Foreign Currency Account (Cathay Bank)

Cathay Bank provides foreign currency accounts and remittance services, enabling individuals and businesses to manage and transfer funds in various currencies. They offer competitive exchange rates and online access to accounts, along with risk management solutions for foreign exchange exposure.

Cathay Bank offers a Multi-Currency Call Account (MCA) and Foreign Currency Time Deposit (FCTD) which allows users to hold and manage balances in multiple currencies. They also offer foreign currency remittance services with competitive exchange rates, implying transparent fees. While they don't explicitly state 'mid-market exchange rate', they emphasize 'competitive rates'. The website mentions 'FX Online' for managing accounts on the go, suggesting a mobile app or online platform. As a regulated bank, regulatory compliance is inherent. They also provide customer support via phone and email. However, they do not offer a borderless debit card, nor do they explicitly mention fast transfer execution in minutes/hours, or specific business features like batch payments or API integration as core offerings for this product.