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Israel – Banking

Israel is a country located in the Middle East, known for its advanced technology industry, vibrant culture, and unique history. If you are an expat living in Israel or planning to move there, it is essential to understand the banking system in the country. In this article, we will cover the following topics:

Local Banks in Israel

There are several local banks operating in Israel, including:

Major UK and USA Banks in Israel

Several major banks from the UK and USA have a presence in Israel, including:

Opening a Bank Account

As an expat, you can open a bank account in Israel by following these steps:

  1. Choose a bank: Research the various banks in Israel to determine which bank will suit your needs. You can visit the bank’s website or go to a branch to gather more information.
  2. Gather your documents: You will need to provide the following documents to open a bank account in Israel:
  • A valid passport
  • A copy of your visa or residency permit
  • Proof of address (utility bill or rental agreement)
  • Israeli tax identification number (TIN)
  1. Visit the bank: Once you have chosen a bank and gathered your documents, visit the bank during opening hours to open your account. If you are unable to visit in person, you can contact the bank to inquire about alternative options.
  2. Fill out an application: The bank will provide you with an application form to fill out. Be sure to provide accurate and complete information.
  3. Provide identification: You will need to provide your passport or other identification to confirm your identity.
  4. Provide proof of address: You will need to provide proof of your address in Israel. This can be a utility bill or rental agreement.
  5. Provide your TIN: You will need to provide your Israeli tax identification number (TIN).
  6. Deposit funds: Once your account is open, you will need to make a minimum deposit to activate it. This amount varies by bank.
  7. Choose additional services: You can choose additional services such as online banking, a debit card, or a credit card.

In conclusion, opening a bank account in Israel as an expat is a straightforward process. By choosing a bank, gathering the necessary documents, and visiting the bank during opening hours, you can open an account and start managing your finances in Israel.


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