Open Account

Payments and transfers between importers and exporters using the open account method

Importer, would you like to pay the exporter directly for the goods/services provided to you?

We will conduct the payment for you according to your instructions.

Discount Bank receives proceeds for the exporter from foreign banks and will credit the account according to the customer’s (exporter) instructions/statement (in accordance with the provisions of the Prohibition on Money Laundering Law).

This method of payment is used when there is maximum trust between the importer and the exporter.

In addition, we can handle transfers and receipts of foreign currency in Israel.

The Bank provides its clients with extensive correspondent connections with banks overseas and enables the receipt of payments through the bank accounts it manages throughout the world and in all tradable currencies.

The Bank’s payment/receipt activity is carried out in accordance with the following procedures:

Directives for the Supervision of Foreign Currency of the Bank of Israel's Supervisor of Foreign Currency

The Bank of Israel's supervision of foreign currency directives, which monitors the foreign currency market

Laws and regulations regarding the collection of VAT and income tax in connection with the import/export of services and other payments.

Provisions of the Prohibition on Money Laundering Law.

Are you interested in carrying out transactions online? Learn more about the world of foreign trade on the Internet.