Foreign exchange transfers

Discount Bank has working relationships with major banks in many countries around the world, which allows you to make foreign exchange transfers from your account in Israel to various banks abroad. The transfers can be made in two ways: the SWIFT system or via a banking check.


SWIFT is a communication system between banks that allows the transfer of funds between different countries in the world on the same business day, depending on the time of the transfer.

SWIFT transfer – the details that are required to make the transfer:

The details of the transferring client: account number, full name and address.

The details of the receiving bank abroad: the SWIFT code, the name of the bank, the name of the branch and its address.

The details of the receiving client abroad: account number, full name and address.

The nature of the transfer

For a list of currency codes according to ISO standards

It is important to know that when making a transfer to banks in the United States, the bank number must be indicated in the Federal Clearing House (FW). This number is called ABA No. or ROUTING No., and it is 9 digits long.

When making transfers to banks in Europe, the clients' account numbers must be stated according to the IBAN (International Bank Account Number) standard.

Below is a breakdown of the IBAN structure that was published by various European countries

Below is a link to examine the IBAN numbers (the link leads to an external website)

Before contacting Discount Bank in order to make the transfer, it is necessary to check the correctness of the IBAN number that is in your possession. Please remember that Discount Bank is not responsible for the reliability of the data appearing on the website.

Unique requirements for money transfers to certain countries or currencies

Egypt – payment details to the beneficiary – the purpose of the transfer

India – payment details to the beneficiary – the purpose of the transfer

Jordan – payment details to the beneficiary, the purpose of the transfer, and a four-digit long purpose code. The list of purpose codes can be found on the websites of Jordanian banks.

Unique requirements when making transfers to Russia in the ruble currency – for more details on the subject: Disruptions in the banking operations vis-a-vis Russia

Bank details

The beneficiary's account number has 20 digits, where the first digit is 4, the second is 0, the sixth is 8 and the seventh is 1

INN number for private clients is 10 digits long, and for a company this number is 12 digits long

KPP number beneficiary code is comprised of 9 digits

BIK clearing code of the beneficiary bank begins with the letters RU and is followed by 9 digits (the identification number of the bank)

The bank number in the Russian Central Bank, a sequence of 20 digits starting with 301 or 303

Bank fees when transferring foreign currency from Israel to another country

Transfer fee, SWIFT expenses (for large businesses only), correspondent expenses, exchange fees or exchange rate differences are determined according to the method of payment in foreign currency or in shekels. Transfers up to USD 10 are exempt from fees. Transfers of USD 10-100 will be charged half the transfer fee, including on the minimum.

Transfer of funds abroad using a banking check in foreign currency

Clients who wish to transfer funds abroad using a banking check in foreign currency can purchase the banking check at the branch in which their account is managed, specify the name of the beneficiary abroad – and send the check to them by post, where the account will be debited according to the business day value on the day on which the banking check was purchased.

The details that are required in order to perform a foreign exchange transfer via a banking check are: the name of the receiving client, on whose name the foreign currency will be issued, as well as the amount and the purpose of the transfer.

The fees involved in making a foreign exchange transfer using a banking check: the banking check fee (if the amount of the transfer is less than USD 100, half of the minimum fee will be charged), an exchange fee if a purchase is made and a foreign currency account for the desired currency does not exist.

Foreign currency transfers from other countries to Israel

Discount Bank allows its clients to transfer foreign currency from other countries to Israel. The bank has several systems that handle these (regular and occasional) transfer payments:

The transfer of foreign currency from other countries to Israel is carried out using the SWIFT system. A bank that is a member of the SWIFT network is identified by an 11-character code, and the identification code of Discount Bank in this network is: IDBLILITXXX

For your attention,

As of January 1, 2018, it is recommended that transfers of funds from another country to an account in Israel include the account number in the IBAN structure.

Failure to transfer the funds in the IBAN structure may cause a delay in the transfer of the funds to your account. To avoid the delay, the transferor should be given the account number in the IBAN structure, which includes 23 characters.

The IBAN number in the various currencies can be obtained at the branches of the bank, as well as on the website of the bank or through the feedback system.

Account details for the purpose of receiving funds from a bank in Israel or abroad

The fees that are involved in transferring foreign currency from abroad to Israel

Transfer fee, SWIFT expenses (for a large business), exchange fee or exchange rate differences according to the method of payment (shekels or foreign currency).

Payment mechanisms for regular transfers

It is possible to make regular transfer payments for annuities or pensions from abroad to Israel.


Regular foreign exchange transfers are accepted on a monthly or on a quarterly basis. Those entitled to regular annuity payments benefit from an account that is exempt from income tax and fees. In order to transfer the annuity payment to your account, we will contact the various institutions abroad on your behalf and at your request. After receiving the payment, your account will be credited with the annuities that have been received in all types of currency and, if you are interested in it, it will be converted to shekels. If there is no foreign currency account, the funds will be credited according to the instruction that was given from abroad. After receiving the payment, a notice will be issued to you about the receipt of the annuity. In addition, the bank will approve "life certificates" for you once a year.

Discount Bank handles pensions (retirement, benefit, insurance) that are received from banks in France and in Russia.
Payment mechanisms for occasional transfers
Occasional transfer payments are received from banks abroad for the benefit of Discount Bank clients and other banks for various purposes.
The transfers are transferred to the bank in which the client's account is managed on the same date.
The fees for each of the types of transfers are as published in the "Tariff of Fees for Bank Services" as of the date of the transfer.