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Banking in Israel

Best banks in Israel for expats & digital nomads

Opening a bank account is one of the first things you do after moving to Israel. Here are the accounts that work for newcomers and non-residents, plus the fintech we would set up before you fly.

How to open a bank account in Israel

New immigrants (olim) can open at any of the five major banks with fee-waiver packages; a passport/teudat zehut and proof of address are the basics. Non-residents face stricter KYC (roughly 2-8 weeks review and a meaningful rejection rate); the practical route is a mainstream bank's international desk, which can start the process remotely by upload and video-KYC. Fully digital banks (Pepper, One Zero) are open to Israeli ID holders only.

Our top pick

Wise multi-currency account

Wise is the option we recommend for almost anyone moving to Israel: hold and convert 40+ currencies, get local account details to be paid like a local, and send money at the real exchange rate with low, transparent fees. It works before you even arrive, so you can receive income and pay deposits while your local account is still being set up.

Open a free Wise account →

Affiliate link: we may earn a commission at no cost to you. Wise is a fintech, not a bank; balances are safeguarded, not covered by deposit insurance.

Top banks in Israel

Bank Hapoalim

traditional
Largest bank, strong English support and oleh desk

Israel's largest bank with international branches (NY, London) and a dedicated oleh (new-immigrant) package; leading English-language app.

Bank Leumi

traditional
Newcomers wanting English service plus a digital add-on

Second-largest bank; competitive oleh package and parent of digital bank Pepper for a hybrid setup.

Israel Discount Bank

traditional
Responsive service and oleh packages

Third-largest bank; offers new-immigrant incentive packages; non-resident compliance has tightened since 2020.

Mizrahi-Tefahot Bank

traditional
Mortgages and property buyers

Dominant mortgage lender; the go-to if you plan to buy property in Israel.

First International Bank of Israel (FIBI)

traditional
Smaller, more personal banking

Smaller of the big five; some attorneys report more flexibility on non-resident files, though branch-dependent.

Pepper

digital
Fee-free everyday banking (Israeli residents only)

Digital bank by Bank Leumi; fully online onboarding is limited to Israeli ID holders, so not open to non-residents.

International accounts & neobanks

Payoneer

Israeli company; residents can receive international payments (incl. ILS receiving account) and withdraw to a local bank.

Availability changes; confirm on each provider's site.

Next steps in Israel

See the full Israel tax, cost and visa profile, or compare Israel with other destinations. Not sure where to go yet? Take the finder quiz.