Cathay United Bank (Singapore Branch) ("CUBSG") has launched the use of Docusign, Inc. ("Docusign")'s Intelligent Agreement Management platform for selected banking documents ("Banking Documents") as part of our Phase 1 digital rollout ¹. This enhancement is designed to provide you with a faster, more secure, and highly convenient transaction experience while lowering your carbon footprint by reducing the need to print such Banking Documents.
This enhancement enables you to complete details, review, amend and sign the Banking Documents securely online, eliminating the need to print the Banking Documents and the need for physical "wet-ink" signatures, thus significantly accelerating turnaround times for your transactions.
Key Benefits for You
Greater Convenience: Review and sign documents simultaneously anytime, anywhere, on any device.
Faster Turnaround: Significantly shortened processing and completion time for transactions.
Enhanced Security: Strong authentication, advanced encryption, and a full digital audit trail.
Real-time Tracking: Automatic notifications are provided when documents are sent, pending, or completed.
Your documents will begin arriving from our authorized email channels. Please note that this change only affects the process of completion of details in the Banking Documents and the signing process. There are no changes to existing terms and agreements.
To address your queries, we have prepared a set of frequently asked questions as follows. In the event you have any other queries, please do not hesitate to contact your relationship manager.
Frequently Asked Questions (FAQ)
Is DocuSign secure?
Yes. The login and signing process uses secure, encrypted access envelopes, with two factor authentication (involving one-time access codes), complete with a detailed audit trail to protect the integrity and security of your documents and information.
Do clients need to pay for this service?
No. This service is provided to all clients at no additional cost.
Which clients are eligible for this service?
All clients of CUBSG, both individuals and corporates.
Which documents are included in Phase 1 rollout of this service?
A selected set of high-usage documents are included in this initial phase, including the following:
| Corporate Banking | Private Banking |
|---|---|
| Account Opening Form | Account Opening Forms (Corporate / Individual) |
| Remittance Application Form | Accredited Investors Opt-In Forms/ Investment Risk Profile Questionnaires / Derivative Product Knowledge & Experience Assessment Forms/ Vulnerable Client Declaration Forms/ W-8BEN/ W-8BEN-E |
| Time Deposit Instruction Form | Private Banking E-banking forms |
| Global MyB2B Service / Integration Applications |
More documents will be progressively added in later phases.
Do clients need to sign up with Docusign, have a Docusign account or download any Docusign app?
No. Clients only need to have access to an email address, along with a valid contact number registered with CUBSG.
Is there any preparation or action required by clients for this service?
No, other than providing CUBSG with the registered email address and contact number of the information providers (individuals responsible for completion of the details and information in the relevant forms) and authorized signatories of the clients.
What if an authorized signatory is overseas?
As long as the authorized signatory has access to the registered email address and a valid contact number with access to the internet, they can still receive the secure signing envelope and complete the transaction remotely, regardless of location.
Is signing using the Docusign platform enforceable?
Yes, signing using Docusign platform is a form of electronic signing and is generally permitted and enforceable under Singapore law, pursuant to the Singapore Electronic Transaction Act 2010 ("ETA"), save for certain exceptions as stated in the ETA.
Can I still request for wet-ink signing?
Yes. For documents that require a wet-ink signature whether pursuant to applicable laws or as required internally by CUBSG, wet-ink signing remains available. In all other circumstances, wet-ink signing also remains available upon request, although CUBSG encourages all clients to sign using the Docusign platform to enjoy the benefits stated above.
For More Information
You may watch this video for guidance: YouTube Link
¹ Phase 1 Rollout: The initial DocuSign implementation focuses on high-impact forms, including Account Opening Forms, Private Banking E-Banking forms, Accredited Investors Opt-In Forms, Investment Risk Profile Questionnaires, Derivative Product Knowledge & Experience Assessment Forms, Vulnerable Client Declaration Forms, W-8BEN, W-8BEN-E, Remittance Application Forms, and the Global MyB2B Service Application/Agreement. We will progressively integrate additional forms across the bank in subsequent phases.