Foreign currency transfers from Israel to overseas

Foreign currency transfers from your account in Israel to overseas banks

There are two ways to make such transfers:

• Cashier's check drawn in foreign currency
• Through SWIFT - "SWIFT" - Society for Worldwide Interbank Financial Telecommunication

Below is a list of foreign currency codes according to SWIFT standards

Transfers through SWIFT are carried out on the same day, subject to bank business hours.

Documents/information required for transfer:

• Remitter information - account number, full name and address
• Beneficiary’s bank information - SWIFT code, bank name, branch name and address
• Beneficiary information - client name, account number, address, city and country
• Purpose of the transfer

Transfers to US banks must indicate the bank code in the Federal clearing house (FW).

This code is known as the ABA number or routing number and is composed of 9 digits.

Transfers to IBAN compliant countries must indicate the client account number according to the IBAN standard.

(IBAN - International Bank Account Number)

• For IBAN verification (SWIFT-recommended website)
• Prior to contacting your branch to make a foreign currency transfer, we recommend you verify the validity of the IBAN code you have. Discount Bank is not responsible for the reliability of information on this website.

Commissions

• Transfer commission
• SWIFT expenses (for corporations only)
• Exchange commission or exchange rate differentials - based on payment method (in foreign currency or in NIS)

Overseas payment using a cashier's check drawn in foreign currency

To make payment overseas using a cashier's check, you will have to go to your branch and provide the following information: currency type and amount requested, name of beneficiary.

Charge to your account

Your account will be charged on the business day on which the cashier's check was purchased.

Information required to produce a cashier's check

• Name of beneficiary - to whom the check will be made
• Amount requested 
• Payment purpose

Commissions

• Cashier's check commission
• Exchange commission or exchange rate differentials - based on payment method (in foreign currency or in NIS)

The cost for each type of payment is as listed in the "Bank services commission schedule" as of the transfer date.