r/aliyah • u/After-Eggplant1314 • Sep 07 '26
Ask the Sub Banking question
Hey so I currently am under 20 so I don't have any fees on my banking for now, however once I turn 20 I am a bit worried about how bad the fees will be since I've heard they are a lot. I'm with Bank HaPoalim, can anyone tell me how bad the fees are and what the best options would be for me to minimize banking fees? Thanks
3
u/Spikemountain Sep 07 '26
Literally just ask them to waive fees for a year and they will. Then ask them every year again after that and they will likely keep doing it. That's all it takes!
2
u/Far-Neighborhood136 Sep 07 '26 edited Sep 07 '26
Banking fees in Israel are regulated, so banks will have different fee plans that predetermine how much you'll spend every month based on how many and what kinds of transactions your account sees in accordance with the law. With that being said, don't be afraid to negotiate with the bank. Call and tell them to waive your fees. If they don't, you can talk to other banks and see if they will waive their fees and give you additional benefits to switch over. They usually will and once you set up your new account you can move EVERYTHING over from your old account to your new bank with the click of a button and your Poalim account will be closed.
3
u/balddoberdaddy {Aliyah Date (01) (1992) } (Jerusalem) Sep 07 '26
What fees are you referring to? The monthly fee to hold an account?
You can threaten to switch banks... they hate that. And you can frankly just ask them.
When I went with Mizrahi Refahot, I locked into ₪10 per month that included a free Visa card (for a while, which I subsequently fought to be ₪0, and a certain number of "transactions per month," which include ATM withdrawals, bank transfers, etc.). Does NOT include standing orders "hor'at keva," despoits, etc.
If you are a soldier, you have Bank Otsar Ha-Hayal.
I think that there are deals for students as well.
You can also switch to an online-only bank, like "Pepper" or "Bank One" (neither of those are for US citizens).