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Opening a bank account in Israel

7 tasks · Updated

In brief

The Ministry of Aliyah and Integration tells new olim to open a bank account so later state assistance can be transferred. The Bank of Israel requires banks to explain services to new immigrants, to publish the documents needed to examine a request, and to give a written decision. Ask the bank for its current document list rather than relying on an unofficial checklist.

Based on official sources, not reviewed by a professional.

In brief: what to do

  1. Open a current account so the Ministry can transfer later assistance.
  2. Ask the bank for its published list of documents for new immigrants.
  3. Bring the documents the Ministry first-days page lists, plus the bank's list.
  4. Make a deposit so the account is not treated as inactive.
  5. Give the signed account details to the Ministry.

How to use this checklist

Mark each task you complete. Progress is saved on this device. Every factual step links to an official source. Check that official page for current amounts, deadlines, and eligibility rules.

Tasks

The Ministry first-days guide says opening an account at any bank of your choice lets you deposit the financial assistance received at the airport and lets the Ministry continue to transfer additional assistance. The Ministry also supplies the account details to the National Insurance Institute.

The First Days in Israel (gov.il)

A Bank of Israel letter to the banks (30 January 2023) says banks must set out a list of documents required to examine a new immigrant's request to open an account. If the request is refused, the bank must provide written reasons, subject to any law. Those duties come from Directive 422. Different branches of the same bank had not been using one list, so ask for the current published list.

Bank of Israel letter, 30 January 2023 (PDF)

The Ministry first-days page lists: personal details (first and last name, date of birth, country of birth, identity card number, country of origin); Teudat Oleh; Teudat Zehut for persons who already have one; and an income-tax file number from the country of permanent residence before aliyah. The bank clerk must sign the Ministry form, and you must bring the signed form to the Ministry. You can also update details through the personal account.

The First Days in Israel (gov.il)

Bank of Israel Directive 406 (Banking Services for New Immigrants) tells banks to give as detailed an explanation as possible of the transaction a customer wants, and to provide an explanatory booklet in the customer's own language about the nature and main features of the transactions. The 30 January 2023 letter reminds banks of that duty.

Directive 406: Banking Services for New Immigrants (PDF)

Directive 422 says a current account is essential and that, under the Banking (Service to the Customer) Law, a bank must enable every customer to open at least a current account with no credit facility and to manage it, unless there is a reasonable cause for refusal. The bank must give a written decision, including reasons, within 10 business days of the request or of receiving the required documents. Before opening, the bank must explain that the account has no credit facility and which means of payment will be available.

Directive 422: current account with no credit facility (PDF)

The Ministry first-days page says that, in the Ministry's experience, the first payments deposited by the State are liable to be returned because the account is inactive. To prevent this, make a deposit into the account. The page says even one shekel is sufficient.

The First Days in Israel (gov.il)

The Ministry first-days page says the bank clerk must sign the form for opening a bank account, and you must bring the signed form to the Ministry of Aliyah and Integration. Account details can also be provided or updated through the personal account (ezor ishi).

New Olim personal account (gov.il)

Do not forget

  • The 30 January 2023 Bank of Israel letter notes that an immigration certificate may be used as an ID card up to 30 days after issuance for identification, and that the bank may later require an ID card. Check current bank practice and official pages rather than treating that 2023 letter as a fee table or a 2026 procedure.
  • A later 2023 press release about a 90-day immigrant-certificate period said that extension was in effect until the end of 2023. That longer period is not treated as current on this page.
  • Banks are not required to grant credit or a credit facility when they open a basic current account.

Official sources

Frequently asked questions

The first-days guide says the account is used to deposit airport assistance and to receive later Ministry assistance. The Ministry also gives the account details to the National Insurance Institute.
Official source

Directive 422 says a bank must enable every customer to open at least a current account with no credit facility unless there is a reasonable cause for refusal. A written decision with reasons is due within 10 business days of the request or of receiving the required documents. The bank is not required to grant credit.
Official source

Based on official sources, not reviewed by a professional.

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