Cathay United Commercial Bank Co., Ltd. is a pioneer in Taiwan's financial market, founded in 1975 as United World Chinese Commercial Bank (UWCCB), a joint venture between global Chinese business leaders and the Taipei Bankers Association to support Taiwan's economic development. In 2003, Shihua United Commercial Bank merged with Cathay Commercial Bank to form Cathay United Commercial Bank, headquartered at No. 7, Songren Road, Songshan District, Taipei, Taiwan. As a wholly owned subsidiary of Cathay Financial Holding Co., Ltd. (TWSE: 2882), Cathay United Bank serves more than 6 million customers and is a leader in Taiwan's banking industry with its solid financial performance and innovative capabilities. Here's a comprehensive overview of Cathay United Bank, covering its basic information, deposit and loan products, digital services, technological innovations, unique services, and market position.
Basic Bank Information
Cathay United Bank is a privately owned commercial bank founded in 1975 and headquartered at No. 7, Songren Road, Songshan District, Taipei, Taiwan. Founded by 17 global Chinese business leaders and 17 members of the Taipei Bankers Association, the bank was further expanded in 2003 through a merger with Cathay Commercial Bank. Founded in 2001 and listed on the Taiwan Stock Exchange (stock code: 2882), Cathay Financial Holdings Co., Ltd. is a major shareholder consisting of institutional investors and public shareholders. Cathay United Bank is strictly regulated by Taiwan's Financial Supervisory Commission (FSC) and is required to comply with the Banking Act and international financial standards to ensure operational transparency and the safety of customer funds. Its deposits are protected by Taiwan's deposit insurance system, with a maximum coverage of NT$3 million per depositor. The SWIFT code for the bank is UWCBTWTP and the Legal Entity Identifier (LEI) is 5493006DVOBII1E8FK30. Cathay United Bank has 165 branches in Taiwan and 68 branches in Hong Kong, Chinese mainland (Shanghai, Shenzhen), Singapore, Vietnam, Cambodia, the Philippines, Malaysia, Laos, Myanmar, Thailand and Indonesia, with more than 10,000 employees worldwide.
Deposits & Loans
Deposits
Cathay United Bank offers a wide range of deposit products to meet the savings needs of individual and corporate customers:
Fixed deposits: 12 currencies such as NEW TAIWAN DOLLAR, USD and RMB are supported, with deposit terms ranging from 1 month to 5 years, and the minimum deposit amount is NT$5,000. In 2025, the fixed deposit interest rate will vary according to the maturity, such as about 1.225% for 1 month, 1.5% for 3 months, 1.8% for 6 months, 2.0% for 1 year, and 2.5% for 2 years (based on the average interest rate of the five major banks in Taiwan).
Featured products:
high-yield savings accounts: such as "Cathay Premium Savings Account", which offers an annualized interest rate of up to 1.5%, and needs to maintain a balance of more than NT$100,000 with no monthly fee.
Large Certificates of Deposit (CD): Support flexible tenor, suitable for large amount of money customers, the interest rate needs to be queried through the branch or app, and the early withdrawal penalty is 90 to 180 days of interest.
Customers can check the "Cloud Interest Rate" offer through the "Cathay United China CUBE" app or online banking, and deposit products can be opened and calculated instantly, and some accounts can be offered free of transaction fees.
Demand Deposits: Including checking accounts and savings accounts, such as "Cathay Pacific Savings Account", the minimum account opening amount is NT$1,000, and the base annualized rate of return (APY) is about 0.05%-0.3%, and the latest interest rate (deposit service) needs to be confirmed through branch or online banking
Loans
Cathay United Bank offers a comprehensive range of loan products to meet diverse financing needs:
Mortgages: Fixed- and variable-rate mortgages are available for up to 80% of the value of the property and are repaid over a period of up to 30 years. In 2025, the fixed interest rate will be as low as 1.6% (3-year term), the floating interest rate will be based on the minimum lending rate (MLR, about 5.5%), cash rebates and insurance discounts will be provided, and the application will require a credit score of 660 or more and an annual income of more than NT$30,000 (loan services).
Car Loans: Support financing for new and used cars, with a loan amount of up to NT$3 million, a term of up to 72 months, an annualized interest rate (APR) as low as 1.88%, and a credit score of 660 or above.
Personal Line of Credit: Includes Cathay Personal Loan (APR as low as NT$5.99% and amount up to NT$1.5 million) and asset-backed overdraft (up to NT$95% of collateral market value) with a monthly salary of NT$30,000 or above and a good credit history.
Flexible repayment options: Mortgages and personal loans offer no penalty for early repayment, weekly or bi-weekly payment plans, and a revolving line of credit for flexible debt management.
All loans are subject to bank approval, and customers are required to provide credit history, proof of income and asset information, subject to the terms of the loan agreement. The bank's trade finance services, such as letters of credit and trade loans, provide additional support to cross-border businesses (corporate financial services).
Digital Service Experience
Cathay United Bank's mobile banking app, Cathay United Bank CUBE, is the core of its digital services and is available for download on iOS 14.0 and above and Android 9.0 and above, with an App Store rating of about 4.5 and a Google Play rating of about 4.3, with users praising its quick launch (in less than 2 seconds) and intuitive interface (Cathay United Bank CUBE app).
Face recognition: supports biometric authentication (such as Face ID and Touch ID), combined with strong encryption technology to ensure transaction security.
Real-time transfer: Support real-time transfer of NTD through the Taiwan interbank transfer system, with a daily limit of up to NT$1 million, international remittance covering more than 100 countries, and cooperate with Western Union and other platforms to provide low-rate transfers.
Bill management: Support online bill payment, automatic deduction and e-statement, and classify transaction records in real time.
Investment Tool Integration: Support stocks, funds, bonds and derivatives trading through the Cathay Pacific Investment Platform, providing real-time market data and investment advisory services.
The online banking platform "Cathay United Personal Online Banking" supports multiple browsers and provides similar functions, allowing customers to open an account in less than 5 minutes through the app or official website. The app supports accessibility features such as dynamic font adjustment and VoiceOver compatibility for visually impaired and hearing-impaired customers. Some users reported occasional technical issues, but the bank continued to optimize the user experience (e-banking services).
Technological innovation
Cathay United Bank is actively exploring in the field of financial technology, relying on the technical resources of Cathay Financial Holdings to promote digital transformation:
AI customer service: Introduce an AI-driven customer service system to analyze transaction behavior and detect fraud risks in real time. A virtual assistant is planned to be launched in 2025 to support 24/7 inquiries and personalized financial advice.
Robo-advisor: Provide AI-based investment management services through the Cathay Pacific Investment Platform, recommend diversified investment portfolios based on customer risk appetite, with a minimum investment of NT$1,000 and no subscription fees.
Open Banking API Support: Follows the Open Banking Framework of the Financial Supervisory Commission of Taiwan and integrates with third-party service providers to provide account management and financial services interoperability, especially in the areas of trade finance and cross-border payments.
Other innovations: support for QR code payments, mobile check deposits, and the eTradeConnect platform to simplify trade finance applications; Launched online foreign currency exchange service, which allows customers to book foreign currency and collect it at designated branches through online banking; Partner with Adobe Analytics and Adobe Target to elevate data-driven customer experiences. In 2024, the bank will invest NT$3 billion to upgrade its cloud technology and data analytics platform to improve operational efficiency.
Featured Services & Differentiation
Cathay United Bank is known for its local service and internationalization capabilities:
SME support: Provide customized loans and cash management services through Cathay Pacific SME Services, participate in the SME Financing Guarantee Program of the Taiwan Financial Supervisory Commission, and obtain loan approval in as fast as 10 seconds and up to NT$3 million (SME Services).
International presence: 68 branches in Hong Kong, Chinese mainland (Shanghai, Shenzhen), Singapore, Vietnam, Cambodia, the Philippines, Malaysia, Laos, Myanmar, Thailand and Indonesia to support trade finance (international services) in countries along the "Belt and Road".
Sustainable Finance: In 2015, it signed the Equator Principles, and in 2018, it became the first bank in Taiwan to commit to the United Nations Principles for Responsible Banking, launched green bonds and preferential rate loans to support environmentally friendly projects, and won the "Taiwan Green Finance Pioneer Award" in 2023.
Wealth Management: Provide individual pension funds, unit trusts and insurance products, integrate with the global investment market, and meet the needs of high-net-worth customers (wealth management).
Community Contribution: Through the Cathay Foundation, we will support education and charity projects, donate NT$5 million for community development in 2023, hold financial literacy lectures, and improve the financial literacy ability of young people.
Market Position & Accolades
Cathay United Bank is one of the leading commercial banks in Taiwan, with total assets of approximately NT$12.07 trillion in 2024, ranking among the top banks in Taiwan. With 165 branches serving more than 6 million customers, the bank is a market leader in SME and retail banking. Its international presence covers Asia, and it ranks high on the Forbes Global 2000 list in 2023. Key accolades include:
The Asian Banker 2023 "Best Retail Bank in Taiwan".
2022 Greenwich Associates SME Customer Experience Award.
The 2023 "Best Employer" certification recognizes performance in employee development and community support.
2023 "Taiwan Green Finance Pioneer Award".
Cathay United Bank's solid financial performance and innovative capabilities have made it a leader in the financial markets of Taiwan and the region.
Conclusion
Cathay United Commercial Bank Co., Ltd. has become a pioneer in Taiwan's financial market with its historical heritage, international business layout and innovative financial services. It offers a wide range of deposit and loan products, including high-yield savings accounts, term deposits, and flexible mortgages and personal loans, to meet the diverse needs of its customers. In terms of digital services, the Cathay United CUBE app has been well received for its efficient real-time transfer and investment management functions. Technological innovations, including AI customer service, robo-advisors, and open banking API support, demonstrate its forward-looking digital transformation. With its SME support, international presence, commitment to sustainable finance, and multiple industry accolades in 2023, Cathay United Bank continues to demonstrate strong competitiveness and influence in the financial markets of Taiwan and the region.
Note:
specific interest rates and product details may vary due to market changes, please check with Cathay United Bank for the most up-to-date information on the Cathay United Bank website or directly with your bank.
