Author Topic: CC and Bank Accounts in Israel?  (Read 15125 times)

Offline djnimon

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CC and Bank Accounts in Israel?
« on: April 28, 2011, 01:58:02 PM »
I hope to move to Israel for shana rishona in a few months. Anyone got any tips on what I should do about cc and bank accounts there? Thanks!

Offline elikay

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Re: CC and Bank Accounts in Israel?
« Reply #1 on: April 28, 2011, 03:40:02 PM »
I hope to move to Israel for shana rishona in a few months. Anyone got any tips on what I should do about cc and bank accounts there? Thanks!
Most relevant is intl fees aka FOREX see here: http://tinyurl.com/6kbp7ra

Offline U-no-me!

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Re: CC and Bank Accounts in Israel?
« Reply #2 on: April 28, 2011, 08:22:48 PM »
in terms of cc's don't get the israeli ones (their stupid), get an american one like amex platinum, chase ba or chase marriot that have no forex fee. now banks you can open a free checking student account with hapoalim or leumi and they come with a debit card but you must bring a letter from the yeshiva that your a student in order for the fees to be waved or you can open a free checking account at bank hadoar but it's better to go for the real banks. hatzlacha
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Offline U-no-me!

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Re: CC and Bank Accounts in Israel?
« Reply #3 on: April 28, 2011, 08:26:46 PM »
or you can just use your american bank and withdraw money in israel with their debit card. just be careful some banks charge forex fees. both schwab bank and td bank don't charge forex fees but td bank charges $2 for atm withdrawels if you have a balance of less than $2,500.00 in the account.
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Offline elikay

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Re: CC and Bank Accounts in Israel?
« Reply #4 on: April 28, 2011, 10:14:56 PM »
You don't really need to  have a bank account there, an American one will suffice especially on the short term (a few years). You would like to avoid Forex fees, so I recommend C Schwab's High yield (that's the name it actually yields pennies) which does not charge any maintenance nor international fees. When linked to a Schwab savings account you will have free overdraft protection, when linked to a margin line on a brokerage account it can draw from there as well with no fee either (besides for interest of course). You can swipe the debit card or use a CC which does not charge Forex such as the BA (link Dan) or some others which you can find by searching the forums. Deposits can be mad online (ach transfer) or with business reply envelopes which they provide. 

Offline shmooz

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Re: CC and Bank Accounts in Israel?
« Reply #5 on: January 21, 2014, 11:48:51 PM »
I was told the schwab bank atm card reimburses for ATM fees and its good for an extended stay in Israel
http://content.schwab.com/m/q310/schwab_bank_high_yield_investor_checking/ELC44427C-02.html

i wanted to know if they pull credit and they do...SO the ultimate dilemma if its worth it to pull credit for this... anyone have any other ideas?

 : hello, i am interested in opening a checking brokerage account. Will there be a pull on my credit report?

11:37:15 PM : Andrew Great! Thank you for considering Schwab.

11:37:30 PM : Andrew Yes. We do run a hard credit inquiry.

11:38:40 PM :: is there any way to avoid that

11:39:55 PM : Andrew There is not.

11:40:17 PM : Andrew  We run a credit inquiry when our client's open any of our accounts.

11:40:55 PM :  i try to keep my credit inquiries down... do you know which agency you pull from?

11:42:25 PM : Andrew  I believe we pull from Equifax.


Offline moish

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Re: CC and Bank Accounts in Israel?
« Reply #6 on: January 22, 2014, 03:02:00 AM »
did you really think there was a chance they werent going to pull your credit?

Offline shmooz

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Re: CC and Bank Accounts in Israel?
« Reply #7 on: January 23, 2014, 10:00:49 AM »
did you really think there was a chance they werent going to pull your credit?

yes i thought maybe if its only a checking account they wouldnt pull.

Anyway, does anyone else have anything similar to schwab?

Offline Am

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Re: CC and Bank Accounts in Israel?
« Reply #8 on: January 23, 2014, 07:51:14 PM »
Is td still a good option?

Offline HP58

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Re: CC and Bank Accounts in Israel?
« Reply #9 on: January 24, 2014, 04:08:04 AM »
Is td still a good option?
Yeah. They still charge $2 per ATM withdrawal, so withdraw alot of $ at once.

Offline dovy2

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Re: CC and Bank Accounts in Israel?
« Reply #10 on: January 24, 2014, 08:20:37 AM »
When I was there a few years ago, I was able use my reg bank visa pull out us dollars from many leumi atm's for no charge

Offline wayfe

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Re: CC and Bank Accounts in Israel?
« Reply #11 on: May 22, 2014, 10:44:37 AM »
I'd like to set up a US bank account for someone living in Israel- but there's no verifiable US address. Any options?
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Offline @jack123

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Re: CC and Bank Accounts in Israel?
« Reply #12 on: May 22, 2014, 11:33:18 AM »
or you can just use your american bank and withdraw money in israel with their debit card. just be careful some banks charge forex fees. both schwab bank and td bank don't charge forex fees but td bank charges $2 for atm withdrawels if you have a balance of less than $2,500.00 in the account.

just to clarify- you have to have a premier checking account in order to avoid those ATM fees, not just have 2,500 balance (although that is the min balance in a premier acct to avoid monthly fees). but once you are premier, they will also refund you any external ATM fees, even if they are in Israel, although you might have to call up to have them apply the refund if they aren't automatically recognized as fees by their system IME.

Offline Myccrabbi

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Re: CC and Bank Accounts in Israel?
« Reply #13 on: August 25, 2014, 04:13:27 PM »
I have a relative who wants to take out all of his money from bank hapoalim, problem is he dosent have time to go...
Is there a way that he can make me authorized to withdraw all funds?
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Offline Boruch999

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Re: CC and Bank Accounts in Israel?
« Reply #14 on: August 25, 2014, 04:21:59 PM »
I have a relative who wants to take out all of his money from bank hapoalim, problem is he dosent have time to go...
Is there a way that he can make me authorized to withdraw all funds?
Not without him going in to the bank. If he has online/phone access or checks he can easily liquidate to another (yours?) israeli bank account.