"Worth Knowing" – series of guides on banking consumerism with the aim of increasing the public's financial awareness

  • The Banking Supervision Department is working to increase financial awareness among various population groups in Israel society.  In recent years, activities have been held for households, youth, soldiers, and senior citizens, and a large amount of material has been published on the Bank of Israel's website.
  • In the coming weeks, the Banking Supervision Department will publish a series of focused guides on banking consumer issues, which will be called "Worth Knowing – Banking Consumer Advice from the Banking Supervision Department's Experts".

 

Many households frequently have questions concerning their bank accounts—questions that are important in managing their day-to-day lives.  One of the aims of the Banking Supervision Department is to increase financial awareness among various population groups in order to reduce information gaps, improve economic well-being, improve customers' awareness of their rights, and protect the banking customer.  In recent years, the Banking Supervision Department has led various activities throughout the country to increase financial awareness among various population groups (households, youth, soldiers, and more), and to guide senior citizens in acclimatizing to digital banking.

 

In addition, the Banking Supervision Department led broad public information campaigns on the "Money Mountain 2" system to find dormant bank accounts and deposits, the advantages of conducting banking transactions through digital means, encouraging the public to use debit cards, and more.  Now, in addition to the existing material on the Bank of Israel website, the Banking Supervision Department will be publishing a series of guides on banking consumerism in order to assist the public in making informed decisions as part of the management of their bank accounts.

 

Supervisor of Banks Dr. Hedva Ber said, "For the public, it is 'worth knowing' fundamental banking terms in order to manage their accounts properly and advantageously.  The new series of guides will present the broad public, on the Bank of Israel's website, with practical and relevant financial behavior tools—day-to-day banking in a simple and straightforward manner, with the aim of helping the public manage their bank accounts with knowledge and control."

 

The first guide to be published (link) is on the topic of consumer credit, and its aim is to help the public make informed decisions before taking out loans.


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