How to name beneficiaries and fund a trust at Cathay Bank
Covers 11 deposit, 2 retirement, and 2 lending accounts — beneficiaries must be updated in-branch
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
There are two ways to keep your Cathay Bank accounts out of probate: adding beneficiary designations and retitling eligible accounts into a revocable living trust. Which approach works best depends on the account type and your overall estate plan.
Cathay Bank has 15 product types, and the estate transfer rules differ across them. Some support Payable on Death (POD) designations, some can be retitled into a trust, and others will require probate if nothing is set up. Each is covered below.
Everyday CheckingPersonal CheckingCathay ValuePlus CheckingStudent Advantage CheckingCathay Teen BankingPassbook SavingsStatement SavingsStudent SavingsSmart Money MarketOptima Money MarketCertificate of Deposit
1
Visit any Cathay Bank branch (locations: https://www.cathaybank.com/location) with a valid government-issued photo ID
2
Tell the banker which structure you want, since Cathay Bank offers three different ones on the same deposit products:
- P.O.D. account -- account is payable to you during your lifetime and to the named payee(s) at your death
- Totten Trust account -- an informal trust reflected on bank records with no written trust agreement; you hold it as trustee and the named beneficiaries take ownership at your death
- Formal Trust account -- the account is titled to your written trust and held by the trustee(s)
3
Provide details for each beneficiary or payee:
- Full legal name
- Date of birth
- Social Security number
- Allocation percentages if naming more than one
4
Sign the updated account agreement or signature card; the written, signed direction is what makes the change effective
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Cathay Bank publishes no downloadable P.O.D. or IRA beneficiary form; the paperwork is obtained at a branch or by calling 1-800-922-8429
- Under the Deposit Account Agreement, a P.O.D. payee may be changed only by written direction to the bank
- Formal trust accounts require a Certification of Trust signed by all trustees, supported by applicable excerpts from the trust agreement, or a full copy of the trust agreement
- How multiple P.O.D. payees take the account depends on the state where the account is domiciled: in CA, MA, MD, and WA surviving payees take in equal shares unless the bank's records say otherwise; in IL surviving payees hold as tenants in common with no right of survivorship, and if no payee survives the proceeds vest in the estate of the last surviving account holder
- Accounts domiciled in NJ are governed by the Multiple Party Deposit Account Act (N.J.S.A. 17:16I-1 et seq.); accounts domiciled in TX use the TX Uniform Single/Multiple Party Account Selection Form signed at account opening
- IRA CD beneficiary changes require a separate IRA beneficiary designation form
- The Deposit Account Agreement requires you to notify Cathay Bank of the death of any account holder, authorized signer, or designated beneficiary -- including the death of a beneficiary you named
Sources
Data sourced from Cathay Bank primary sources (21 pages reviewed). How we research.
Download these Cathay Bank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Cathay Bank primary sources. Bring it to the branch or keep it beside the phone.
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
Estate planning articles
Learn how to protect your Cathay Bank accounts and other assets with trusts, beneficiary designations, and estate planning documents.
