Based on the banks’ reports of actual revenue from fees during the first quarter of 2012:
  • In comparison with the third quarter of 2011 (when the previous report were submitted), the average actual monthly expenditure on common current account services at the five major banks declined and the average monthly cost of holding a credit card increased.
  • About 80 percent of households that maintain a bank account pay less than NIS 14 for the account on monthly average, and 70 percent of credit card holders pay less than NIS 7.10 per month for holding their cards.
  • A comparison according to the standard profile of activity in a current account (teller-executed and customer-executed transactions) reveals large differences among the banks:

For the banking system as a whole, Bank Yahav is the least expensive (monthly cost: NIS 6.30) by a significant margin. At the other extreme, Mercantile Discount Bank and Poalei Agudat Israel (PAGI) Bank are the most expensive (monthly costs of NIS 21.80 and NIS 21, respectively).


Among the five major banks, Bank Hapoalim is the least expensive (NIS 12.20 per month) and Israel Discount Bank is the most expensive (NIS 17.20 per month).

  • Fees for holding a credit card also varied widely:
  In terms of the average monthly cost of holding a domestic, international, or “gold” card, Isracard was least expensive (NIS 4.50) and ICC (CAL) was the most expensive by far (NIS 10).
  • The Banking Supervision Department publishes a comparative schedule of fees charged for transactions in domestically traded securities—buying, selling, and redeeming[1], and a management fee for a securities deposit. Comparison of these rates shows large differences among the banks; Bank Yahav is the least expensive.
  • Over the past quarter, the following banks announced that they would be lowering their fees for individuals and small businesses:
  Israel Discount Bank announced reductions in the customer-executed transaction fee (from NIS 2 to NIS 1.85), the small-business management fee (from NIS 150 to NIS 80), bank cashier's checks fee (from NIS 20 to NIS 13.5), fee for recalling check for technical reason (from NIS 25 to NIS 18.50), and cancellation of charge instruction (from NIS 25 to NIS 18.50).
  Bank Leumi and the Arab Israel Bank reduced their percentage denominated fee for the purchase and sale of Israeli securities (shares and bonds) from 0.75 percent to 0.7 percent, effective August 1, 2012.
  Bank Leumi and the Arab Israel Bank lowered their small-business management fee from NIS 85 to NIS 60 per month, effective July 1, 2012.
The Bank of Israel invite the public to examine and compare the terms offered by the various banks and has made a variety of tools available to consumers on its Web site, including saving tips, calculators, and comparative tables:

[1] Shares and bonds.


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