Tracks for current account fees

The amendment to the Banking Regulations (Customer Service)(Fees), 5768–2008 requiring banks to include the basic track and the expanded track within the current account management services they offer their clients takes effect as of, April 1, 2014.  

Until then, the banks charged a fee for each activity in the current account, whether the activity was a teller-executed activity or customer-executed activity. 
As of today, the banks are required to offer their customers an additional pricing method: one price for the basic services inherent in managing a current account (a basic track or an expanded track). 


The basic track
Includes up to 10 customer-executed activities and up to one teller-executed activity. The price for the basic service is under supervision and may not exceed NIS 10.    
The expanded track
Includes up to 50 customer-executed activities and up to 10 teller-executed activities.
The premium (expanded-plus) track
Some of the banks are also offering an additional premium (expanded-plus) track that includes the activities in the expanded track plus additional services that are unique to each bank.
This track calculator will assist you in comparing and choosing the least expensive and most appropriate charging method for you — the basic track, the expanded track, or not joining a track, which means charging according to the method they have had until now—payment for each activity. Also, by way of the calculator, you can immediately see what the costs of managing your account are at each of the other banks.
It is important to note that every customer can move from one charging method to another by giving advance notice to the bank.  The change in the charging method will take effect on the first of the month following the date notice is given to the bank (meaning that if someone joins a track during April, it will take effect on May 1st.)  The charge for the track will be made on a monthly basis, at the beginning of each month, for the month preceding it.  Furthermore, it is possible to join the tracks by calling the call centers of the various banks, by sending a fax, or at the bank branches. 
How the calculator works?

The calculator is based on the number of activities executed by the customer in a month, and on the price of the tracks at the various banks. A customer who does not know how many activities he or she executes in a month, whether teller-executed or customer-executed, can review his or her bank statements, or obtain this information directly from the bank via each bank’s call center.