What to do when a Cathay Bank account holder dies
Contact Cathay Bank's Cathay Wealth Management (Cetera Investment Services LLC) -- wealth transfer and estate planning advisory; Cathay Bank does not operate a trust department — 6-step process, 8 required documents, and branch review begins once the certified death certificate and matching ownership document are submitted. accounts may stay frozen until cathay bank has proof satisfactory to it of each claimant's right to the funds, so an estate that has to wait for letters (or for the 40-day california probate code 13100 waiting period) will run to that timeline rather than the bank's.
Cathay Bank Customer Service Center
Phone626-582-7380
Toll-Free1-800-922-8429
Mailing Address
Cathay Bank, 777 North Broadway, Los Angeles, CA 90012
Overseas customers
U.S. customers calling from Hong Kong (toll-free)
Foreign Exchange Department
WebsiteLearn more→
Cathay Wealth Management (Cetera Investment Services LLC) -- wealth transfer and estate planning advisory; Cathay Bank does not operate a trust department
Phone1-877-722-8429
WebsiteLearn more→
Cathay Bank Customer Service Center -- deceased account holder and estate matters (no separate claims department; branches handle estate documentation)
Phone626-582-7380
Toll-Free1-800-922-8429
Mailing Address
Cathay Bank, 777 North Broadway, Los Angeles, CA 90012
Loan servicing (mortgage / HELOC Successor in Interest)
WebsiteNotify online→
Verified Jul 2026
When a Cathay Bank account holder passes away, the next step depends on how the accounts were set up. Accounts with beneficiary designations or trust ownership transfer outside of probate. Accounts titled solely in the deceased's name require the estate's legal representative to work with Cathay Bank's Cathay Wealth Management (Cetera Investment Services LLC) -- wealth transfer and estate planning advisory; Cathay Bank does not operate a trust department (626-582-7380) to access and distribute the funds.
Cathay Bank provides an online portal for initiating death claims, which can simplify the initial notification and document submission process. Claims can also be started by phone or by mailing the required documents.
Deposit, investment & retirement accounts
Here is the step-by-step death claim process at Cathay Bank:
Filing a claim
1
Notify Cathay Bank immediately -- the Deposit Account Agreement (Section 16, Death or Adjudication of Incompetence) requires notice of the death of any account holder, authorized signer, or designated beneficiary. Call the Customer Service Center at 1-800-922-8429 or visit a branch (https://www.cathaybank.com/location)
2
Expect the account to be restricted while ownership is sorted out. Under Section 16 Cathay Bank may:
- Freeze all or part of the account pending proof (satisfactory to the bank) of each person's right to the funds
- Freeze, offset, refuse, and/or reverse deposits and transactions -- explicitly including government or retirement benefit payments payable to the deceased, so a Social Security or pension deposit that arrives after the date of death can be pulled back
- Require the other account holders to reimburse it for funds removed from the account after the death if it is obligated to return them
3
Settle the account according to how it is titled -- Cathay Bank has no single "estate claim" form; the branch works from the account's ownership record:
- P.O.D. account: the payee becomes the account holder at the last owner's death. Bring a certified death certificate and your photo ID
- Totten Trust account: at the trustee's death the account is owned by the named beneficiary or beneficiaries. Bring a certified death certificate and your photo ID
- Joint account with right of survivorship: the deceased owner's interest passes immediately to the surviving owner(s); bring a certified death certificate to remove the decedent
- Joint account without survivorship (tenants in common): the deceased owner's proportionate share passes to their estate and requires the estate paperwork below
- Formal Trust account: the successor trustee brings a certified death certificate, the Certification of Trust or full trust agreement, all amendments, and photo ID
- Individually owned account with no P.O.D., Totten Trust, or survivorship: bring Letters Testamentary or Letters of Administration and the personal representative's photo ID -- Cathay Bank's Fiduciary Accounts clause lets it require whatever documents and authorizations it deems necessary to satisfy itself that the person withdrawing has the authority to do so
- IRA CD: the named IRA beneficiary completes Cathay Bank's IRA distribution paperwork; a trust named as IRA beneficiary is claimed by the trustee with the trust documentation
4
For a small California estate with no probate, the statutory affidavit path may avoid Letters entirely:
- California Probate Code Section 13100 lets a successor collect a decedent's personal property, including bank deposits, by affidavit when the gross value of the decedent's California real and personal property does not exceed the statutory limit
- The affidavit cannot be presented until 40 days have passed since the date of death
- Cathay Bank's Fiduciary Accounts clause still lets the branch require supporting documentation before releasing funds
5
Submit the documents at a branch or mail them to Cathay Bank, 777 North Broadway, Los Angeles, CA 90012 -- there is no online claims portal and no downloadable estate claim form
6
Cathay Bank reviews the documentation and pays out according to the account title and the account-ownership rules for the state in which the account is domiciled
Required Documents
- Certified copy of the death certificate
- Valid government-issued photo ID for the claimant (P.O.D. payee, Totten Trust beneficiary, surviving joint owner, successor trustee, or personal representative)
- Account number, passbook, or a recent statement identifying the account
- For a Formal Trust account: Certification of Trust signed by all trustees with applicable excerpts, or a full copy of the trust agreement, plus all amendments
- For an individually owned account with no P.O.D., Totten Trust, or survivorship: Letters Testamentary or Letters of Administration
- For a qualifying small California estate: an affidavit under California Probate Code Section 13100, presentable only after 40 days have passed since the date of death
- For an IRA CD: Cathay Bank's IRA beneficiary distribution paperwork, requested from the branch
- For a mortgage or HELOC: the Successor in Interest package from the Loan Servicing Department
What to know at this institution
Cathay Bank does not run an estate claims portal and does not publish an estate claim form; deceased-account matters are handled at a branch or through the Customer Service Center at 1-800-922-8429. Section 16 of the Deposit Account Agreement is the operative clause: it obligates you to notify the bank immediately of the death of any account holder, authorized signer, or designated beneficiary, and it lets Cathay Bank freeze, offset, refuse, and reverse deposits and transactions -- explicitly naming governmental and retirement benefit payments payable to the deceased. If the bank is obligated to return funds removed from the account after the death, the other account holders agree to reimburse it, so a joint owner who spends down the account before the death is reported takes on personal exposure. Where the bank has any question about who owns the funds, it may freeze all or part of the account until it receives proof satisfactory to it of each person's right to them. The Fiduciary Accounts clause independently reserves the bank's right to require whatever documents and authorizations it deems necessary from an estate, guardianship, or conservatorship claimant, at account opening and at all times afterward. Payout rules for multiple P.O.D. payees differ by the state in which the account is domiciled (CA/MA/MD/WA, IL, NJ, TX, NV each have their own section in the agreement). Accounts left inactive can be escheated to the state under its unclaimed property law, after which the claim must be filed with the state rather than with Cathay Bank -- one reason to report a death promptly. Cathay Bank does not act as a corporate trustee; estate-planning and wealth-transfer advisory is provided through Cathay Wealth Management (Cetera Investment Services LLC, member FINRA/SIPC) at 1-877-722-8429.
Mortgage and home lending
Mortgages and home equity loans are liabilities, not assets. They do not have beneficiaries and cannot be retitled to a trust. When a borrower dies, the loan obligation transfers with the property to whoever inherits it. Under the federal Garn-St. Germain Act, the lender cannot accelerate the loan or call it due when the property transfers to a surviving spouse, child, or the borrower’s revocable trust.
1
Notify Cathay Bank of the borrower's death by calling the Customer Service Center at 1-800-922-8429 and asking for loan servicing
2
Provide initial information:
- Deceased borrower's full legal name and loan number
- Certified copy of the death certificate
3
Request the Successor in Interest documentation package from the Loan Servicing Department
4
Complete and return the Successor in Interest package with documentation proving your ownership interest in the property (probated will, court order, recorded deed, or trust document naming you as successor trustee or beneficiary)
5
Mail loan servicing correspondence to Cathay Bank, Loan Servicing Department RS-16, 9650 Flair Drive, El Monte, CA 91731 (the address Cathay Bank publishes on its Contact Us page for loan servicing and credit disputes)
6
Cathay Bank will review your documentation and confirm your status as a Successor in Interest
7
Once confirmed, discuss available options:
- Continue making payments on the existing loan
- Apply for loss mitigation
- Assume the loan, refinance, or pay off the balance
8
Send mortgage payments during the review to Cathay Bank loan payments, P.O. Box 80426, City of Industry, CA 91716-8426, so the loan does not fall into default
Required Documents
- Certified copy of the death certificate
- Government-issued photo ID for the heir or personal representative
- Completed Successor in Interest package (obtained from the Loan Servicing Department)
- Documentation proving ownership interest in the property: probated will, court order, recorded deed, or trust document showing you as successor trustee or beneficiary
- Letters Testamentary or Letters of Administration (if going through probate)
- Marriage certificate (if surviving spouse)
Claims Contact
Phone: 1-800-922-8429
Cathay Bank, Loan Servicing Department RS-16, 9650 Flair Drive, El Monte, CA 91731
What to know at this institution
Under the federal Garn-St. Germain Depository Institutions Act (12 U.S.C. 1701j-3), Cathay Bank cannot enforce a due-on-sale clause when the property transfers to a surviving spouse, child, relative upon death, or the borrower's revocable living trust. Confirmed Successors in Interest are treated as borrowers under the CFPB mortgage servicing rules and are entitled to account information, loss mitigation review, and assumption. Cathay Bank publishes separate addresses for loan payments (P.O. Box 80426, City of Industry, CA 91716-8426) and loan servicing correspondence (RS-16, 9650 Flair Drive, El Monte, CA 91731); sending Successor in Interest paperwork to the payment lockbox will delay the review.
Prepare your letter of instruction to Cathay Bank
Cathay Bank accepts a claimant-drafted letter of instruction. We draft it for you — addressed to Cathay Bank's verified claims department, with the documents it requires enclosed.
Build your letter of instructionOpening an account for the estate itself
Checks made out to the estate deposit into an account titled to the estate, opened by the appointed executor or administrator under the estate's EIN.
How to open an estate account at Cathay Bank →How long the process takes at Cathay Bank: Branch review begins once the certified death certificate and matching ownership document are submitted. Accounts may stay frozen until Cathay Bank has proof satisfactory to it of each claimant's right to the funds, so an estate that has to wait for Letters (or for the 40-day California Probate Code 13100 waiting period) will run to that timeline rather than the bank's. The most common reason for delays is missing or incomplete documentation, so submitting everything upfront is the best way to keep things moving.
Cathay Bank requires several documents to process a claim, including Certified copy of the death certificate, Valid government-issued photo ID for the claimant (P.O.D. payee, Totten Trust beneficiary, surviving joint owner, successor trustee, or personal representative), and Account number, passbook, or a recent statement identifying the account, and additional documentation depending on the account type. Certified copies are typically needed—photocopies are generally not accepted for death certificates or court documents.
Frequently asked questions
No. A Totten Trust at Cathay Bank is an informal trust account reflected on the bank's records with no written trust agreement behind it, offered on accounts domiciled in CA, IL, MA, MD, NY, NV, and WA. You hold and control the funds as trustee during your lifetime; when the trustee dies the account is owned by the named beneficiaries, outside probate. Functionally it is a payable-on-death arrangement and it can extend FDIC coverage through the beneficiary designations. It is not a funded living trust: it moves one account at your death and gives you no control over timing, conditions, or a successor trustee. If you want the account inside your living trust, ask for a Formal Trust Account instead.
Section 16 of the Deposit Account Agreement requires you to notify Cathay Bank immediately of the death of any account holder, authorized signer, or designated beneficiary. On notice, the bank may freeze all or part of the account until it has proof satisfactory to it of each person's right to the funds, and it may freeze, offset, refuse, and reverse deposits and transactions -- explicitly including governmental and retirement benefit payments payable to the deceased, so a benefit deposit that lands after the date of death can be pulled back. If the bank must return funds that were removed from the account after the death, the other account holders agree to reimburse it. Settlement then follows the account title: a P.O.D. payee or Totten Trust beneficiary takes the account with a certified death certificate and photo ID; a surviving joint owner with right of survivorship keeps the account; a successor trustee claims a Formal Trust Account with the trust documentation; and an individually owned account with no beneficiary needs Letters Testamentary or Letters of Administration. There is no claims portal and no downloadable claim form -- call 1-800-922-8429 or go to a branch.
Call 1-800-922-8429 and ask for loan servicing, then request the Successor in Interest package. Under the federal Garn-St. Germain Act (12 U.S.C. 1701j-3), Cathay Bank cannot accelerate the loan when the property transfers to a surviving spouse, child, relative upon death, or the borrower's revocable living trust. Once confirmed as a Successor in Interest you can continue payments, apply for loss mitigation, assume the loan, refinance, or pay it off. Send the paperwork to Cathay Bank, Loan Servicing Department RS-16, 9650 Flair Drive, El Monte, CA 91731 -- not to the deposit-account address and not to the payment lockbox (P.O. Box 80426, City of Industry, CA 91716-8426), which is only for payments.
Cathay Bank's Cathay Bank Customer Service Center -- deceased account holder and estate matters (no separate claims department; branches handle estate documentation) can be reached by phone at 1-800-922-8429 for questions throughout the claims process.
If the deceased held multiple Cathay Bank accounts, each may require a separate claim or have different documentation requirements. The Cathay Wealth Management (Cetera Investment Services LLC) -- wealth transfer and estate planning advisory; Cathay Bank does not operate a trust department can confirm which accounts require individual attention and which can be processed together.
Sources
Data sourced from Cathay Bank primary sources (21 pages reviewed). How we research.
Cathay Bank Customer Service Center
Phone626-582-7380
Toll-Free1-800-922-8429
Mailing Address
Cathay Bank, 777 North Broadway, Los Angeles, CA 90012
Overseas customers
U.S. customers calling from Hong Kong (toll-free)
Foreign Exchange Department
WebsiteLearn more→
Cathay Wealth Management (Cetera Investment Services LLC) -- wealth transfer and estate planning advisory; Cathay Bank does not operate a trust department
Phone1-877-722-8429
WebsiteLearn more→
Cathay Bank Customer Service Center -- deceased account holder and estate matters (no separate claims department; branches handle estate documentation)
Phone626-582-7380
Toll-Free1-800-922-8429
Mailing Address
Cathay Bank, 777 North Broadway, Los Angeles, CA 90012
Loan servicing (mortgage / HELOC Successor in Interest)
WebsiteNotify online→
Verified Jul 2026
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