SWIFT/BIC codes in Israel

Bank SWIFT codes for Israel

This overview contains 43 banks and other institutions in Israel and 79 SWIFT/BIC codes between them. A BIC tells every bank in the chain which institution is meant to get the money.

Every bank has its own page showing the head office code and if there are any, codes for branches and departments. Below the list we explain how codes from Israel are built, how to send money to Israel at a fair price and how to check a code before you pay.

Check the code before you pay

Have the recipient send you the account details directly from their online banking. When the code you were given differs from the code listed here, do not guess – contact the recipient or their bank.

We collect SWIFT/BIC codes from publicly available data and update our list from time to time. Even so, banks merge or retire codes and our data may lag behind. Use this list as a starting point rather than the last word; the recipient’s bank details are leading. GoldexPay is not a bank and is not affiliated with the banks listed.

Watch out for invoices containing changed bank details. Always verify a change of bank details by phone.

International payments to Israel and the BIC

Israel is outside the SEPA area, so European euro rules do not apply. Payments from abroad usually travel through the SWIFT network.

Not all countries use IBAN numbers; in that case the local account number is used instead. Ask the recipient which details their bank needs for incoming international payments – many banks give clear instructions for this. On the way to Israel, a transfer may go through intermediary banks that take a fee.

The structure of a Israel SWIFT/BIC code

Bank identifier codes use the same format worldwide: 8 characters plus an optional three-character extension. It starts with a four-letter bank code, then a two-letter country code and two characters for the location.

Whatever the bank, all Israel codes have the same country code in positions five and six, namely the ISO code of Israel. Codes with other letters in that position come from another country – a quick way to catch mistakes.

The long version ends in three characters for a branch – XXX stands for the head office. Choose a branch code just if the recipient explicitly gives you one – otherwise stick with the head office.

The largest SWIFT network in Israel: Bank Hapoalim B.m.

Among the 43 institutions we list, Bank Hapoalim B.m. holds the most SWIFT/BIC codes in Israel. The head office of Bank Hapoalim B.m. uses POALILITXXX; that is usually the right code for a transfer.

How many codes a bank has tells you something about how it organises its payments than about its size. Making a payment to Bank Hapoalim B.m.? Use POALILITXXX except when the recipient gives you a branch code.

Tracking a payment to Israel

A SWIFT payment to Israel typically takes anywhere from one to several business days. Payments made after the cut-off time or just before a weekend or public holiday usually start the next business day.

When a payment takes longer than expected, ask the sender to contact their own bank and ask for the status or the UETR; only the sending side can start an official trace. Save the payment confirmation until the recipient confirms – you will need it if something goes wrong.

Receiving money in Israel from abroad

If you are waiting for a payment from another country in Israel, send the payer everything they need in one go. That means: your name as your bank knows it, your IBAN or account number, the SWIFT/BIC code of your bank and, often, your postal address.

Look up the bank in the list above to check its code. Certain banks may also want your bank’s address; it does no harm to include it.

What lands in your account is often lower than the amount sent. Intermediary banks may deduct a fee and your own bank may charge for processing, and when currencies differ, an exchange rate margin applies. Agree with the sender who pays which costs.

Sending money to Israel for less

When you transfer money to Israel with your bank, the stated fee is only part of the cost. Besides a fixed fee, intermediary banks may deduct a charge, and when the money is converted the bank usually uses a rate below the real market rate.

The real cost is often in the rate – the bank builds a margin into its rate. Check the bank’s rate with the mid-market rate, the midpoint you see on financial news sites. The difference is your real cost.

For many routes, a transfer service turns out to be cheaper than a traditional bank transfer, mainly because of the rate. On GoldexPay we compare the amount that arrives in Israel with different services.