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Useful suggestions and Tips

Examine the advisability of transferring your banking activity

You may request the "information form" (in Hebrew) from the bank in which your account is handled, which specifies your assets and your liabilities in the bank. The form will help you to choose the bank in which you wish to conduct your banking activities.  Read more...
The information in the form must include details of all the assets and liabilities that you have at the bank and the costs involved in their early payment, details of the credit facility in the account, fees that were charged to the account in advance, the existence of powers of attorney, and so forth. The form can help you to examine the advisability of transferring the activity and focus your attention on issues that must be addressed before closing the account.

The information form must be issued to you by the bank within four business days from the time of the application. You are also entitled to receive this form twice a year free of charge.  Hide

Partial transfer of your banking activities

Since you also have the option of a partial transfer of your banking activities to another bank, it is advisable to examine each one of your spheres of activity separately and to select the most suitable banking corporation for managing your activities, in accordance with the conditions and the offers before you.  Read more...
You can transfer all or part of your banking activities from one bank to another, such as investments in deposits in another bank (and returning the monies to your current account at the bank upon conclusion of the deposit, without the need to keep another current account), transfer the activity in a current account only, and even obtain a credit card issue directly by a credit card company and not by the bank in which you keep your account.  Hide

Transferring your current account, loans, deposits and savings

It is worth remembering the following when transferring part of the activity:  Read more...

  • Current account- If you decide to transfer the activity in your current account to another bank, but to leave a loan, deposit, savings plan or monies for paying future debits on a credit card in the transferring bank, you can instruct the bank to close only the activity in the current account and ascertain that the remaining account is classified as one that will not be charged with management fees for a current account.
  • Loans- If the account contains securities that are satisfactory to the transferring bank for loans that you have taken out, it is obligated to enable you to continue to pay the loans through your account in the new bank.
  • Deposits and savings- If you leave savings and deposits in the transferring bank, you can instruct the bank to transfer the deposits, when they mature, directly to your new bank account.

Avoiding the need for additional visits to the branch

When closing the account, it is advisable to be sure that you have signed explicit instructions to the bank for all your assets or liabilities.  Read more... It is also advisable to sign a form for giving telephone or fax instructions, to avoid the need for additional visits to the branch if the need should arise.  Hide

Transferring continuing transactions in debit cards

The new bank can help you to implement some of the actions entailed in the transfer:  Read more...
The new bank must help the customer to give information to beneficiaries on the change in the details of the account for debiting. The old issuer is responsible for transferring continuing transactions in debit cards and it must work with the suppliers to transfer the continuing transactions from the old card to the new card. The process is done automatically, after the customer submits a request to the new bank, if the customer does not wish to do so himself.  Hide