About Tambunting pawnshop
Pawnshops are a good alternative to the high cost of items you want to buy and offer a great way to sell items you no longer need. Tambunting pawnshop focuses on buying and selling jewelry, lending money, and accepting jewelry, electronics, or appliances as collateral. They also accept real estate mortgages and stock pledges.
Don Ildefonso Tan Bunting founded Tambunting pawnshop in 1906 as Casa Agencia de Empeos de Ildefonso Tam Bunting. There are over 1000 outlets in the country since it has diversified from a pawnshop to offering more services like money transfer services, bill payment services, and currency exchange offices. It also provides loans secured by jewelry, electronics, household appliances, equities, and Sangla.
Pros and cons
Pawnshop can enable you a chance to get cash conveniently or where you can buy unique items at an affordable fee, but there are also drawbacks associated with it. A pawnshop can also be one of the cheapest ways to get money, but it's also one of the riskiest. You need to make sure that the store you're using is reliable and has a good reputation area before using them. You should also check the licensing status of the company so that you can find out if they're operating in your area. If the business is not licensed, there are likely no guarantees about how much money you'll get back from it or if your item is safe in their custody.
Therefore, before deciding to utilize a pawnshop service, you should always consider its advantages and disadvantages. Here are Tambunting pawnshop's pros and cons.
Pros
You can sell items at a pawnshop and receive cash in less than 24 hours, which can be used toward other purchases or bills.
They offer many products, including loan and bill payment services.
The Tambunting pawnshop customer care is always available to help you.
Cons
You only have four months to pay off your loan, or your items are auctioned.
You cannot set up a Tambunting pawnshop franchise if you are interested in investing or owning one.
Products
Tambunting pawnshop offers the following products and services.
- Pawnshop services. At a monthly interest rate of 4%, you can pawn off items like silver, gold, cell phones, digital cameras, DSLRs, laptops, netbooks, tablet PCs, gaming consoles, flat-screen TVs, video cameras, designer watches, motorcycles, and scooters. The approval time is two hours, and the repayment period is up to four months.
- Pera Padala. Tambunting money transfer points make transactions easier for Filipinos, which is made possible by collaborating with payment platforms such as Gcash Remit, Transfast, Smart Padala, Palawan Express Pera Padala, and Western Union.
- Pawn loan. Tambunting has a loan processing partnership with GrabExpress. It allows you to estimate how much your item is worth without having to present it to the pawnshop, and the appraiser sends you an email with an estimated value of the pawns. When you accept the evaluator's recommendation, you send the pawn to the Tambunting office using GrabExpress at no cost, and you can also follow its progress in real-time. The products are then appraised, and the quotation is sent through email before Tambunting can transfer the money to you within 24 hours. Then, when applying for a pawn loan, the amount is determined by the collateral value but does not exceed ₱100000 . When the loan is authorized, Tambunting will charge an interest rate of 2%. If you do not repay the debt within three weeks, the pawn is auctioned off.
- Bayan family protect. Tambuting, in collaboration with BPI-Philam, provides personal insurance for ₱30-₱60 and family insurance for ₱90, up to 5 members.
- Auction Sale. When debtors fail to redeem their pawned assets by paying the applicable interest and penalties, Tambunting auctions the items.
- ECPay Bills Payment platform. You can pay your bills like water, electricity, cable, internet, telecommunication, loan payments, loading services, insurance payments, cash reloading BPI Banko, Cash Agad, Coins. PH, GCash, Smart Padala,Transfast, Palawan Express Pera Padala, Western Union and Paymaya. You can also pay for airline tickets, and credit card payments for banks like BPI, Metro Bank, and AUB through Tambunting outlets.
