Send Money to Israel

Margin Rate: 0.8%
Minimum Transfer: £2000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Margin Rate: 5%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Margin Rate: 1%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Margin Rate: 1%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated

Countries in Israel

Send money transfer to Israel

Israel has been free of foreign exchange and transfer restrictions since these were dismantled in 2003. The New Israel Shekel (ILS) is a fully convertible currency making it easy to send money to and from Israel. All transfers must however be executed by dealers authorised by the country’s central bank and transfers over 80,000 shekels must be reported to Israeli Customs using a form 84. This form should be available from local Customs units or else can be found on the Israeli tax authority website.

For simple transfers to Israel, there are different options available:

Provided the recipient has a bank account in Israel, a bank transfer will be the easiest method of sending cash.

If you want to send cash without using your bank account or if you do not have one yet, you can opt for a worldwide money transfer service via a Money Sending Bureau. These establishments found in major cities around the world and they allow you to transfer money to Israel. With this option however you will need to pay a significant commission on the transfer and it is worth looking around as fees can vary between just a few percent as high as 15% of the sum being sent. These institutions also often comparatively poor exchange rates so again the total costs need to be considered.

The procedure is however relatively simple: You take the money you would like to transfer to an office in cash. You have to fill in a form, pay the service fee, and show a valid ID. Alternatively, you can process your money transfer online. Once this procedure is done, the recipient can pick up the money at another office simply by showing his or her own ID. With the transaction number you receive, you can track the status of your transfer online.

A third option is to use a foreign exchange broker to send money to Israel. These companies shift huge volumes of currency around the world and therefore come with a couple of significant benefits. They are usually more competitive than the high street banks offering a better exchange rate and depending on the amount being transferred and the frequency of trade, lower fees. They will usually move your funds quicker than a bank or Money Sending Bureau meaning the funds will reach the destination account much quicker. They will often offer a more personalised service which is important if your transfers are ongoing.

The usual downside however is that with most brokers there are minimum levels involved so they may be only suitable for businesses or individuals moving more significant sums of money.
Bank Note System

Banknotes are issued in values of 20, 50, 100 and 200 sheqalim. Coins are minted in denominations of 1, 5, 10 and 50 agorot, as well as 1, 2, 5, and 10 sheqalim.