 2016, the Company set in motion a new 916 Love Gold Jewellery Collection, which is available in all outlets. You can look at a broader range of jewellery and gold options on top of their pre-owned offerings.

In the same year, Money Max collaborated with the People’s Republic of China for a joint venture in providing financial leasing services. It specifically took place in Chongqing, PRC.

By 2017, the Company entered the Tokyo Stock Exchange-listed Aucnet Inc. It aimed to develop Singapore’s first online LIVE B2B auction platform. It focuses more on gold and diamond goods and luxury branded merchandise.

In 2018, Money Max ventured to another financial service—automotive. With its MoneyMax Leasing and MoneyMax Assurance Agency, you can achieve your dream goal for a vehicle.

That year, Money Max had its first intellectual property jewellery series—Peppa Pig. The first one is in ASEAN. As a result, it became a hit for many.

Awards and Recognitions

In 15 years, MoneyMax won multiple awards. These are:

2013 – Singapore Prestige Brands Award and Overall Winner Award for Promising Brands

2015 – The Most Popular Brand Award for Established Brands and inducted into the Hall of Fame

2020 – Singapore’s Fastest Growing Company by The Strait Times

What are MoneyMax Services Offered?

The Company made its name in Singapore since it can cater to almost all sorts of financial needs. Residents and foreigners can enjoy the list of services available offered by Money Max.

gold

Pawnbroking

MoneyMax pawn shops allow you to turn your precious items into instant cash. If you have diamond or gold jewellery, gemstones, luxury timepieces or bags, you can bring it to any MoneyMax Pawn shop. With its systematic and accurate assessment, you can take home the quick cash you need.

Value Now

The Company has a team valuing jewellery, diamonds, gold, luxury bags, and watches. If you take your items, you can get exceptional value for them. It won’t underestimate your goods. You won’t have a second thought about selling your items.

Jewellery

If you’re looking for the most suitable gift for your partner at an affordable price, you can check MoneyMax Jewellery. It has retail outlets with a wide array of brand-new gold collections of 916 and 999. In addition, you can shop for other accessories like pearls, diamonds, and fine jewellery at a reasonable price.

Also, you can choose from pre-owned luxury items like timepieces, bags, leather, and fine jewellery.

Car Financing

As stated above, Money Max ventured into financing automotive purchases. MoneyMax Leasing offers COE (Certificate of Entitlement) and Car Financing solutions. It caters to more than just interested customers. Instead, it bridges you to car dealer companies as well.

MoneyMax Renewal COE Financing has the best attractive rates and flexible monthly repayment. In addition, it has fast online loan approval with a loan tenure that can last up to 7 years. It will surely give you a hassle-free experience to get on the road to drive.

Insurance

In partnership with Money Max Leasing, Money Max Assurance Agency was made. It offers general and extensive insurance services—essential protection up to comprehensive coverage like fire and acts of theft.

Their motor and car insurance coverage includes vehicles purchased through Car Financing. If you prefer less hassle securing your vehicle, take advantage of their service.

Auction

With SG e-Auction, you can buy and sell your precious articles conveniently and confidently. Thanks to state-of-the-art technology, you can reach a wide range of traders. Since the auction is now available online, you can make real-time live electronic bids.

Through the MoneyMax platform, you can determine your product condition in stringent grading scales. It ranges from A, B, C, D, and S grades. Interior and exterior quality assessments are from highly-experienced valuers. That’s why you have the peace of mind that all transactions are safe and secure.

Money Max truly deserves its recognition. Its various financial services allow you to cope with your neverending challenges.

How MoneyMax Pawn Shop Works?

Despite the numerous services MoneyMax has, it created a big name for its pawnshops. Many locals and even foreigners bring their beloved valuables to them. It is prevalent, especially during challenging financial times.

But what does MoneyMax pawn shop do?

Here is a brief explanation of how their pawnbroking works, how you can apply for it, and the fees that entail with it.

moneymax pawn shop

The Process of MoneyMax Pawnbroking

MoneyMax Pawn shop is simple. It is a fast, stress-free financial solution suitable for your short-term cash demand.

If you have valuables like gold, gemstones, diamond, or luxury watches and bags, you can receive instant cash in no time. No more need to worry about tedious forms and agonising credit checks. Most importantly, approval no longer takes much of your time.

MoneyMax pawn shop has a safe yet more extended redemption period. You can claim your pledged items for up to 6 months. Or you have the option to pursue MoneyMax Renewal.

Your precious necklace stays inside their vault for safekeeping. It means your pawned items will not be sold while it is within the redemption period. Nevertheless, you can redeem it once you repay your loan at any MoneyMax Pawn Shop branch.

Are you interested in pawning your beloved gold earrings?

Follow the guide below.

Step 1. Bring your prized possession and Identity Card to any MoneyMax Pawn Shop.

Step 2. The appraisal procedure will take place. The experienced valuer will propose a loan amount.

Step 3. Agree with the valuation and claim your instant cash.

Step 4. Renew or redeem your pledge valuable within the redemption period. Remember that you can repay anytime as long as it is within the required amount.

Important Reminder:

The loan amount for your pawned item does not have a guaranteed market value for your pledged article. It is only subjected to Money Max personnel’s judgement of the value. Also, remember that your creditworthiness as a customer plays a crucial part in it.

What if you end your redemption period and still struggle with money?

You can request to re-pledge the same item. You don’t have to take a different golden accessory to create a new transaction. Instead, you have to do this.

Step 1. Discuss your plan to re-pledge with MoneyMax staff. Your items will pass through another valuation and inspection round as it serves as another transaction.

Step 2. Consider the pawnbroker’s prerogative whether they will accept the re-pledged item or not.

Step 3. Expect the difference in the loan amount from your previous transaction. It is always subject to change. The forecast of your pawned article depends on the time of valuation. The continuous fluctuations in the prevailing gold price are a significant factor.

What are the Requirements for Pawn?

MoneyMax Pawn shop is known to be easy since you only need to bring your beloved possession and Identification Card.

Singaporeans and Permanent Residents must present their National Registration Identity Card (NRIC). Meanwhile, foreigners must have a Work Permit for pawnbroking to push through.

In addition, you need to bring a purchase receipt or guarantor as proof. But it is only necessary if your instant cash loan exceeds SGD 200.

How Much is MoneyMax Interest Rate?

Money Max abides by the law when it comes to interest rate computation. It includes the pawned loan amount, loan months, and a rate of 1.50% per month. The basis of your interest is on full-month.

As of this writing, MoneyMax provides a 1% Interest Promotion. However, it is only valid in the following situations:

  • You redeem your pledge within the first month or renew it monthly.
  • You redeem or renew your pledge in the second month. It means the first-month interest rate is 1%, while the second-month interest rate is 1.5%.

If you wish to avail of the MoneyMax interest rate promotion, you must redeem or renew your pledge.

In addition, the value of your pledge must be $750 and above.

What are MoneyMax Fees and Profits?

MoneyMax Pawn shop charges only permitted profit and fees. If you plan to pawn your diamond ring, you will have to be aware of the following fees.

Interest Rate. You have a maximum interest chargeable is 1.5% monthly or a part thereof.

Pawn Ticket Charge. You have a chargeable of $2 every time a pawn ticket is issued.

Pawn Ticket Replacement Fee. If you lose your pawn ticket, you will pay a processing fee of $10 as a replacement.

Bear in mind these fees to avoid incurring any penalty. Moreover, keep your pawn ticket safe since it is vital in redeeming and renewing your pledged article.

How to Use MoneyMax Mobile App?

The All-in-One MoneyMax e-Services App is convenient and easy to use. It offers a seamless online valuation and shopping experience with just a tap of your finger. Also, you can manage your pawn interest payments and retail instalments with just your mobile device.

moneymax pawn shop mobile app

Best Features of Money Max e-Services

MoneyMax mobile app is the next best thing that Money Max developed. Its topmost features are:

Smooth Shopping Experience. You can buy the bags, timepieces, and jewellery you love through the e-store. No need to queue just to avail the best price offered. With the mobile app, you can get exclusive deals wherever you are.

Valuation Online. You can figure out how much the worth of your gold, jewellery, timepiece, and bag without second guessing. The online valuation portal gives you access to get quotes from experts.

Trouble-free Payment. You can renew your pawn tickets without going to the nearest Money Max branch. Also, you can pay your instalments diligently online with your debit cards and the PayNow platform.

Steps to Register for MoneyMax Login

To enjoy the benefits the MoneyMay app offers, create your account first. Here’s what to do:

Step 1. Download the mobile app from App Store (iPhone) or Google Play (Android).

Step 2. Tap on Register.

Step 3. Enter your name, active email address, and mobile number. Then, click Continue.

Step 4. Enter the One Time Password (OTP). Then, click Proceed.

Step 5. Verify the information and sign. Then, click Submit.

Step 6. Wait for a notice that states your registration is successful. Check your email for login credentials.

Step 7. Change the initial password into a stronger one that you can easily remember. Then, you’re done!

Steps to Pay Retail Instalment

Avoid overdue payments by paying your instalment online. Here’s what to do:

Step 1. Login to your MoneyMax account.

Step 2. Enter the OTP.

Step 3. Click on Instalment.

Step 4. Choose the instalment ticket you wish to pay.

Step 5. Enter the instalment amount. Then, click Confirm.

Step 6. Check all the details. Once good, click Proceed to Pay.

Step 7. Choose your mode of payment.

Step 8. Wait for the confirmation that your transaction pushed through.

Steps to Pay Pawn Interest

Don’t let your pawned valuables slip away by paying your pawn interest on time. Here’s what to do:

Step 1. Log in to your Money Max account.

Step 2. Enter the OTP.

Step 3. Select Pawn Ticket to view your active pawn ticket.

Step 4. Select the pledges you wish to pay.

Step 5. Check all the details. Once good, click Proceed to Pay.

Step 6. Choose your mode of payment.

Step 7. Scan to Pay with PayNow.

Step 8. Wait for the confirmation that your transaction pushed through.

Steps to Reduce Loan

If you want to decrease the loan amount you wish to repay, here’s what to do:

Step 1. Log in to your MoneyMax account.

Step 2. Enter the OTP.

Step 3. Select Pawn Ticket. 

Step 4. Choose the ticket and click Down-Loan.

Step 5. Enter the new pledge amount. Then, click Confirm.

Step 6. Check all the details. Once good, click Proceed to Pay.

Step 7. Choose your mode of payment.

Step 8. Wait for the confirmation that your transaction pushed through.

Steps to Activate MoneyMax e-Renewal Account

If you want to reactive your account to renew your pledge, here’s what to do:

Step 1. Sign in with your User ID and initial password.

Step 2. Enter the OTP.

Step 3. Change your initial password and user ID.

Step 4. Select the pledges you wish to renew.

Step 5. Check all the details. Once good, click Proceed to Pay.

Step 6. Choose your mode of payment.

Step 7. Wait for the confirmation that your transaction pushed through.

You can do almost every transaction with your MoneyMax mobile app. However, it is crucial that you keep your OTP to yourself to avoid future problems.

Related Article: Where to Find the Best Pawn Shops Near You

Where are MoneyMax Pawn Shop Branches?

The Company grew big in name and number in Singapore. It is in almost all parts of the country. Wherever you may be, you can inquire with them or repay your loan without fuss. Here are the locations where you can find MoneyMax pawn shops.

moneymax outlet

North Region

  • MoneyMax Pawnshop Ang Mo Kio
  • MoneyMax Pawnshop Causeway Point
  • MoneyMax Pawnshop Chong Pang
  • MoneyMax Pawnshop Hougang Mall
  • MoneyMax Pawnshop Hougang
  • MoneyMax Pawnshop Kovan Central
  • MoneyMax Pawnshop Marsiling MRT
  • MoneyMax Pawnshop Northpoint City
  • MoneyMax Pawnshop Rivervale Plaza
  • MoneyMax Pawnshop Sembawang MRT
  • MoneyMax Pawnshop Sengkang Grand Mall
  • MoneyMax Pawnshop Yew Tee MRT
  • MoneyMax Pawnshop Waterway Point
  • MoneyMax Pawnshop Woodlands MRT

Central Region

  • MoneyMax Pawnshop Bendemeer
  • MoneyMax Pawnshop Bishan MRT
  • MoneyMax Pawnshop Bukit Merah
  • MoneyMax Pawnshop Little India
  • MoneyMax Pawnshop Lucky Plaza #01-65/66
  • MoneyMax Pawnshop Lucky Plaza #02-77
  • MoneyMax Pawnshop Lucky Plaza #B1-04/05
  • MoneyMax Pawnshop NEX
  • MoneyMax Pawnshop People’s Park Complex
  • MoneyMax Pawnshop Redhill
  • MoneyMax Pawnshop Serangoon 81
  • MoneyMax Pawnshop Serangoon 93
  • MoneyMax Pawnshop Tanjong Pagar Plaza
  • MoneyMax Pawnshop Tekka Centre
  • MoneyMax Pawnshop Toa Payoh

East Region

  • MoneyMax Pawnshop Bedok
  • MoneyMax Pawnshop Geylang
  • MoneyMax Pawnshop Joo Chiat Complex
  • MoneyMax Pawnshop Paya Lebar MRT
  • MoneyMax Pawnshop Tampines MRT
  • MoneyMax Pawnshop White Sands Shopping Centre

West Region

  • MoneyMax Pawnshop Boon Lay
  • MoneyMax Pawnshop Bukit Gombak
  • MoneyMax Pawnshop Bukit Panjang Plaza
  • MoneyMax Pawnshop Choa Chu Kang MRT
  • MoneyMax Pawnshop Clementi
  • MoneyMax Pawnshop IMM Shopping Mall
  • MoneyMax Pawnshop Jem Shopping Centre
  • MoneyMax Pawnshop Jurong East
  • MoneyMax Pawnshop Jurong East MRT
  • MoneyMax Pawnshop Jurong Point Shopping Centre
  • MoneyMax Pawnshop Jurong West
  • MoneyMax Pawnshop Zheng Hua

You surely won’t miss a repayment. Aside from having a mobile application, MoneyMax is also everywhere.

How to Sell Luxury Bags, Watches, and Gold Jewellery in Money Max?

Did you fall out of love with your luxury items? Are you worried you haven’t got your money’s worth?

Worry no more. MoneyMax is not all about pawning. It can also be your platform to earn cash from your beloved possessions.

louis vuitton

Why Sell in MoneyMax?

Many Singaporeans earn extra cash from pre-owned luxury accessories, bags, and watches. It is all thanks to Money Max. But why should you trust your precious items to them?

Here are the top three reasons why.

A Trusted Partner. Money Max is a licensed pawnbroking chain in Singapore. It has an extensive network in the industry. No wonder it has over 70 stores network in Singapore and Malaysia.

More Than 20 Years of Experience. MoneyMax consists of a team of highly-experienced valuers that have years of valuing luxury timepieces and bags, diamond jewellery, and gold. Their vast knowledge and skills offer the best valuation most customers receive.

Instant Cash Payout. Selling out your items in Money Max is hassle-free. You can receive your quick cash from your special pre-owned items fast. Plus, it is time-saving since you don’t have to line up to get your valuables assessed.

Competitive Price. MoneyMax commits to serving the best value to all customers. It provides a competitive payout that ensures all clients receive the most appropriate deal for their pre-owned stuff.

Steps to Sell Luxury Bags

To secure that buyers and sellers receive authentic designer bags, Money Max started making luxury accessible and available to everyone.

Selling out your bags is not just gaining instant cash. It also gives you more free space at home. This way, you can purchase new items and secure a safe slot for them.

Here’s what to do.

Step 1. Snap a photo of your luxury bag.

Step 2. Submit a clear picture of the bag on the MoneyMax website. You may use your desktop or mobile phone for online valuation enquiry.

Step 3. Get a free estimated quote for your bag. The experienced valuer will send it to you.

Step 4. Accept the quote offered if reasonable.

Step 5. Bring the pre-owned bag luxury to the MoneyMax outlet.

Step 6. Claim your cash payment.

What bag brands does MoneyMax accept?

Burberry, Celine, Chanel, Dior, Fendi, Gucci, Hermes, Louis Vuitton, Prada, and more are acceptable bag designer brands.

What factors affect a fair valuation?

The current bag condition is the primary factor. But the original retail value and current fashion trends take a significant effect.

It’s that easy. You get to secure that your precious bag is in good hands. Most importantly, you receive the best value suitable for it.

Steps to Sell Luxury Watches

Selling your expensive timepieces is a complex and confusing procedure. MoneyMax makes the process and transactions more simple and fair for all sellers. Here’s what to do.

If you sell your precious watch, you earn instant cash and finance your next purchase. Here’s what to do.

Step 1. Snap a photo of your luxury watch.

Step 2. Submit a clear picture of the watch on the official website of MoneyMax for online valuation.

Step 3. Get a free estimated quote for your bag. The experienced valuer will send it to you.

Step 4. Accept the quote offered if reasonable.

Step 5. Bring the pre-owned watch luxury to the MoneyMax outlet.

Step 6. Claim your cash payment.

What watch brands does MoneyMax accept?

Audemars Piguet, IWC, Omega, Rolex, Panerai, Patek Philippe, Tag Heuer, and more are acceptable timepiece brands.

What factors affect a fair valuation?

The current watch condition is a determining factor for a fair and competitive valuation. But you also have to present the box and certificate. The current market data is another essential detail to consider.

Steps to Sell Luxury Jewellery

If you feel your gold bangles have gone out of style, sell them on MoneyMax. You can turn your beloved jewellery into extra financing you never thought you needed.

You can purchase new jewellery that fits that latest trend by selling your precious pre-owned gold article. Just contact a trusted pawnbroker and trader of pre-owned jewellery items in Singapore.

Here’s what to do.

Step 1. Snap a photo of your luxury accessory.

Step 2. Submit a clear picture of the gold jewellery on MoneyMax for online valuation.

Step 3. Get a free estimated quote for your bag. The experienced valuer will send it to you.

Step 4. Accept the quote offered if reasonable.

Step 5. Bring the pre-owned gold luxury item to the MoneyMax outlet.

Step 6. Claim your cash payment.

What kind of jewellery does MoneyMax accept?

MoneyMax accepts gold jewellery like earrings, necklaces, pendants, and rings.

What factors affect a fair valuation?

The quality of your gold jewellery, like weight and purity, are vital factors in giving a competitive valuation.

MoneyMax Value Now is the next best feature of the company. Aside from being a pawnbroker, Moneymax is an experienced valuer and trader for your pre-owned items.

But what if you don’t have any expensive articles to pawn or sell? How can you cope with your need for urgent cash?

Fortunately, you can apply for a low-interest personal loan in Singapore. Cash Mart approves quick cash collateral free—no need to leave your prized possession behind. Check out their online lending products and services. See how a licensed moneylender can assist you.

Frequently Asked Questions

Is it worth it to sell luxury items via MoneyMax?

Yes. MoneyMax has a team of experts with numerous years of experience valuing luxury articles. It assures you that you trusted the correct pawnbroker and trader.

Can I sell my wallet to MoneyMax?

Yes. MoneyMax approves cash payouts for pre-owned luxury items. It includes accessories, bags, wallets, and watches.

How long does a pawn loan take?

If you have no time to visit any MoneyMax store, you can process it online within 3 minutes. You can get an estimated value within 3 business days with the online valuation service.

What to do if I lose the pawn ticket?

You must get a replacement ticket from MoneyMax immediately. You can visit the store with your Identity Card and pay the replacement ticket processing fee.

Can I repay at another MoneyMax outlet?

Yes. MoneyMax has a dedication to providing maximum convenience. Their Inter-Store MoneyMax Renewal Service allows you to pay interest at any outlet islandwide.

Are my luxury items safe in MoneyMax?

Yes. MoneyMax offers insurance to your valuables while they are being kept in their vault.

Can I still redeem my pledge after it expires?

No. According to the Pawnbroker’s Act, the redemption period for a pledged collateral is 6 months.

Do I still need to visit a physical store to complete a transaction?

Yes. The valuers need to inspect and appraise your article in person. But you can still start the process conveniently at home with the online valuation portal.

Is pawning and selling the same?

No. Pawning allows you to get quick cash from your valuables and redeem it within 6 months. You can still hold onto its sentimental value once you repay it and its interest. Meanwhile, selling is exchanging your pre-owned watch, bag, and jewellery for cash.

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