Keep watching this space for important News & Information regarding the Pawn Industry and our store in particular
It is important to know, that ALL California pawnshops are regulated by the State of California. Loan rates, fees and all other terms are mandated by the State!
How long are loans for?
Four (4) Months plus a 10 day grace period.
What is the interest rates and fees?
That is a bit too complicated to explain here as it is a huge section in the California Financial Code. The rates are posted in the store and on the back of all contracts. California pawn rates and fees have not increased since 2012. New rates and fees go into effect January, 2016.
Are you insured?
We are licensed, bonded and insured.
Exciting things are coming
We at Gold Xchange are very excited to be working on a whole new pawn shop experience for our customers. At website launch, all customers will be able to view their active loans. You will be able to determine when your loans are due and the amount to either Redeem or ReWrite. Don’t worry, NO personal and/or identifiable data will be accessible, NOR is it ever stored on this website server…ever! All you will need is your Loan number and the 4 digit passcode that you set up in the store. If you haven’t already set up your 4 digit passcode, please come in and do so in person. This cannot be done over the phone!
Other news effective Jan. 1st. 2016:
Email notifications – Currently, “snail mail” notifications are sent out at the end of term. These notices have always cost our customers $3.00 each. These notices grant you a 10 day grace period from the time of mailing. Instead of these expensive paper notices, our customers will have the option to opt-in to our Email Notice System. These email notices will go out at the exact same time as the paper notice, however, you will know immediately that your loan is in the grace period. In contrast, paper notices took 2-3 days to be delivered, taking time out of your 10 days. Best of all, our Email Notices will be FREE!!!!! Sign up for the Email Notice System is now underway.
SMS Text Messaging – Three days prior to the Email Notice going out, we will send you an SMS text message to your cell phone. This message will remind you that your loan is coming due shortly, and if acted upon quickly, should save you money.
Laser Pawn Forms will replace the 3 part NCR form currently in use. This will help save the environment, bring our costs down, and in turn, enable us to pass on the savings.
Digital signatures and digital thumbprints will soon be mandatory for ALL pawnshops. We at Gold Xchange have already began utilizing these as well as the standard “wet” signature and “ink” thumb prints. As soon as the State of California makes the switch, we will be completely digital. The loan process will be more streamlined and get you on your way faster than ever!
Unfortunately these changes do come at a cost. Starting Jan. 1st. 2016, loans originating or rewritten will be subject to a raise in rates and fees mandated by The State of California. These updated fees and rates affect ALL pawnshops regulated by the State of California. The fees and rates have not changed in 4 years. We hope our customers understand that the cost of business goes up every year and these fee and rate hikes help us offer you the goods and services that you come to us for. We certainly appreciate your business and wish to continue serving you and our community.