Bank accounts

An Israeli bank account is the backbone of daily life. Rent, utilities, phone plans, tuition, Bit and PayBox, and most Israeli debit and credit cards all run through it. You can live without one for a few weeks, but not much longer. THE BASICS • Five banks dominate: Leumi, Hapoalim, Discount, Mizrahi-Tefahot, and the First International Bank (FIBI). All offer English-friendly service at some branches. • Opening an account usually takes one in-person visit. Many branches now require an appointment. • Expect a monthly management fee. Ask what it is before you sign. WHAT TO BRING • Passport and your visa • Proof of address (a lease, or a letter from your school or dorm) • Proof you are a student (acceptance or enrollment letter) • Your US tax ID (SSN) and a signed W-9, because Israeli banks must report US persons WATCH OUT FOR • Banks are not required to open an account for non-residents, and branches differ. If one says no, try another bank or another branch. • Ask for an English-language online banking app and a debit card at the same time. Full details are in Section 2, Banking and Money.