Foreign currency is transferred from overseas to Israel using SWIFT - Society for Worldwide Interbank Financial Telecommunication.
Every bank belonging to the SWIFT network is identified by a unique code consisting of 8 or 11 characters.
The identification code for Discount Bank (for all bank branches) on this network is IDBLILITXXX.
To improve service when receiving payments from overseas and to have the funds quickly credited to your account, please provide the remitter with your account number in IBAN format and ask them to fully note this number on the transfer.
Account information for receiving funds from a bank in Israel or overseas
Commissions
The cost for each type of transfer is as listed in the "Bank services commission schedule" as of the transfer date.
You may receive transfers on a regular basis for reparation or pension payments from overseas banks.
Reparation payments on a regular basis
Foreign currency reparation transfers on regular basis are received monthly or quarterly. As beneficiaries of reparation payments received on a regular basis, you can benefit from an account that is tax-free and commission-free.
To transfer the payments to your account, we would be happy to contact the appropriate institutions overseas, in your name and at your request.
After payment is received, your account will be credited for the payment, received in any currency negotiable at the bank . If you so wish, the funds may be converted into NIS.
Once a payment has been received, you will be sent notification of receipt of the payment.
In addition, the bank will issue a "living certificate" annually.
We handle pension payments (old age pension benefits, insurance) received from banks in France and pension payments received from banks in Russia.
Discount bank is party to a co-operation agreement with Bred Bank in France, whereby we directly handle transfers for clients of all Israeli banks.
Transfers on an irregular basis are received from overseas banks in favor of clients of Discount Bank and of other banks, for various purposes.
As bank clients, your accounts are directly and immediately credited when foreign currency transfers are received in your name from local or overseas banks.
