CC and Bank Accounts in Israel?

[Hjay]

Update: I went into Poalim to open an account and they told me to fill out a form and if corporate approves me ill get a call to come back and open an account. They said out of the over 200 applications they received that month they approved less than 10. Obviously that call never came.
So i went back to Leumi to figure out what to do an asked if theres any way to leave the account open. She said sure, ill just change it over to an Israeli account with your visa. And thats what happened. Im still with Leumi.

What Does that mean that u changed to an Israeli acct? U were able to avoid all the annoyances of a foreign acct? Can anybody do that?

I edited Baruch to clarify for you
1) and 2)  is correct . Keep a balance under $10k and don't worry. (I'd personally keep as little as possible).
3) -1 . It technically would but if you can prove that you are currently in israel for school you'll be fine .
4) correct

Welcome to the messed up system in israel ! It's a great experience.

Balance is definitely gonna be under 10k it's just for my kollel check & bituach Leumi which are going straight to paying rent.
Do u have any experience with Medicaid or something similar? It wouldn't be a prob as long as I'm a student even if I'm here for most of the year? Also would Medicaid see the money I'm getting here? because that would prob put me over the threshold & I'll be booted off
 Even if I'm here for most of the year they won't give me a prob because I'm a student?

I'd do this all with pm but as somebody mentioned earlier someone else may benefit from this…

[Hjay]

I fail to see how any of this makes it a "messed up system".

When living in Brooklyn did u ever have to go to manhattan to open a bank acct because that's where the main branch is?

[Emkay]

When living in Brooklyn did u ever have to go to manhattan to open a bank acct because that's where the main branch is?

I am an American citizen. Go tell a Korean tourist to walk into TD Bank and try to open one.

[Hjay]

U have a good point although with a visa which allows u to be in the country for two years I don't think it'd be so complicated

[Hjay]

@emkay I quoted u in my earlier post. Do u have any info?

[Emkay]

@emkay I quoted u in my earlier post. Do u have any info?

I'm not sure. I don't see real annoyances in foreign accounts other than going to the main branch to sign up. Dunno about anything else. They seemed to say I can convert it from a foreign account because of my visa but I don't think it's like a local account

[Hjay]

I'm not sure. I don't see real annoyances in foreign accounts other than going to the main branch to sign up. Dunno about anything else. They seemed to say I can convert it from a foreign account because of my visa but I don't think it's like a local account

Annoyances I was referring to were all the forms I'd have to sign & the exchange of info between Israel & America & vice versa (not that I have anything to hide but "less is more"). & was wondering if I'd be able to open it on paran being that's it's not a foreign acct… guess I'll have to make the rounds of the banks & see what happens I'll try to report back thx

[Emkay]

Annoyances I was referring to were all the forms I'd have to sign & the exchange of info between Israel & America & vice versa (not that I have anything to hide but "less is more"). & was wondering if I'd be able to open it on paran being that's it's not a foreign acct… guess I'll have to make the rounds of the banks & see what happens I'll try to report back thx

Those forms are the annoyance?
It's literally 30 seconds of your life. Those forms and the exchange of info are legal reasons, I can direct you to Swiss banks that don't require it if you like.

[Hjay]

Those forms are the annoyance?
It's literally 30 seconds of your life. Those forms and the exchange of info are legal reasons, I can direct you to Swiss banks that don't require it if you like.

I agree with u 100% it just seemed from the earlier part of this thread that this wasn't the norm until recently so I was wondering if what u mentioned is a way around

[ludmila]

I wouldn't worry about signing a W-9.  You don't have to file an FBAR as long as the balance stays below $10k.  I can't imagine it affecting Medicaid.  Reports are that you'll have to open your account at the kikar tzion branch for hapoalim, and king george for leumi.

Correct, Hapoalim moved my account to Kikar Zion without even giving me prior notice!!

[Mr. CC]

Those forms are the annoyance?
It's literally 30 seconds of your life. Those forms and the exchange of info are legal reasons, I can direct you to Swiss banks that don't require it if you like.

3,600 seconds IME, no CS

[emjee]

I am an American citizen. Go tell a Korean tourist to walk into TD Bank and try to open one.

You are correct in regard to a tourist. It ain't happening. However anybody in america as a foreign student can get a bank account in any branch.

[Hjay]

I walked into hapoalim this morning to put money in my Baal dirahs acct to pay the rent & they said I can't do anything with cash I have to go to meah shearim or givah tsarfatit. Def a normal system 

[moisheyb]

So where is the best bank to open an account?

[Hjay]

So where is the best bank to open an account?

Right now I'm just trying to pay the rent after that I'll deal with an acct

[moisheyb]

Right now I'm just trying to pay the rent after that I'll deal with an acct

Get him to set up an American paypal account

[Emkay]

Def a normal system 

Walk into Chase bank and  try depositing cash into someone else's account.

[Hjay]

Walk into Chase bank and  try depositing cash into someone else's account.

Are u serious? I have ppl deposit money in my acct very often without a prob.

[David Smith]

Are u serious? I have ppl deposit money in my acct very often without a prob.

Have you recently tried to

Walk into Chase bank and  try depositing cash into someone else's account.

[Emkay]

Are u serious? I have ppl deposit money in my acct very often without a prob.

Unlikely recently.