Choosing a bank in Israel

One of the things that you have to do when you come on Aliyah is to choose a bank (בנק). There are many different banks (בנקים) that have different hours and services. One thing that you should know that most banks are closed (סגורים) on Fridays and Saturdays. They also have opening hours two afternoons a week.

The amount of the monthly fee and the individual transation fee is also different for each bank. Most banks charge from 10-15 NIS a month plus a charge for each transation.  That is you pay each time you deposit money, and when you write a check. Make sure that you take this into account when your are planning your budget. The post office also has a bank, and if you want to open up a post office account, it costs 50NIS. The major advantage  of a post office bank account is that it is open all the time the post office is open, and you can go into any post office to deposit (להפקיד ) and withdraw funds.

Most banks have branches ( סניפים) in individual neighorhoods, so even if the fees are higher, there is the added convience of being able to walk to go to the bank. This can save you time (זמן) and money (כסף).

In order to open a bank account, you need to have your Israeli Identification card, either an Israeli check or cash.  You will need to sign a lot of documents, that are in Hebrew that tell about all your rights, and the fees that are charged by the bank. In the postal bank, you have to wait a week until you are able to deposit any money into the account (חשבון).

Vocabulary about choosing a bank in israel