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COVID-19 update

Coronavirus update

Your health and well-being remain our top priority during this uncertain time of the COVID-19 novel coronavirus. We are continuously monitoring the situation to ensure we are able to quickly respond to any updates from the Centers for Disease Control and Prevention (CDC) regarding this rapidly evolving pandemic.

 

What we are doing

We have implemented a series of protocols to make your banking experience with us as safe as possible, including increasing the frequency of cleaning and sanitizing our facilities, installing hand sanitizer stations in our branches, implementing social distancing protocols, and adhering to state and local governing agencies’ requirements for masks/facial coverings for our customers and our employees.

Our relationship bankers remain readily available to you via telephone and email. In addition, our customer service representatives are available to answer your questions:

Monday – Friday, at 800-922-8429, as follows:

  • Consumer customer service: 6 a.m. – 7:30 p.m. PT
  • Business customer service: 6 a.m. – 6 p.m. PT

U.S. customers in Hong Kong can dial 3710-1400 toll-free to contact U.S. customer service directly — and automated customer service information is available anytime 24/7.

 

What to expect when you visit a Cathay Bank branch or office

We ask you to follow the best practices identified below:

  • Practice social distancing and stay at least 6 feet away from other people as much as possible.
  • Wear a face covering over your mouth and nose unless you fall under an exemption in your community.
  • Do not enter if you have a cough, shortness of breath, difficulty breathing, fever or chills or if you are currently under quarantine or isolation.
  • Clean your hands frequently with available hand sanitizer after contact with surfaces.

 

Hardship assistance

To support our customers and communities, we have implemented temporary measures to provide assistance to persons who have experienced an economic impact caused by COVID-19.

 

For mortgage customers

Mortgage Payment Deferrals: If you are experiencing financial hardship as a result of COVID-19, you may be eligible for our payment deferment plan to delay your payments for up to 90 days with no negative credit reporting and no late fees. Some mortgages may be eligible for additional payment deferrals. To request assistance, please contact us Monday - Friday from 8:00 a.m. – 6:00 p.m. PT at the below number:

Due to high demand, call wait times may be longer than normal and we thank you for your patience as we work on this together.

 

For businesses

Every one of our business customers is unique, and we have a variety of tools to help those impacted by COVID-19. Please contact your Relationship Manager to discuss options that can help you and your business.

  • Small business economic injury disaster: The SBA is assisting businesses to apply for Economic Injury Disaster Program loans. Additional resources and information about disaster program loans in your state can be found at disasterloan.sba.gov/ela/.

 

Credit card

Cathay Bank branded credit cards are serviced through Pinnacle Financial Partners. Pinnacle cardmember services may be reached at 1-855-401-4743.

 

Suspension of excess withdrawal fees

Cathay Bank strives to continue helping our loyal customers at a time when access to their funds is critical, and is continuing to temporarily suspend all “excess withdrawal” fee(s) on money market and savings accounts for consumers and businesses, when customers exceed the transaction limits. 

We will continue to monitor savings and money market account withdrawal activity and reserve the right to convert these interest-bearing accounts to checking accounts consistent with our existing account Terms and Conditions.

 

What you can do

The most important step you can take is to be informed, to be able to protect yourself and your family. We suggest visiting the CDC website — CDC.gov — for updates.

From a banking perspective, if you have enrolled in online banking, you can access and manage your accounts from your mobile device, tablet or computer — checking balances, transferring funds, making deposits and more without visiting a branch. If you have not yet enrolled, you can click here to register for personal online banking or call our customer service for assistance.

You may also choose to use one of our ATMs or surcharge-free ATMs within the PULSE Select®/Money Pass® network. Click here for ATM locations.

Use our mobile banking to make deposits while staying safe at home. To make it more convenient for you, we are continuing the temporary increase to our mobile deposit limits for consumers and businesses. These increased limits will remain in effect through December 31, 2020. All other existing terms and conditions related to mobile deposit remain in effect:

Consumer mobile deposit

Per deposit limit

$10,000

Daily limit

$10,000

Maximum number of checks / business day

10

 

Business mobile deposit

Per deposit limit

$10,000

Daily limit

$10,000

Maximum number of checks / business day

10

Monthly total deposit limit (rolling)

$40,000

 

Be alert for scams

Various consumer agencies are issuing bulletins and warnings related to scams and other fraudulent activity preying on everyone’s fears and concerns about COVID-19. Click here to learn more.

 

We are in this together

We remain focused on supporting you and your loved ones during this uncertain time. We will do all we can as a bank to ensure your continued safety — and we are here for you if you have questions or concerns.

 

Cathay Bank

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Please do not include sensitive information such as account numbers or other personal information such as Social Security or Tax Identification numbers, driver’s license numbers, etc. in any email sent to us via this link.