banking
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
community in
Egypt
Egypt ( , ), officially the Arab Republic of Egypt, is a country spanning the Northeast Africa, northeast corner of Africa and Western Asia, southwest corner of Asia via the Sinai Peninsula. It is bordered by the Mediterranean Sea to northe ...
. It is provided by Egyptian Banks Co. for Technological Advancement (EBC).
Services
The "123" network links more than 30 Egyptian Banks supporting more than 1500 ATMs distributed all over Egypt. This network provides the banks' clients with direct access to their different accounts at any time and from anywhere through the ATMs carrying the "123" logo.
This network is available 24 hours a day 7 days a week.
In addition, the "123" network is a gateway to MasterCard,
Diners Club
A diner is a type of restaurant found across the United States and Canada, as well as parts of Western Europe and Australia. Diners offer a wide range of cuisine, mostly American cuisine, a casual atmosphere, and, characteristically, a comb ...
and
American Express
American Express Company or Amex is an American bank holding company and multinational financial services corporation that specializes in payment card industry, payment cards. It is headquartered at 200 Vesey Street, also known as American Expr ...
International networks. Moreover, it is linked to regional networks in the Persian Gulf states, NAPS in State of
Qatar
Qatar, officially the State of Qatar, is a country in West Asia. It occupies the Geography of Qatar, Qatar Peninsula on the northeastern coast of the Arabian Peninsula in the Middle East; it shares Qatar–Saudi Arabia border, its sole land b ...
, Benefit in Kingdom of
Bahrain
Bahrain, officially the Kingdom of Bahrain, is an island country in West Asia. Situated on the Persian Gulf, it comprises a small archipelago of 50 natural islands and an additional 33 artificial islands, centered on Bahrain Island, which mak ...
Lebanon
Lebanon, officially the Republic of Lebanon, is a country in the Levant region of West Asia. Situated at the crossroads of the Mediterranean Basin and the Arabian Peninsula, it is bordered by Syria to the north and east, Israel to the south ...
.
Benefits:
* Convenience
* Security
* Helping to promote a
cashless society
In a cashless society, financial transactions are not conducted with physical banknotes or coins, but instead with digital information (usually an electronic representation of money). Cashless societies have existed from the time when human soc ...
* Enhanced
debit
Debits and credits in double-entry bookkeeping are entries made in account ledgers to record changes in value resulting from business transactions. A debit entry in an account represents a transfer of value ''to'' that account, and a cred ...
and
credit
Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt) ...
Bank of Alexandria
The Bank of Alexandria is one of the largest banks in Egypt, with 210 branches across the country. It has a market share of almost 7% and had assets of 5.2 billion euros (US$6.5 billion) as of June 30, 2006. Intesa Sanpaolo is the major shareholder ...
ARAB Bank
Arab Bank is a Jordanian bank that is one of the largest financial institutions in the Middle East. It is headquartered today in Amman, Jordan, and operates as a universal bank that serves clients in more than 600 branches spanning five contine ...
#
Barclays – Egypt
Barclays PLC (, occasionally ) is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services ...
Banque Misr
Banque Misr () or in English the Bank of Egypt is an Egyptian bank co-founded by industrialist Joseph Aslan Cattaui Pasha, Joseph Cicurel and economist Talaat Harb Pasha in 1920. The government of the United Arab Republic nationalized the ban ...
National Bank of Abu Dhabi
National Bank of Abu Dhabi (NBAD) () was a bank operating in the United Arab Emirates (UAE) until it merged with the First Gulf Bank in December 2016 to form First Abu Dhabi Bank. NBAD was the largest lender bank in the Emirate of Abu Dhabi and ...
Piraeus Bank
Piraeus Bank () is a Greece, Greek multinational financial services company with its headquarters in Athens, Greece. Piraeus Bank's shares have been listed on the Athens Exchange, Athens Stock Exchange (Athens Exchange, ATHEX) since January 1918. ...
HSBC
HSBC Holdings plc ( zh, t_hk=滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business li ...
National Bank of Oman
Founded in 1973, the National Bank of Oman (NBO) was the first local bank in Oman.
NBO has over 60 branches and 173 ATMs and Cash Deposit Machines across Oman. The bank has two international branches in Dubai and Abu Dhabi
Abu Dhabi is ...
Egypt Post
Egypt Post ( ') is the governmental agency responsible for postal service in Egypt. Established 29 October 1865, it is one of the oldest governmental institutions in the country.
History
Modern Egyptian postal service began when Carlo Meratti, ...