Author Topic: Israeli Banking Question  (Read 2445 times)

Offline Yehudaa

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Israeli Banking Question
« on: June 24, 2018, 02:32:24 PM »
I'm trying to wire shekels into my Israeli (Leumi) account. The info below is from Leumi's website.

Does anyone know what the '2 characters issued by your branch' is in my IBAN number? I looked all over my account online and can't find anything about them. I think they might be referred to as check digits internationally. Anyone know how I'd find mine?


IBAN format - ILxx010XXX00000YYYYYYYY :
IL - Israel
xx - 2 characters issued by your branch
010 - Bank Leumi identification
XXX - Branch number
Five 0 - Issued automatically by the system to reach 13 characters
YYYYYYYY - Account number

Offline yochai

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Re: Israeli Banking Question
« Reply #1 on: July 10, 2022, 07:06:28 PM »
Israeli banks are recently giving a hard time to open accounts to anyone with a SS#, even with dual citizenship.
Anyone know a bank in J-lm that I can open one in? Also, what’s the best bank for making transfers to the US?

Offline LongTimeLurker

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Re: Israeli Banking Question
« Reply #2 on: July 11, 2022, 03:57:33 AM »
If you are an Israeli citizen they cannot deny you a basic checking account regardless of other citizenship. If they do this the process is to complain to their Public Relations department, and then if you are not satisfied with the response you complain to bank of israel..

האם הבנקים מחויבים לפתוח לנו חשבון עובר ושב?
על פי סעיף 2(א) לחוק הבנקאות (שירות ללקוח), התשמ"א – 1981, בנק אינו רשאי לסרב לפתוח ללקוח חשבון עובר ושב במטבע ישראלי , מסיבות שאינן סבירות.

כלומר, ללקוחות הבאים הבנק מחויב לפתוח חשבון ביתרת זכות (ללא אשראי), ובלבד שאין סיבה נוספת המהווה סיבה סבירה למניעת פתיחת החשבון:
 
1. לקוח מוגבל, או מוגבל חמור, או מוגבל מיוחד, כמשמעותם בחוק שיקים ללא כיסוי, התשמ"א – 1981,   בעבר או  בהווה (לגבי לקוח מוגבל בהווה יפתח חשבון ללא שיקים);
2. לקוח בהליך פשיטת רגל בהווה;
3. לקוח בהליך פשיטת רגל בעבר;
4. לקוח אשר הוטל עיקול על חשבונותיו;
5. לקוח אשר מתנהל או התנהל בעבר, בינו לבין בנק אחר, הליך משפטי שמקורו בגביית חוב.

Offline moe8555

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Re: Israeli Banking Question
« Reply #3 on: July 11, 2022, 04:52:43 AM »
So is OneZero breaking the law by not allowing U.S. persons to open an account?

Offline ExGingi

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Re: Israeli Banking Question
« Reply #4 on: July 11, 2022, 06:31:31 AM »
So is OneZero breaking the law by not allowing U.S. persons to open an account?

US citizens are required (by all banks in Israel) to apply in person at a branch and complete FATCA paperwork. OneZero is currently in Beta testing stages and isn't yet fully and officially open for business. I guess figuring out how to deal with FATCA is one of the hurdles they will need to cross before being fully open to the public.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Mr. CC

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Re: Israeli Banking Question
« Reply #5 on: July 11, 2022, 09:15:03 AM »
Israeli banks are recently giving a hard time to open accounts to anyone with a SS#, even with dual citizenship.
Anyone know a bank in J-lm that I can open one in? Also, what’s the best bank for making transfers to the US?
How should they know that you have a SSN?

Offline AsherO

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Re: Israeli Banking Question
« Reply #6 on: July 11, 2022, 09:19:02 AM »
US citizens are required (by all banks in Israel) to apply in person at a branch and complete FATCA paperwork. OneZero is currently in Beta testing stages and isn't yet fully and officially open for business. I guess figuring out how to deal with FATCA is one of the hurdles they will need to cross before being fully open to the public.

It’s a compliance nightmare that international banks hate. In Israel I believe some banks have separate branches/departments to deal with American accountholders and their accounts.
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Offline AsherO

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Re: Israeli Banking Question
« Reply #7 on: July 11, 2022, 09:19:51 AM »
How should they know that you have a SSN?

Good question, but you might have more grief down the line if you lie to them about this.
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Offline ExGingi

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Re: Israeli Banking Question
« Reply #8 on: July 11, 2022, 09:23:12 AM »
It’s a compliance nightmare that international banks hate. In Israel I believe some banks have separate branches/departments to deal with American accountholders and their accounts.


Indeed. I've heard Swiss banks don't want to deal with Americans.

Good question, but you might have more grief down the line if you lie to them about this.

100%
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline yochai

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Re: Israeli Banking Question
« Reply #9 on: July 11, 2022, 07:06:11 PM »
Good question, but you might have more grief down the line if you lie to them about this.
100%
Is there anything wrong if I open an online account now without disclosing my American citizenship and next week enter a branch in Israel and fill out the necessary paperwork?

Offline moe8555

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Re: Israeli Banking Question
« Reply #10 on: July 12, 2022, 03:29:13 AM »
I was offered the "Founder" account a while back with 0 fees for life (even fees like withdrawing cash from an ATM abroad) - but they are currently refusing U.S. citizens.  Hopefully they'll let me take advantage of it when they go live.  In the meantime, my wife was able to get it (not a U.S. citizen/person), better than nothing.

Offline LongTimeLurker

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Re: Israeli Banking Question
« Reply #11 on: July 12, 2022, 04:51:27 AM »
So is OneZero breaking the law by not allowing U.S. persons to open an account?
Probably.. but since I'm rooting for them I decided not to file a complaint.

 Leumi for example wouldn't let you sign up with Pepper because they wanted you to complete a w9 in person at a branch.
The Investment houses typically let you do the w9 via digital signature and I think most banks do/will soon too.

Offline rbs-g1.5

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Re: Israeli Banking Question
« Reply #12 on: July 12, 2022, 03:36:32 PM »
Israeli banks are recently giving a hard time to open accounts to anyone with a SS#, even with dual citizenship.
Anyone know a bank in J-lm that I can open one in? Also, what’s the best bank for making transfers to the US?
I opened in hapoalim a while back

Offline yfr bachur

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Re: Israeli Banking Question
« Reply #13 on: August 14, 2023, 04:10:52 PM »
Just opened in Leumi - Sharei Hair JLM without a problem.
Iwouldn't say it was quick, but it was painless.

Offline moe8555

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Re: Israeli Banking Question
« Reply #14 on: August 16, 2023, 04:11:36 AM »
So is OneZero breaking the law by not allowing U.S. persons to open an account?

Curious why they still aren't allowing it now that they're open to the general public?

Online tavster

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Re: Israeli Banking Question
« Reply #15 on: August 16, 2023, 04:31:26 AM »
Curious why they still aren't allowing it now that they're open to the general public?
It was the same thing with Bank Leumi's Pepper - at the time they told me they didnt have the workforce to handle all the FATCA and other US disclosures etc