Israel Guide: Money

Our money guide provides information on bank accounts, money exchange, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.

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  Money

  Currency, money exchange and transfers

  The national currency of Israel is the shekel (also called sheqel, ILS, NIS and ₪). It is divided into 100 agorot (singular agora).

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  Banking

  Banking services in Israel

  Israeli banks offer a variety of accounts and services which are open to residents and foreigners alike. Foreign residents should be on good terms with their bank managers because managers approve all major transactions.

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  Bank accounts

  How to open a bank account in Israel

  Israeli banks offer two common types of accounts to new residents and foreigners: current accounts and savings accounts.

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  Taxation

  Taxes and tax exemptions for Israeli residents

  Personal taxes in Israel are fairly straightforward. Employers deduct income tax from employees' salaries, which means that residents do not need to file for taxes. Real estate owners must pay property tax, and new immigrants may receive deductions on some taxes.

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