JETCO
Encyclopedia
JETCO (full name: Joint Electronic Teller Services Limited) is the biggest network of automatic teller machines in Hong Kong
and Macau
, with nearly 1,700 cash machines.
(now Bank of China (Hong Kong)
) in 1982 along with the Bank of East Asia
, Chekiang First Bank
, Shanghai Commercial Bank
and Wing Lung Bank
, and at present covers all banks in Hong Kong and Macau, except for HSBC and Hang Seng Bank
, which uses a separate system known as ETC.
network in Mainland China
: JETCO cardholders can withdraw RMB
cash at UnionPay machines in a number of major cities in Mainland China, while UnionPay cardholders can withdraw HK$ cash (no more than HK$5,000 per day) at JETCO machines in Hong Kong. However, after 1 January 2006, JETCO cardholders can no longer withdraw cash at UnionPay ATMs in Mainland since JETCO and UnionPay could not reach an agreement. Bank of East Asia
has now linked its mainland ATMs to the JETCO network to allow users of the JETCO network to withdraw RMB cash on the mainland and mainland-based banks and others in Hong Kong have linked their ATMs in Hong Kong to the UnionPay network. Additionally, many banks in Hong Kong now issue UnionPay debit and credit cards for mainland use.
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
and Macau
Macau
Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China...
, with nearly 1,700 cash machines.
History
JETCO was founded by the Hong Kong Branch of the Bank of ChinaBank of China
Bank of China Limited is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China...
(now Bank of China (Hong Kong)
Bank of China (Hong Kong)
Bank of China Limited is the second-largest commercial banking group in Hong Kong in terms of assets and customer deposits, with more than 300 branches in Hong Kong. It was established on 1 October 2001 from a merger of 12 subsidiaries and associates of the Bank of China in Hong Kong, and listed...
) in 1982 along with the Bank of East Asia
Bank of East Asia
The Bank of East Asia Limited often abbreviated to BEA, is the largest independent local bank and the third largest bank in Hong Kong. Its chairman and chief executive is Sir David Li...
, Chekiang First Bank
Chekiang First Bank
Chekiang First Bank was a bank in Hong Kong. It is now merged to Wing Hang Bank. At the time of the merger with Wing Hang, Chekiang First Bank had 17 branches in Hong Kong, a wholly owned subsidiary in Luxembourg, an agency in San Francisco and a representative office in Shanghai. As of 31...
, Shanghai Commercial Bank
Shanghai Commercial Bank
The Shanghai Commercial Bank and its subsidiary companies are engaged in the provision of banking and related financial services in Hong Kong, United States, United Kingdom and the People’s Republic of China. As a group, it employs over 1,790 people. The bank is a financial institution...
and Wing Lung Bank
Wing Lung Bank
Wing Lung Bank is a medium-sized bank based in Hong Kong. As of 2010, it has 39 branches, including one branch in Los Angeles and one branch in the Cayman Islands....
, and at present covers all banks in Hong Kong and Macau, except for HSBC and Hang Seng Bank
Hang Seng Bank
Hang Seng Bank Limited is the second largest bank in Hong Kong. It is a listed company but it is majority owned by the HSBC Group via The Hongkong and Shanghai Banking Corporation. Hang Seng is also one of the constituent shares of the Hang Seng Index...
, which uses a separate system known as ETC.
Use in Mainland China
JETCO connects with the UnionPayChina UnionPay
China UnionPay , also known as UnionPay or by its abbreviation, CUP, is the only domestic bank card organization in the People's Republic of China . Founded in March 2002, China UnionPay is an association for China's banking card industry, operating under the approval of the People's Bank of China...
network in Mainland China
Mainland China
Mainland China, the Chinese mainland or simply the mainland, is a geopolitical term that refers to the area under the jurisdiction of the People's Republic of China . According to the Taipei-based Mainland Affairs Council, the term excludes the PRC Special Administrative Regions of Hong Kong and...
: JETCO cardholders can withdraw RMB
Renminbi
The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC...
cash at UnionPay machines in a number of major cities in Mainland China, while UnionPay cardholders can withdraw HK$ cash (no more than HK$5,000 per day) at JETCO machines in Hong Kong. However, after 1 January 2006, JETCO cardholders can no longer withdraw cash at UnionPay ATMs in Mainland since JETCO and UnionPay could not reach an agreement. Bank of East Asia
Bank of East Asia
The Bank of East Asia Limited often abbreviated to BEA, is the largest independent local bank and the third largest bank in Hong Kong. Its chairman and chief executive is Sir David Li...
has now linked its mainland ATMs to the JETCO network to allow users of the JETCO network to withdraw RMB cash on the mainland and mainland-based banks and others in Hong Kong have linked their ATMs in Hong Kong to the UnionPay network. Additionally, many banks in Hong Kong now issue UnionPay debit and credit cards for mainland use.
Hong Kong
- Australia and New Zealand Banking Group Limited
- Bank of China (Hong Kong)Bank of China (Hong Kong)Bank of China Limited is the second-largest commercial banking group in Hong Kong in terms of assets and customer deposits, with more than 300 branches in Hong Kong. It was established on 1 October 2001 from a merger of 12 subsidiaries and associates of the Bank of China in Hong Kong, and listed...
- Bank of CommunicationsBank of Communications Hong Kong BranchThe Bank of Communications Hong Kong Branch is a licensed bank in Hong Kong. It was opened in 1934.The Bank's Hong Kong Branch was consolated as part of "Joint Office of Joint Public-Private Banks" in 1952, and later part of the Bank of China Group, until April 14, 1998, when the Bank's head...
- Bank of East AsiaBank of East AsiaThe Bank of East Asia Limited often abbreviated to BEA, is the largest independent local bank and the third largest bank in Hong Kong. Its chairman and chief executive is Sir David Li...
- Bank SinoPacBank SinopacBank SinoPac, or SinoPac Financial Holdings Company Ltd, is a Taiwan-based banking holding company which operates through 18 divisions and 129 branches in Taiwan.-History:...
- China Construction BankChina Construction BankChina Construction Bank is one of the 'big four' banks in the People's Republic of China. To date, it is ranked as the nation's second largest and the second largest bank in the world by market capitalization and 12th largest company in the world. The bank has approximately 13,629 domestic branches...
- China Construction Bank (Asia)China Construction BankChina Construction Bank is one of the 'big four' banks in the People's Republic of China. To date, it is ranked as the nation's second largest and the second largest bank in the world by market capitalization and 12th largest company in the world. The bank has approximately 13,629 domestic branches...
- China Merchants BankChina Merchants BankChina Merchants Bank is a bank headquartered in Shenzhen, China. Founded in 1987, it is the first share-holding commercial bank wholly owned by corporate legal entities.CMB has over five hundred branches in mainland China and one in Hong Kong...
- Chiyu Banking CorporationChiyu Banking CorporationChiyu Banking Corporation Limited is a bank incorporated in Hong Kong.- History :It was founded by Tan Kah Kee in 1947, and it has 23 branches in Hong Kong and focuses on serving the community of residents of Fujian descent in Hong Kong.Chiyu was explicitly created by Chen to create a sustainable...
- Chong Hing Bank
- Citibank
- CITIC Ka Wah BankCITIC Ka Wah BankCITIC Bank Internationalis a Hong Kong bank majority owned by CITIC. It is a subsidiary of CITIC International Financial Holdings.-History:*1922: Ka Wah Ngan Ho was founded in Guangzhou by Dr...
- Dah Sing Bank
- DBS BankDBS Bank (Hong Kong)DBS Bank Limited , a subsidiary of DBS Bank headquartered in Singapore, is a licensed bank incorporated in Hong Kong. It is the sixth largest bank in Hong Kong as measured by assets.-History:...
- Fubon Bank
- Industrial and Commercial Bank of China (Asia)Industrial and Commercial Bank of China (Asia)The Industrial and Commercial Bank of China , or more commonly known as ICBC is a licensed bank incorporated in Hong Kong...
- Industrial and Commercial Bank of ChinaIndustrial and Commercial Bank of ChinaIndustrial and Commercial Bank of China Ltd. is the largest bank in the world by profit and market capitalization. It is one China's 'Big Four' state-owned commercial banks .It was founded as a limited company on January 1, 1984...
- MEVAS BankMEVAS BankMEVAS Bank is a bank based in Hong Kong. It is a wholly owned subsidiary of Dah Sing Financial Holdings Limited. It is formerly known as D.A.H. Private Bank Limited . In September 2000, Dah Sing Bank acquired the minority interests in D.A.H. Private Bank Limited...
- Nanyang Commercial BankNanyang Commercial BankNanyang Commercial Bank is a bank based in Hong Kong and a wholly owned subsidiary of Bank of China , with 41 branches. NCB primarily focuses on corporate customers, in particular trading companies. However, since 2007 it has also taken over all of BOCHK's mainland business as well....
- Public Bank (Hong Kong)Public Bank (Hong Kong)Public Bank Limited is a licensed bank in Hong Kong. Originally named Asia Commercial Bank Limited and owned by Asia Financial Holdings Limited , it was acquired by Public Financial Holdings Limited , completed on 30 May, 2006...
- Shanghai Commercial BankShanghai Commercial BankThe Shanghai Commercial Bank and its subsidiary companies are engaged in the provision of banking and related financial services in Hong Kong, United States, United Kingdom and the People’s Republic of China. As a group, it employs over 1,790 people. The bank is a financial institution...
- Standard Chartered BankStandard Chartered BankStandard Chartered PLC is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries...
- Wing Hang BankWing Hang BankWing Hang Bank Limited is Hong Kong's sixth biggest bank by total assets. In Macau it is known as Banco Weng Hang S.A. In fiscal 2003, the bank had total assets of HK$89 billion, and net profits of HK$864 million.- History :...
- Wing Lung BankWing Lung BankWing Lung Bank is a medium-sized bank based in Hong Kong. As of 2010, it has 39 branches, including one branch in Los Angeles and one branch in the Cayman Islands....
Macau
- Banco Comercial de Macau
- Banco Nacional UltramarinoBanco Nacional UltramarinoBanco Nacional Ultramarino was a Portuguese bank with operations throughout the world, especially in Portugal's former overseas provinces. It ceased existence as an independent legal entity in Portugal following its merger with Caixa Geral de Depósitos, the government-owned savings bank, in...
- Banco Weng Hang
- China Construction BankChina Construction BankChina Construction Bank is one of the 'big four' banks in the People's Republic of China. To date, it is ranked as the nation's second largest and the second largest bank in the world by market capitalization and 12th largest company in the world. The bank has approximately 13,629 domestic branches...
- Bank of ChinaBank of ChinaBank of China Limited is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China...
- Luso International Bank
- Industrial and Commercial Bank of China (Macau)
- Tai Fung Bank