4/10/2021 | 4 min read

Why Does The Pawnshop Need My Personal Information?

Believe it or not, there are a few really good reasons why the pawn shop asks for your personal information when you sell or pawn your items.

We will get into the nuts and bolts of it here in a minute. The bottom line is, your information protects both you and the pawn shop when a transaction is run.

Some of the information you are asked to share is to protect your identity.

Some of it is required in order to do business.

Some of the information is to ensure that you can be reached.

Last but not least, some of the information is used so that someone can’t come in and take your stuff.

While it can be a pain and inconvenient, there are several good reasons the shop obtains your personal information.

It’s Me, I Swear

Don’t panic if you are asked by one of our professional pawnbrokers to have your photo taken. Any pawn shop worth their weight in gold will request your photo.

Think about it, it’s the best way to prove your identity, right?

I mean - what if someone comes in and knows that you pawned something they really want to get their hands on? What if they got their hands on some form of your ID without your knowledge. They come in, pay off the last of your loan and boom! It’s theirs.

In my opinion, having your picture taken is a small price to pay to ensure that you know that your items are secure.

A Pawn Is A Loan

I don’t know about you, but any time I have tried to get a loan it felt like that banker could find me anywhere, and if they couldn’t find me, they could find my mama.

My point is, it’s standard when borrowing money to give the lender a large amount of personal information.

As a business, the pawnshop is depending on the customer to pay their loan on time and in full. I don’t think anyone could argue with providing any lender with their personal information.

Why Do You Need My Social?

I don’t like giving out my social security number any more than you do. But, there is a good reason why your local pawnbroker may ask you for it.

Have you ever heard of MLA? I hadn’t either until recently. It stands for Military Lending Act.

Long story short, any active duty military, their spouse or dependents can only be charged a certain amount of interest on a loan. That's actually really cool when you think about it,

I mean, they are serving their country and putting their lives on the line for our freedom. 

867-5309

You may have to be old like me to get that… but I thought it was funny.

Your phone number is used for one thing and one thing only. To call you!

Your number is safe with the shop. No one is going to call you or text you endlessly. We just want to be able to get a hold of you in case there is something you need to know.

Nothing more, nothing less.

Is My Information Safe?

Absolutely. Your information is kept digitally and well protected at all times.

Look, I know we live in a world where identity theft is a real threat. Fortunately for customers at Pocket Pawn, the technology that we use is second only to Fort Knox. Nobody is getting any information about you out of us. Yet again another reason why we are probably the best pawn shop on the planet!

Don’t forget to check out our Pull List for the latest and greatest hitting the shelf daily!

See you soon!

You might also like...