How to Open a Bank Account in Israel

Opening a Bank Account

P'tichat Cheshbon Bank
פתיחת חשבון בנק

A few days after making Aliyah you should schedule a meeting with Misrad HaKlita where you will need to hand in documentation from an Israeli bank providing your account details, so they can start to deposit monthly payments as part of your Sal Klita - סל קליטה - Absorption Basket. If applicable, you have to open a joint bank account under both spouses’ names before going to Misrad HaKlita.
It is also recommended not to change your bank account number during the first few years after making Aliyah.

What You Will Need

Documents of Identification

Bring your Passport, Teudat Zehut and Teudat Oleh.

Bank Account Authorization – טופס לפתיחת חשבון בנק

Bring the Bank Account Authorization form that you’ve received at the airport. The bank officer will stamp it and you need to bring this with you to your initial visit at Misrad HaKlita.

Declaration of Taxes

You will be signing forms concerning tax declaration in your country of origin and money ownership. All account owners must have their foreign tax identification numbers/social security numbers.

Steps to Take

1. Choose and Go to a Local Bank Branch

For convenience sake, choose a bank branch close to where you live or work. Opening a joint account requires the presence of both spouses at the bank and each must bring their own documents.

2. Deposit Money

Use cash or a check to make a deposit into your new account and thereby activate it (1 Shekel is enough). Misrad HaKlita cannot transfer Sal Klita payments to an inactive account.

Important Note

Currency

If you are depositing a small amount of cash, it is recommended to deposit NIS. It can be expensive to deposit small sums of foreign currency and the bank will also charge you to convert it to NIS.

Time

There are many forms to sign. It is highly recommended to allow extra time and not to arrive later than an hour before the bank closes.

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