Transferring money from the US to Israel

You will almost certainly need to move money from the US to cover rent, tuition, and living costs. How you do it affects how much arrives. MAIN OPTIONS • Bank wire: Simple and secure, but fees are often high at both ends, and exchange rates are marked up. • Online transfer services: Services like Wise, OFX, and Remitly often have lower fees and better exchange rates than banks. Compare before sending. • Money-transfer shops: Convenient but usually more expensive. • Cards and ATMs: Withdrawing with a US card is easy but costs fees. TIPS • Compare the total cost: the upfront fee plus the exchange rate. The rate is where most of the cost hides. • Compare the rate you are offered with the mid-market rate on Google. • Send larger amounts less often. Fixed fees hurt less on a big transfer. • Give your Israeli bank your account details exactly, including the IBAN and SWIFT code. WATCH OUT FOR Large transfers may trigger questions from the Israeli bank about the source of funds. Keep a letter or statement showing where the money came from.