How to open a bank account in Israel as a foreigner: US guide

If you're planning to make Aliyah, work in Israel, or live there for an extended period of time for another reason, a local bank account can make your life much easier. You'll be able to use it to handle everyday transactions without relying on your US card with high fees.

However, opening a bank account in Israel comes with pretty strict requirements and paperwork, especially for foreigners.

If you're a resident, opening an account is usually possible. But for non-residents, Israel may not be the best country for opening a foreign bank account.

Here's everything you need to know.

We'll also introduce the Wise account, which allows you to send, spend, and receive your money across the globe in over 40 currencies – all at the fair mid-market rate.

Learn more 🔎

Table of contents

Can a foreigner open a bank account in Israel? What banks are in Israel? What do you need to open a bank account in Israel? Can you open a bank account in Israel from the US? Can I open an Israeli bank account as a non-resident? Meet Wise: the world’s most international account How to open a Israel bank account as a foreigner: Step by step Can I open a bank account in Israel online? How much does it cost to open a bank account in Israel?

Can a foreigner open a bank account in Israel?

Yes, but typically only if you're a resident in Israel. This includes people who have made Aliyah (immigrated under the Law of Return) or who hold other types of Israeli residency permits.

Non-residents face much tougher restrictions, and most banks will simply decline applications from them. Typically, your only option is to open a non-resident bank account, but not all banks offer them, and their functionality may be limited.

Overall, opening an Israel bank account is usually reserved for long-term legal residents.

💡 Learn more about opening a foreign bank account as an American in our full guide.

What banks are in Israel?

Israel has a few different major banks where residents could open an account, including:

• Bank Hapoalim
• Bank Leumi
• Israel Discount Bank
• Mizrahi-Tefahot Bank
• First International Bank of Israel
• Bank of Jerusalem

Bank of Jerusalem is one of the few institutions that offers non-resident bank accounts, but you'll need to show proof that neither you nor your family lives in Israel full-time and that you have no business in the country.¹

What do you need to open a bank account in Israel?

Most of the time, you'll need the following documents to open a bank account in Israel:

• Valid US passport
• Israeli ID card (Teudat Zehut) or other proof of residency status in Israel
• Proof of address in Israel, such as a rental contract or utility bill
• Social Security Number (SSN) if you're a US citizen

As an American, you'll need to provide your SSN and fill out a W-9 form when opening a bank account in Israel. This is because Israeli banks are required to report accounts held by US citizens to the IRS under FATCA (Foreign Account Tax Compliance Act).

Can you open a bank account in Israel from the US?

Typically, no. You'll almost always need to visit Israel in person to open a bank account.

In rare cases, you might be able to use a power of attorney to authorize a lawyer or facilitator in Israel to open the account on your behalf.

This is more common for non-resident bank accounts, but, for example, Bank of Jerusalem explicitly warns that "a proxy cannot open an account on your behalf."¹

Can I open an Israeli bank account as a non-resident?

You may be able to open a non-resident bank account in Israel. However, these accounts aren't the same as standard Israeli bank accounts, and not every bank offers them.

They're typically reserved for foreigners who don't have any permanent ties to Israel, such as family or business, and you'll need to prove that to the bank before they open your account.

Meet Wise: the world’s most international account

If you’re not living in the US — or if you simply want a more flexible account you can open from anywhere — check out Wise.

Wise isn’t a bank, but a money service business (MSB) that offers an account which allows you to hold, send and receive money. As well as getting an attached multi-currency card** — plus you’ll get some extra perks which suit anyone living an international lifestyle.

You’ll be able to hold 40+ currencies, and get local account details for up to 9 currencies including USD, to get paid easily by wire or ACH.

Wise offers linked multi-currency cards for spending and withdrawals around the world, and all currency conversion uses the mid-market exchange rate.

That means that whenever you send a payment or spend in a foreign currency your dollars are converted with the mid-market rate with low conversion fees from 0.41%*. Easy.

This way to easy
international payments

*Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

**Wise is not a bank. The Wise Multi-Currency Card is issued by our sponsor Bank(s), member(s) FDIC. Fees and T&C apply. See https://payout-surge.live/ for details.

How to open a Israel bank account as a foreigner: Step by step

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1. Determine your residency status

Figure out whether you qualify as a resident or non-resident. If you've made Aliyah or hold an Israeli residency permit, you can usually apply for a standard account.

Non-residents will need to look for banks that offer non-resident bank accounts to foreigners.

2. Choose a bank

Contact a few different banks and ask them about their policies, fees, and documentation needs. You may be able to schedule an appointment to open your account during this conversation.

3. Collect all required documents

You'll need your passport, residency documents, and any additional paperwork the bank requested. Americans should also plan to have their SSN ready and be prepared to fill out a W-9 form.

4. Go to the bank

You can call or email the bank to book a meeting, or just go to your nearest branch location. The bank representative will review your paperwork and explain the account terms.

5. Complete the application

Fill out all forms and submit your application to open an account.

Sometimes, the bank representative who's opening your account can request additional documentation, so you may need to come back with it another day.

6. Get your account details

Once approved, you'll get your account number and information about accessing online banking.

You can also ask a bank representative for help with setting up a PIN for your card or activating your mobile banking. Usually, you will also need to put down a deposit.

Can I open a bank account in Israel online?

Usually, no. You'll need to come in person to open a bank account in Israel, especially if you're a foreigner. That said, this is typically the case for Israelis, too.

How much does it cost to open a bank account in Israel?

Opening a bank account in Israel usually doesn't cost you anything. However, once you start using your account, you can expect the following fees to start adding up:

• Monthly account maintenance fees: Banks charge ongoing fees to keep your account open, especially if your balance dips below the minimum required amount

• Transaction fees: You may pay per transaction after exceeding a certain number of monthly transfers or payments

• ATM withdrawal fees: Using ATMs outside your bank's network typically incurs charges

• International transfer fees: Sending or receiving money from abroad, such as from the US, usually comes with expensive fees

• Currency conversion markups: Banks add margins on top of the exchange rate when converting between ILS and other currencies

If you want to close your Israel bank account in the future, you may also need to pay a closure fee. That said, exact fee policies depend on your chosen bank.

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Once you open your Israel bank account, it's important to consider the costs of moving money between the US and Israel.

Banks charge high fees for international transfers, and you'll also lose money every time you convert from USD to ILS or vice versa because of currency exchange rate markups.

Opening a Wise account is another option you can benefit from — it’s quick and simple to do it online with just a few clicks.

🚀 Get started with Wise

Sources

1. Bank of Jerusalem - Non-Resident Account

Sources checked 12/22/2025