Monday, February 2, 2015

New Bank Fee regulations

Good news!

Banks have to stop charging certain fees!

I know you all hate bank fees as much as I do, so I'm sure this will make you happy.

First change: from now on, banks are no longer allowed to charge a transaction fee for purchases you make with your debit card (my bank doesn't do that, but I'm guessing some of you use banks that do).

Second change: If you need an "ishur" that you have an account at the bank, one will be provided free of charge (but if you need more than one in a calendar year, your bank can charge for the second, third, etc).

Third change: Money transfer fees will be capped at the rate of a teller-assisted banking transaction.

Fourth change: The 2 shekel/monthly fee for housing loans is cancelled.

Fifth change: the fee for paying in "tashlumim" (installments) - 50 agurot per installment - will not be charged for any new charges made in tashlumim.

These new regulations should save us all a little bit of pocket change.


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