Find the best way to send money from Israel

Sending ILS 1,000 abroad through Bank Hapoalim's online channels costs at least ILS 92 in published fees before the exchange rate is even counted, on the bank's own 2026 tariff. The same money transfer from Israel through Wise cost between ILS 9 and ILS 16 on our October 2026 quotes to the US, Europe, the UK, India, the Philippines, Thailand and Sri Lanka.

Money leaves Israel in two very different ways. Around a quarter of a million foreign workers send wages home to Thailand, India, China, Sri Lanka and the Philippines, while Israelis pay for children studying abroad, support family in the US and Europe, and move savings for property.

This guide prices every common way to send money from Israel: the big banks, the online specialists and cash. It covers what each option costs in shekels, how long it takes, what you need before you start, and the one thing that catches most people out, the minimum fee on a bank transfer.

Who Sends Money From Israel

Two groups make most money transfers from Israel. Around 250,000 foreign workers, mostly from Thailand, India, China, Sri Lanka and the Philippines, send wages home, while Israelis send money to family, students and property in the US, Europe and the UK. Each group pays a different part of the price, so the cheapest option differs too.

That split matters because the two groups get hurt by different things. A caregiver sending ILS 3,000 home every month feels every fixed fee, and may not hold the Israeli ID that some providers ask for. A family moving ILS 200,000 toward an apartment abroad barely notices a fee and can lose thousands to the exchange rate. A freelancer paying a contractor abroad needs the money there on a set date.

Foreign workers sending wages home

Israel had about 250,000 legal and illegal foreign workers in August 2026, the highest number on record, according to Population and Immigration Authority figures reported by Globes. Thailand accounted for 26.5 percent of them, India 21.7 percent, China 11.8 percent, Sri Lanka 11.2 percent and the Philippines 9.5 percent, followed by Uzbekistan, Moldova and Nepal. The government's ceiling, 3.3 percent of the population, allows just over 330,000.

These transfers are regular, usually monthly, and often go to a mobile wallet, a cash pickup point or a rural bank account rather than a big city bank. Many workers hold a foreign passport and a work visa rather than an Israeli ID card, and that decides which providers they can use. Wise's shekel service asks for valid Israeli ID documents, while Remitly asks for a government photo ID such as a passport or visa.

Israelis supporting family, students and property abroad

Israelis send money to children at university in the US and Europe, to parents and relatives abroad, and for property, often in single amounts of ILS 20,000 or more. For these transfers the exchange rate and the percentage fee matter far more than any flat charge. A 1 percent difference on ILS 200,000 is ILS 2,000, which is real money on a house deposit.

New immigrants often keep accounts, pensions or mortgages in the country they came from for years, and many keep paying bills there. Regular payments of this kind look a lot like remittances: the same amount every month, to the same account, where a fixed bank minimum adds up quickly.

Freelancers and small businesses paying abroad

Israeli companies and freelancers buy services from contractors around the world, and small businesses pay suppliers in dollars, euros and yuan. Wise's shekel service covers personal accounts only, so a business needs a business account with its bank or a business provider. These payments usually have a deadline, so the speed and the certainty of the amount that arrives count as much as the price.

What Israeli Banks Charge to Send Money Abroad

Israeli banks charge a percentage commission on every transfer abroad with a fixed dollar minimum, a separate conversion commission, and an exchange rate margin. On Bank Hapoalim's 2026 tariff the two minimums are $24 and $5.70, about ILS 92, so a small transfer pays roughly 9 percent before the rate is counted.

The structure is the same at every big bank and is set out in each bank's published tariff, the taarifon. Three layers stack up. A transfer commission, usually a small percentage with a minimum and a maximum in dollars. A conversion commission when shekels are turned into foreign currency. And the bank's own transfer exchange rate, which sits below the mid-market rate. Direct channels, meaning the website and the app, are cheaper than a teller at every bank we checked.

Fees from each bank's tariff: Hapoalim dated March 2026, Discount dated August 2023 (the latest version we could read) and First International's current foreign currency part. Margins measured against the mid-market rate on ILS 1,000 quotes collected 20 October 2026 from Wise's public comparison data.

Bank Hapoalim

Bank Hapoalim, Israel's largest bank, charges 0.152 percent for a one-time transfer abroad made in its direct channels, with a minimum of $24 and a maximum of $136, and 0.19 percent at a teller, with a minimum of $30 and a maximum of $170. Very small amounts are cheaper: $2.80 up to $100 and $6.80 up to $200. Converting shekels into foreign currency adds 0.17 percent, with a minimum of $5.70.

The exchange rate was the bank's strongest point in our check. Hapoalim converted about 1.06 percent below mid-market to dollars, 1.13 percent to euros, 0.99 percent to pounds and 1.08 percent to Thai baht. On ILS 1,000 to the US that rate cost ILS 10.51, but the two minimum fees took the total to about ILS 103, ten times the cost of the rate itself.

Bank Leumi

Bank Leumi priced dollars 1.27 percent below mid-market on our quote, euros 1.13 percent and pounds 1.10 percent. Its Thai baht rate was much worse, 2.17 percent below mid-market, which cost ILS 21.60 on ILS 1,000 before any fee, the most expensive bank rate we found. We could not verify Leumi's current transfer commission from a published tariff, so ask for the full cost, commissions included, before you confirm.

Leumi's online international transfer service is for Israeli residents only. You join it once through a banker at your branch and can then save up to 20 beneficiaries, which is convenient for regular payments to the same people. The margin and the commissions still apply to every transfer you send through it.

Discount Bank

Discount Bank's tariff charges 0.22 percent for a one-time transfer abroad in direct channels, with a minimum of $22 and a maximum of $245, and 0.35 percent through the branch, with a minimum of $26.50 and a maximum of $250. Converting shekels into foreign currency costs 0.24 percent online, with a minimum of $8, and 0.38 percent in the branch. On ILS 1,000 that is about ILS 93 in fees before the rate.

Discount says a SWIFT transfer can leave the same business day, depending on the time you place it, which makes the bank route workable when money has to move urgently and the amount is large enough for the minimum fee not to matter. Its exchange rate margin was not in the comparison data we used, so compare the amount that arrives with the mid-market rate yourself.

Mizrahi Tefahot and First International

First International Bank's tariff charges 0.175 percent per transfer abroad, with a minimum of $25 and a maximum of $175, plus a 0.175 percent conversion commission with a minimum of $6.25, about ILS 97 on a small transfer. Mizrahi Tefahot publishes its tariff too, but we could not verify its foreign currency figures from the published file, so ask the bank for its transfer commission and its rate on the day.

The pattern is the same at every bank: a minimum of roughly $22 to $30 on the transfer, a few dollars more on the conversion, and a rate below mid-market. On ILS 50,000 the minimums stop mattering and the percentages take over, which is where the exchange rate margin becomes the bigger cost.

The exchange rate margin and the conversion commission

The mid-market rate is the midpoint between what buyers and sellers pay for a currency, the rate you see on Google or Reuters. Banks convert at their own transfer rate below it, and most also charge the separate conversion commission, so you pay twice for the same exchange. To see the margin, divide what the recipient will get by what you send and compare it with the mid-market exchange rate at the same moment.

Here is the worked example from 20 October 2026. At mid-market, ILS 1,000 was worth $321.44. Hapoalim's rate delivered $318.06 and Leumi's $317.37, so the rate alone kept ILS 10.51 and ILS 12.67. Sent once, that is small. Add Hapoalim's two minimum fees and the total was about ILS 103, more than 10 percent of the amount sent.

Hidden extras on a bank transfer

A SWIFT transfer can pass through one or more correspondent banks, and each can deduct a fee before the money lands unless you choose the OUR option, where you pay those charges up front at a higher price. The receiving bank may also charge an incoming fee. Our guide to international wire transfer fees explains each layer and who pays it.

Funding a transfer with an Israeli credit card can add a charge from the card issuer, and some issuers treat it like a cash withdrawal; our guide to paying for a transfer with a credit card covers when it makes sense. PayPal is the other expensive habit: it was not in the shekel data we used, but its conversion fee typically runs 3 to 4 percent above the mid-market rate, three times what the banks kept in our check.

The Best Ways to Send Money From Israel

The cheapest way to send money from Israel is an online specialist. Wise serves people with an Israeli ID and a personal bank account, and Remitly serves foreign workers sending home with a passport or visa. On our ILS 1,000 quotes they cost ILS 9 to 24 across seven routes, against roughly ILS 100 at the banks.

Xe sends money to Israel but does not take customers who live in Israel, so it is not an option for sending from here. Its list of countries where you can register covers Europe, the US, Canada, Australia and New Zealand only, checked on 22 October 2026. That leaves two specialists, and they suit different senders.

Wise

Wise converts at the mid-market rate and charges one fee, shown before you pay. On ILS 1,000 that fee was ILS 11.38 to the US, ILS 8.96 to Europe, ILS 9.45 to the UK, ILS 10.47 to India, ILS 10.98 to the Philippines, ILS 16.02 to Thailand and ILS 16.25 to Sri Lanka, and it is the whole cost of the transfer. The percentage falls as the amount grows: ILS 50,000 to the US cost ILS 255.17, about 0.51 percent.

To send shekels with Wise you need valid Israeli ID documents and a personal account, and you pay by bank transfer from your Israeli bank with your membership number as the reference; Wise's Israel site also mentions card payments, so check which options your account shows. A single transfer can be up to ILS 4.5 million. Our Wise review covers the account and card in detail.

Remitly

Remitly took over Rewire, a transfer service built for foreign workers in Israel, and it is designed for sending money home. You can send to a bank account, a cash pickup point, a mobile wallet such as GCash in the Philippines, UPI in India, and on some routes home delivery. You pay with a debit, credit or prepaid card, so the money is funded straight away.

Remitly advertises no transfer fees from Israel and earns its money on the rate. Its welcome rates on 23 October 2026 were 1.41 percent below mid-market to the Philippines, 1.43 percent to India and 2.39 percent to Thailand, which works out at ILS 14 to 24 on ILS 1,000. Welcome rates are for new customers, so check the rate again on your second transfer. Read our Remitly review and the Remitly vs Wise comparison for the full picture.

Which option for which transfer

The right choice depends on who you are and how the money needs to arrive. This is how the options line up for the transfers people actually make from Israel.

How Much Does It Cost to Send Money From Israel?

Sending ILS 1,000 from Israel costs about ILS 9 to 16 with Wise and ILS 14 to 24 with Remitly across the routes we priced, against roughly ILS 102 to 104 at Hapoalim once its minimum fees are added. On ILS 50,000 the gap is about ILS 255 with Wise against roughly ILS 690 at the bank.

The table prices ILS 1,000 on seven routes at once, because the cost of a money transfer from Israel changes with the destination currency. Total cost is the fee plus whatever the exchange rate took against the mid-market rate. Hapoalim's totals add its published direct channel fees, about ILS 92, to the margin we measured. Leumi's column shows the rate alone, because we could not verify its fees.

Wise quotes collected 22 October 2026 and bank rates 20 October 2026 from Wise's public comparison data; Remitly welcome rates from Remitly's Israel site on 23 October 2026. Rates move by the minute, so treat small gaps as noise and large ones as the real story.

A typical ILS 1,000 transfer

On the exchange rate alone, the banks looked close to Wise. Hapoalim's dollar rate delivered $318.06 on ILS 1,000 against $317.78 from Wise after its fee. The difference is the fee page: Hapoalim adds a $24 transfer minimum and a $5.70 conversion minimum, Discount $22 and $8, First International $25 and $6.25. Each bank lands between ILS 92 and ILS 97 before the rate is counted.

That is why small, regular transfers are where Israeli banks cost the most. A specialist with no dollar minimum keeps the cost near 1 percent, while a bank keeps it near 10 percent until the amount is large enough for its percentage to pass the minimum. On Hapoalim's tariff that point is roughly $16,000 for the transfer commission, far above what most people send in a month.

A large transfer: ILS 50,000

On larger sums the minimums fade and the rate does the damage. ILS 50,000 cost ILS 255.17 with Wise to the US and ILS 238.18 to Europe. If Hapoalim applied the margin we measured on ILS 1,000, the same dollar transfer would cost about ILS 529 in the rate plus ILS 161 in fees, roughly ILS 690 in total. Leumi's rate alone would take about ILS 637 before any commission.

For a property payment of ILS 500,000, a 1 percent margin is ILS 5,000, which is why large sums deserve a plan: verify your account early, ask about limits, and get the full quote on the day. Our guide to the best way to transfer large sums internationally walks through the steps.

What the gap adds up to over a year

Take ILS 3,000 a month, a common pattern for workers sending home and for families supporting a student. With Wise the monthly fee was ILS 21 to 31 across the US, India, the Philippines and Thailand, about ILS 255 to 375 a year. A monthly Hapoalim transfer in dollars or baht cost about ILS 121 to 124 each time once its minimums were added, roughly ILS 1,450 to 1,490 a year.

Switching saves more than ILS 1,000 a year on one modest monthly transfer, whichever of those destinations the money goes to. The saving grows with every extra payment, and it lands with the people you are supporting rather than with the bank.

How Long Does It Take to Send Money From Israel?

A bank transfer from Israel usually leaves the same business day and arrives in 1 to 3 working days, longer through correspondent banks. Wise estimated 4 to 6 days on our quotes, because shekel payments take 1 to 2 working days to reach it. Remitly says over 90 percent of funded transfers arrive within an hour.

Provider times are the providers' own estimates on 22 and 23 October 2026; bank times are the usual SWIFT range.

How long each option takes

A SWIFT transfer passes through your bank, often a correspondent bank, and then the recipient's bank, and each hop adds time. Discount says a transfer can leave the same business day depending on when you place it, but arrival depends on the banks along the way. Our guide on how long a wire transfer takes breaks down each stage.

Wise is slower from Israel than on most routes because the shekels travel by bank transfer. Funds usually take 1 to 2 working days to reach Wise, and conversion can take up to 2 working days, so our quotes placed on a Thursday evening estimated 96 to 144 hours across destinations. Remitly is faster because you pay by card, so the money is funded at once and paid out through local networks.

What slows a transfer down

Most delays come from a handful of causes. Banks have daily cut-off times for foreign currency transfers, and Shabbat, Jewish holidays and public holidays in the destination country all pause the payout. Your first transfer with a new provider takes longer while it checks your ID, and large transfers can trigger questions about where the money came from.

The recipient's details matter too. A wrong IBAN, a name that does not match the account or a missing SWIFT code can send the money back, often minus fees, days later. Our guide to the bank details you need for a transfer lists what each kind of account asks for.

How to Send Money From Israel, Step by Step

To send money online from Israel, open an account with a specialist, verify your ID, enter the amount and the recipient's bank, wallet or pickup details, then pay by bank transfer or card. A bank transfer works the same way through your bank's site, with the recipient's SWIFT code and IBAN or account number.

What you need before you start

You need photo ID and an address in Israel. For Wise that means valid Israeli ID documents, such as a national ID card, a passport or a driver's licence, and a personal Israeli bank account. Remitly asks for a government photo ID with your full name and date of birth, such as a passport or visa, and may also ask for a utility bill or bank statement. For large sums, expect questions about the source of the money, so keep a payslip, sale contract or pension statement to hand.

For the recipient you need their full name exactly as it appears on their account, plus the local details: an IBAN in Europe and the UK, an account number and IFSC code in India, a routing and account number in the US, or a mobile number for a wallet such as GCash. Getting these right the first time is the single best way to avoid a stuck transfer.

With an online provider

1. Create an account and verify your identity.
2. Enter how much you want to send and check the amount your recipient will get.
3. Add the recipient's bank, wallet or cash pickup details.
4. Pay by bank transfer from your Israeli account with Wise, or by card with Remitly.
5. Track the transfer and share the reference with your recipient.

Paying by credit card is quick but can cost more, because some card issuers add a charge on payments to a money transfer service. A debit card or a bank transfer is usually the cheaper way to fund it, and a bank transfer is the only way to move very large sums.

From your own bank account

In your bank's website or app, add a beneficiary abroad with their name, address, bank name, SWIFT code and IBAN or account number, choose the currency and confirm. Use the direct channel rather than a teller: Hapoalim charges 0.152 percent with a $24 minimum online against 0.19 percent with a $30 minimum at the counter. Ask whether the quote includes the conversion commission and whether correspondent fees will be deducted on the way.

With cash

Licensed currency service providers and agents still take cash for transfers, and for some workers without a bank account it is the only option. It is also the most expensive way to send money internationally from Israel, because agent rates are usually worse than online prices and cash draws more questions about the source of the money.

Israel's cash law has limited cash payments to a business to ILS 6,000 since August 2022, with some exemptions, and cash payments between individuals to ILS 15,000. If you have a bank account or a card, paying online leaves a clean record and usually gets a better rate, even when your family collects cash at the other end.

Limits, Tax and Reporting When You Send Money From Israel

There is no fixed legal ceiling on sending your own money abroad from Israel. The limits come from providers: Wise allows up to ILS 4.5 million per shekel transfer, and Remitly's limits rise as you verify more ID. Israel has no separate gift tax, but large transfers are checked, and gifting an asset abroad can be taxable.

How much you can send

Wise caps a single shekel transfer at ILS 4.5 million and accepts payment only from a personal account, for purposes that include supporting family or friends, education, property, pensions and paying for goods and services. Remitly sets limits by sending country, delivery method and destination, and raises them as you add ID. Banks set their own daily limits for online transfers, which you can usually raise through a banker.

For a large one-off payment, such as a deposit on property abroad, verify your account well before the deadline and ask the provider about its upper limits. A transfer that fails a check on the last day is the most expensive delay of all.

Is money sent abroad from Israel taxed?

Israel has no separate gift tax, and sending your own money to relatives abroad is not taxed in itself. The Income Tax Ordinance does treat a gift of an asset as a sale, and its exemption for gifts covers Israeli residents only, so giving shares or property to someone who is not an Israeli resident can trigger capital gains tax. Israeli residents are also taxed on worldwide income, so returns on money moved abroad still belong in your tax picture. This is general information rather than tax advice.

What triggers extra checks

Banks and licensed money transfer services report to the Israel Money Laundering and Terror Financing Prohibition Authority, both transactions above set amounts and anything unusual. In practice that means questions about the source of funds on large sums, on cash and on transfers that do not match your usual pattern. Splitting a payment into small pieces to stay under a threshold is a red flag, not a workaround, so keep your records and send in one go.

Is It Safe to Send Money From Israel?

Sending money from Israel through a licensed provider is safe. Banks are supervised by the Bank of Israel, non-bank transfer services need a licence from the Capital Market, Insurance and Savings Authority, and Remitly Israel holds two. Wise serves Israeli customers from its UK company, which is authorised by the Financial Conduct Authority.

Who regulates money transfer services in Israel

Non-bank financial services in Israel, including currency services and money transfers, need a licence from the Capital Market, Insurance and Savings Authority. Remitly Israel, based on Walter Moses Street in Tel Aviv, holds a financial asset services licence (56718) and a credit services licence (63687). Banks such as Hapoalim, Leumi, Discount, Mizrahi Tefahot and First International are supervised by the Bank of Israel.

Wise's Israel pages name its UK company, authorised by the Financial Conduct Authority under the Electronic Money Regulations with firm reference 900507, and we did not find a separate Israeli licence for it. That does not make Wise unsafe; it means its main regulator is in the UK. Before you use a smaller exchange shop or app, ask for its licence number and check it with the Authority.

Scams that target senders

The risk is rarely the provider. It is the person asking for the money. Common scams aimed at people in Israel include text messages and calls that pretend to come from your bank, investment offers promising fast returns abroad, romance scams, and fake job offers that ask workers to pay a fee to secure a placement. Once cash has been collected at an agent, it is almost impossible to get back.

The Routes People Send on Most From Israel

Thailand, India, China, Sri Lanka and the Philippines take most of the money foreign workers send from Israel, while Israelis send mainly to the US, Europe and the UK. Each route has its own details that decide how fast and how cheaply money arrives, from wallets in the Philippines to UPI in India.

Israel to Thailand

Thai workers are the largest foreign workforce in Israel, much of it in agriculture. Transfers usually go to a Thai bank account such as Bangkok Bank, Kasikornbank, Krungthai or SCB, or to cash pickup. Thailand was the most expensive route we priced: ILS 16.02 with Wise and ILS 23.86 with Remitly on ILS 1,000, while Leumi's rate alone cost ILS 21.60. See the Israel to Thailand page for live prices.

Israel to the Philippines

Many Filipino workers in Israel are caregivers, and their families often receive money in GCash or Maya wallets or collect it at M.Lhuillier or Cebuana Lhuillier. Wise cost ILS 10.98 and Remitly ILS 14.08 on ILS 1,000, and the banks were not in the comparison data for pesos. Compare today's rates on the Israel to Philippines page.

Israel to India

Indian workers in Israel are concentrated in caregiving and construction, and recipients can be paid into a bank account with an IFSC code, by UPI or through cash pickup. Wise priced ILS 1,000 at ILS 10.47 and Remitly at ILS 14.25. Check prices on the Israel to India page.

Israel to the US and the UK

Israelis sending to children at college, to family or for property in the US and the UK usually pay into a bank account. Wise cost ILS 11.38 to the US and ILS 9.45 to the UK on ILS 1,000, and ILS 255.17 on ILS 50,000 to the US. See the Israel to US and Israel to UK pages.

Bottom Line

The cheapest money transfer from Israel is an online specialist. Israeli banks keep about 1 to 2 percent in the rate, but their dollar minimums add about ILS 92 to 97 to every transfer, which makes small and regular payments expensive. If you hold an Israeli ID, Wise was the cheapest option on every route we priced. If you work in Israel on a foreign passport, or your family needs cash or a wallet, use Remitly. Either way, compare the amount that arrives rather than the fee, and see our guide to the cheapest international money transfer for more ways to cut the cost.

Sources

• Wise public price comparison data, ILS to USD, EUR, GBP, THB, PHP, INR and LKR, collected 20 to 22 October 2026
• Bank Hapoalim tariff, foreign currency appendix (March 2026)
• Discount Bank tariff, part 5 foreign currency (August 2023)
• First International Bank tariff, part 5 foreign currency
• Bank Leumi: International money transfers
• Discount Bank: Foreign exchange transfers
• Wise: Guide to ILS transfers
• Wise Israel: Send money online
• Remitly Israel: Send money to the Philippines
• Remitly Israel: Send large amounts of money internationally
• Xe: Countries where you can register to send money
• Globes: Is Israel prepared for 330,000 foreign workers? (August 2026)
• Globes: Tighter restrictions on cash use coming into force (2022)
• SD Tax: A gift in Israel, taxation and exemption
• Herzog Fox and Neeman: IMPA reporting guidelines for financial asset and credit service providers