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Foreign Exchange Service

If you have payables or receivables in foreign currency, or need to transfer funds internationally, or simply want to invest in foreign currency. Cathay Bank offers specialized services to assist you in managing your foreign exchange exposure.

We offer spot and forward contracts to facilitate your unique foreign exchange needs in a timely manner. With no extra fee and our favorable exchange rates, you will have greater flexibility in pricing your payables or receivables while staying competitive in today's global marketplace. By using the same instruments, you may also secure favorable exchange rate for your foreign currency investment.

As a major Chinese-American bank in the foreign exchange market, our knowledgeable and experienced foreign exchange specialists are able to assist you with prompt, personal and professional services.


Foreign Exchange Department Contact Information

Foreign Exchange Corporate Dealer
Toll Free:
1-866-228-4299


Spot Contract

It allows for the settling and delivery of your foreign exchange transactions within two business days.

Forward Contract 1

It allows you to lock-in an exchange rate to buy or sell a specific amount of foreign currency for delivery on a future date. You may also choose to settle on any day within a pre-agreed time period.

Non Deliverable Forward (NDF) Contract 1

The NDF provides protection for companies that have currency exposure with emerging market countries that have currency restrictions. The NDF is similar to a forward contract. The key difference is that settlement of the contract is made, not by actual delivery of the currencies, but by taking the difference between the agreed rate and an official "fixing rate" to determine the net settlement amount in US dollars. The USD settlement provides protection in the volatility of emerging market currencies, such as Chinese Yuan and New Taiwanese Dollar.

Foreign Currency Option 1

An agreement where the option buyer has the right, but not the obligation, to buy or sell foreign currency at a specified price on a specific date by paying an option premium. Currency Options provide protection and flexibility as it allows buyer to take advantage of favorable movements in the exchange rate.

Foreign Currency Time Deposit 2

If you are thinking of diversifying your existing investment portfolio, our foreign currency time deposit can be an alternative investment. It allows you to take advantage of the interest rates and any favorable fluctuations in currency exchange rates. At Cathay Bank, we offer a wide choice of foreign currencies at competitive rates to meet your investment needs. Our flexible terms are from 7 days to 12 months. You can easily open a time deposit with no transaction or commission fee. Foreign currency time deposits are FDIC insured 3.

Multi-Currency Call Account (MCA)

It is a foreign currency denominated account in a wide variety of currencies. This account is ideal for customers who have foreign currency funds and do not want to convert them to US dollars. Opening a Multi-Currency Call Account gives you the flexibility to receive and to make payments in foreign currency in the form of remittance transfer. Multi-Currency Call Accounts are FDIC insured 3.

Foreign Currency Banknote (Cash) Exchange and Foreign
Currency Travelers Checks

If you need to exchange a foreign currency banknote for your next vacation or business trip, we offer currency exchange service for more than 60 major foreign currencies. We also buy/sell major currency travelers checks at a nominal transaction fee. At Cathay Bank, we are dedicated to providing competitive exchange rates along with efficient and personal services. Our most popular exchanges are:


  • Australian Dollar

  • British Pound

  • Canadian Dollar

  • Chinese Yuan

  • EURO

  • Hong Kong Dollar

  • Japanese Yen

  • Mexican Nuevo Peso

  • New Taiwanese Dollar

  • New Zealand Dollar

  • Singapore Dollar

  • Swiss Franc

With an extensive international correspondent bank network. Cathay Bank has invaluable resources for your foreign exchange and investment needs. For more information, please call our Foreign Exchange Department at (626) 279-3235 or Foreign Exchange service hotline at (866) 228-4299; or visit any Cathay Bank Branch for details.

1 This service may not be available to all customers, please ask Foreign Exchange Department for details.
2 Fluctuations in exchange rates of foreign currencies may reduce principal.
3 FDIC insurance for deposits denominated in a foreign currency shall be determined and paid in the amount of U.S. Dollars that is equivalent in value to the amount of the deposit denominated in that foreign currency as of the close of business on the date of default of the insured depository institution, up to the amount from time to time established by law. FDIC insurance does not protect you from foreign exchange risk.        


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1-800-9CATHAY

(1-800-922-8429)

Customer service: 6:00 a.m. - 6:00 p.m. Pacific Time, Monday through Friday.

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