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I recently went to the Cathay Bank branch in Dublin, CA to apply for a mortgage loan and after being declined, I have recieved a letter of a $25 charge for the credit check that was done. NEVER was I told before or during the application process that there would be a credit check fee. Cathay Bank is an unethical bank corportation trying to steal people's money in ANY way possible so be aware of their tricky and mysterious actions! If Cathay Bank tries to steal people's money they must also do other illegal things. It is a mystery why Cathay Bank is one of the few, if not THE ONLY bank in California that also gives you the option of applying for a no-income verification loan (which is what Cathay calls "a Smart Program Loan") DONT DEAL WITH CATHAY BANK to avoid issues!
The complaint has been investigated and resolved to the customer’s satisfaction.
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Currently involved with trying to get my checking account funds transferred by wire to Wells Fargo do the fact that somehow my HSBC account was transferred to Cathay bank without my informed consent. I've already initiated many contacts with the branch manager in Chinatown San Francisco as well as her subordinate so then I escalated to the Los Angeles corporate office where I was not given the email address of the CEO which seems very strange but I was supposedly given the email address of his subordinate. I'm in Mexico but that doesn't matter. I should still be able to get my money which is legally mine as soon as possible immediately. I have the forms from Senator Alex Padilla's office which I have not filled out yet as a privacy authorization form where they would be my representative in dealing with perhaps the FDIC and or the corporate offices of Cathay Bank but whatever you can do to help me on this I would really appreciate it. The woman who answered the phone today in Los Angeles actually had the audacity to tell me that I could send a complaint to the Los Angeles office by snail mail to which I said no that is why email was created because email can be sent worldwide and it's a guaranteed paper trail that the person has to receive it. It also provides free legal protection. I was thinking about having the ATM card sent to me here but because I'm moving around a lot that would not be using common sense which I have. Bottom line is both HSBC and Cathay Bank have my email and they should have sent me an email in advance of when they merged which would have eliminated my embarrassment when trying to buy a $4 item on my ATM card and being declined. If they had sent me an email rather than just relying on snail mail which of course I never received in November or December then I would have been able to do something about it by now because I could have planned ahead but they did not do their due diligence. There are so many other small Banks out there as well as credit unions I would not recommend this one. Apparently they also charge 6 or $7 a month for a checking account even if you have $10,000 in the account plus they charge more fees than other Banks when you're using it in different countries.