Eurogiro Money Deposit Service for Banks Overseas

The Postal Bank enable people to transfer money to a bank account overseas and customers who have a Postal Bank account can receive money from overseas into their account.

Dear Costumers, due to the security situation, the Israel Postal Bank enables it's bank account holders to send money abroad directly from their accounts to bank account abroad. The transfers are performed in a safe, convenient and simple way without the need of going to the branch

Customers that are registered to the digital services (level 4) can send money directly from their account via our site or via the "Postal Bank Manage account" mobile app

Accounts that are not yet registered to digital services can download the attached form  fill and sign it and send it by mail or by fax: 02-5005300 for a quick registration 

- Money is transferred within one business day

- Attractive and particularly low fees

- Money can be transferred to any bank in the world*

- The sender does not need to have a bank account.

- Postal Bank account holders can execute a transfer without arriving at the branch.

• To pay for import of goods from overseas
• To receive money for exporters and others who receive money from overseas
• For payment of university tuition overseas
• For payment for medical and other institutions
• To transfer money to support relatives and friends
• To pay advances for vacation abroad
• Payment of traffic tickets overseas

• Israeli citizen – ID only / foreign resident, tourist – passport and another form of ID caring a picture of the holder
• Name of account to be credited as it appears in the bank ledgers, in English
• Account number of the beneficiary, Euro transactions to Europe require the IBAN (International Bank Account Number) code
• Bank details: name of the bank, branch name, and bank code (Swift, Aba or Sort code if necessary)
• Correspondent (Brokerage) bank details and transaction details

For Eurogiro transfers whose amount exceeds $2000 in which the beneficiary is not one of the following:

- Transfer to an immediate relative

- Credit an account overseas – name of the beneficiary is identical to the name of the sender.

- Donation to an institution – name of the beneficiary in the transaction will be identical to the name of the institution

- Institution of higher education. Name of the beneficiary will be the name of the institution itself, or present a document from the institution with instructions for the customer.

The customer must provide one of the following documents: Exemption or confirmation of deduction of tax at source / INVOICE or any other document instructed by the Tax Authority with regards to money transfers abroad.

Transfers overseas may be paid using various payment methods:

- Cash: in NIS, dollars or Euro

- Payment by credit card (in the Post Office branch only): there is an option to make one payment or payment in installments. Transfer by card.

Credit limited to up to NIS 10,000 and incurs payment of a fee that is collected by the credit card company and under its responsibility.

In bank transfer to a transitional account or immediate bank transfer “RTGS transfer”

By personal / bank check in accordance with the bank’s restrictions.

Postal Bank account holders may make a direct transfer from their account by way of order sent by fax or on the Home Banking website.

This service includes two types of service fees

OUR fee payment of this fee ensures that the money will arrive in full in the beneficiary’s bank and without additional brokerage costs. This fee does not cover payment of taxes or fees in the beneficiary’s account.

BEN fee – this fee is adopted by most banks, the sender of the transaction pays a reduced fee and the brokerage banks collect additional fees for the transfer. These fees vary from bank to bank and are set forth by the banks at their responsibility.

Transfer fee is paid for in NIS based on the transfer rate of the Postal Bank at the time of the transaction.

In post office branches that provide foreign currency services, payment of the principal of the transfer can be made in NIS, dollars or Euro. The fee is paid in NIS only (for payment of the principal with foreign currency, a foreign currency service fee will be collected (0.75% of the principal of the transfer).