Advices on how to save on bank fees

1. Examine the nature of your activity in your current account!
When you examine the advisability of moving your account to a different bank, ask your bank to give you a form that sums up all your assets and liabilities vis-à-vis the bank. You can get one at no cost twice per year.

2. Compare the terms that your bank offers against those of other banks!

  • Insist that your bank give you benefits and discounts if you belong to a sector or population group that qualifies for them!
  • Negotiate with your bank over terms for the management of your account and ask for discounts and benefits on fees and interest payments!
  • Consider the advisability of switching banks. Remember, the cost of closing an account and switching banks is much less today than it used to be. (It is limited to NIS 40 per account and another NIS 40 for credit card, in addition to third-party expenses, if any exist).

3. Do your current-account business by yourself!
Even transactions such as charges by authorization, standing orders, drafting checks, and accessing information are considered direct transactions. For other transactions, use automatic machines, online services, and the call center.
Note: transactions such as making or withdrawing deposits, taking and paying back loans, and buying and selling securities are not charged as teller transactions even if you do them at the branch!

4. If you have devices that allow you to perform transactions directly (a cash withdrawal card or credit card) and you’re not using them, give them back!
That way, you’ll be able to carry out 4 transactions at the teller’s desk at the cost of one direct transaction. If you are a senior citizen or more than 40% disabled, you’re entitled to this benefit provided that you present the bank with the requisite documents.

5. Compare the cost of your credit card with that of cards issued by credit card companies directly!
Remember, you do not have to hold the card that’s issued by the bank where you keep your account.

6. Consider the possibility of putting numerous payments together on your credit card!
For the monthly charge for the card, your account will be charged only once. Therefore, putting all authorizations and making all payments on the credit card may help you save on bank fees.

7. Keep track of what you are paying each month for your credit card, especially if you have more than one card!
Remember, customers get discounts on their credit card fees as a function of how much activity they do with the card.

8. If you hold more than one credit card, ask yourself whether it is worth it!
If you have inactive cards, give them back to the company that issued them and save on fees.

9. Avoid splitting up transactions unnecessarily!
Some services carry a minimum fee for each transaction.

10. Before you split a credit card transaction into payments, ask yourself whether it’s worth it!
Since the credit card companies charge separately for each payment, paying small sums in payments may not be worth it.

11. When you compare, use the following:

  • short price lists
  • form for comparison of fees in current account
  • calculators and comparisons


see Tools and calculators

12. Always get answers to the following questions:

  • Are you entitled to benefits and discounts because you belong to a population group that the bank defines as qualified for an exemption or a reduction of fees?
  • Is your bank willing to offer you better terms than those listed on the price list?

13. Always check the interest rate:

  • Deposits—remember, you can deposit money with more than one bank (not only the one where you keep your current account). Transferring funds from bank to bank is much less expensive than it used to be; it’s the cost of one direct transaction. Compare banks to see which one offers you the highest interest rate!
  • Credit facilities—fees for credit facilities that are actually used have been canceled. The only thing you’ll still need to compare is the interest rate!
  • Loans—fees for loans up to NIS 50,000 have been canceled. The only thing you’ll still need to compare is the interest rate!