Sending money to Israel: the comparison that shows the real cost of every channel
A “no-fee” wire can cost $300 on $10,000. Enter your amount: the comparison applies the current mid-market rate and each channel’s fee schedule to show what actually lands in shekels.
The short version
The cost of a transfer to Israel is the margin on the exchange rate (invisible) plus the fixed fees (visible). Banks take a 2 to 3% margin; online services 0 to 0.6%; a broker 0.2 to 0.5% on large amounts. Simple rule: under $2,000 a month → Revolut on weekdays; $2,000 to $10,000 → Wise; above $10,000 or a property purchase → currency broker. And never let an Israeli bank convert incoming dollars without negotiating first.
The comparison
- Guaranteed mid-market rate
- Fee shown before you send
- Up to $1M per transfer
- A few hours to 1 business day
- 0% margin on weekdays
- Card works in Israel on arrival
- Israel account with local IBAN
- Instant between Revolut accounts, 1–2 days to a bank
- No fixed fee
- Rate lock
- Large amounts accepted
- 1–2 business days
- First-transfer promo
- Express in minutes
- Minutes (express) to 3 days (economy)
- Cash pickup
- No Israeli account needed
- Minutes for cash pickup
- None, unless a lawyer requires it
- 2–5 business days
- Margin negotiable from ₪50,000
- Useful to wait for a better rate
- 1–3 business days after receipt
- Human-negotiated rate
- Limit orders
- Payment direct to the lawyer
- 1–2 business days
Fee schedules checked on 2026-11-03. Orders of magnitude: the exact cost depends on the day, payment method and plan. Buttons marked “partner” are affiliate links: if you open an account, Shekel Guide earns a commission at no cost to you.
Why “our pick”?
For this amount, it is the channel we would use ourselves: the best balance of real cost, speed and simplicity, not only the cheapest to the cent.
Calculation assumptions per channel
- Wise : Mid-market rate shown, fee quoted before you confirm. Multi-currency account with IBAN and card.
- Revolut : Mid-market rate on weekdays up to your plan’s exchange allowance (€1,000/month on Standard, then 1%), weekend markup. Revolut Israel account available.
- Xe : No fixed fee, margin shrinks with size. Rate lock available.
- Remitly : Frequent first-transfer promotion. Higher margin after that.
- Western Union : Handy in a pinch, expensive beyond a few hundred dollars.
- Banque française / américaine (SWIFT) : Rate margin rarely disclosed, issuing fee plus correspondent bank fee.
- Banque israélienne (conversion à l’arrivée) : Send euros or dollars to a foreign-currency account, then convert when the rate suits you. The margin is negotiable from ₪50,000.
- Courtier de change : Human-negotiated rate, limit orders, payment direct to the lawyer or developer. Free for you: we connect you.
How we calculate
Each line starts from the current mid-market rate (the one you see on Google or on our converter) and applies the channel’s schedule: the margin on the rate, fixed fees deducted from the amount sent and, for some services, a disclosed percentage fee. The “real cost” is the difference between what you would have received at the mid-market rate and what you actually receive. It is the only number that lets you compare a “$0 fee” service with a 3% margin against a 0.45% fee at the true rate.
Schedules are checked by hand on the providers’ sites (date under the table); bank margins are observed averages, since banks do not publish them. For a given amount the true price can move by a few dozen dollars depending on the day, the payment method (wire, debit card) and your plan.
The right channel by amount
| Amount | Recommended channel | Real cost | Why |
|---|---|---|---|
| Up to $2,000 a month | Revolut (weekdays) | 0 to 0.5% | Mid-market rate up to the plan allowance ($1,000 on Standard, then 1%), card usable immediately. |
| $2,000 to $10,000 | Wise | 0.4 to 0.6% | Fee quoted before you confirm, true rate, shekel transfer to any Israeli bank. |
| $10,000 to $100,000 | Currency broker or Wise | 0.2 to 0.5% | The broker negotiates and takes limit orders; Wise stays competitive if you want everything online. |
| Over $100,000 (property) | Currency broker | 0.15 to 0.35% | Negotiated rate, payment direct to the lawyer or developer, help with source-of-funds paperwork. |
| Emergency cash | Western Union / MoneyGram | 2 to 4% | Pickup in minutes without an Israeli account. For emergencies only. |
The hidden costs on the Israeli side
The comparison shows what you send. Three more charges appear on the Israeli side, and they depend on how the money arrives:
- Fee for receiving a foreign-currency wire: 0.1 to 0.25% with a ₪20 to ₪60 minimum at most Israeli banks, for a transfer received in dollars or euros. A transfer received in shekels (what Wise or a broker does) costs at most a few shekels.
- Conversion at the branch: if dollars land in an Israeli account, the bank converts at its own rate, 1.5 to 2.5% below mid-market, unless you ask for a foreign-currency account (cheshbon matach) and negotiate each conversion. From ₪50,000 the margin is genuinely negotiable; below that, the answer is no.
- The compliance hold: above a few tens of thousands of shekels, and on any new account, the bank asks for the source of funds (statements, sale contract, inheritance letter). Without documents ready, the funds stay frozen for days; with them, it clears in 24 hours.
The habit that saves the most: have the money converted to shekels before it reaches Israel (Wise, broker), so the Israeli bank never touches foreign currency. It can then neither take a margin nor charge a foreign-currency receiving fee.
Property purchase and aliyah: the large amounts
A property in Israel is paid in shekels, in instalments set by the contract (10 to 15% at signing, then by construction stage or at key handover), often into the lawyer’s escrow account. Three things change everything at that scale:
- The rate is negotiable. On $500,000, half a point of margin is $2,500. A currency broker works at 0.15 to 0.35% and lets you place a limit order: the conversion triggers if the dollar reaches the level you set.
- Timing matters as much as the rate. Converting the whole deposit at once is a bet; splitting into two or three conversions smooths the risk. If you finance with a mortgage (mashkanta), the broker times conversions to the bank’s drawdowns.
- Paperwork is prepared in advance. Source of funds, the buyer’s declaration on foreign accounts and, for an oleh who arrived from 2026, the annual report of foreign assets. The US–Israel tax guide covers what has to be reported on each side.
Six common mistakes
- Comparing fixed fees and ignoring the rate margin. “$0 fee” with a 3% margin costs ten times more than “$4.50 fee” at the true rate.
- Sending dollars to a shekel account in Israel. The bank converts at its rate, without asking you.
- Converting at the weekend on Revolut. Markets are closed; a markup applies from Friday evening to Sunday evening.
- Exceeding the plan’s exchange allowance without noticing. Above it, 1% is added on Revolut Standard; for a large amount, switch to Wise or a broker.
- Sending a large amount without the documents. The funds get frozen, sometimes the day before a signing.
- Forgetting to report foreign accounts. For Americans, Wise and Revolut balances count toward the FBAR threshold; on the Israeli side, an oleh who arrived from 2026 reports foreign assets every year.
Frequently asked questions
What is the cheapest way to send money to Israel?
Below $10,000, an online service at the mid-market rate (Wise, or Revolut on weekdays within your plan allowance) costs 0 to 0.6% all in. Above $10,000, a currency broker usually negotiates better, around 0.2 to 0.5%, and handles the wire to the lawyer or developer. A regular bank costs 2 to 3%.
How much does my bank charge to wire $10,000 to Israel?
Typically $230 to $350: a 2 to 3% margin on the exchange rate (rarely disclosed) plus a $25 to $50 outgoing wire fee, often with a correspondent-bank fee and an Israeli receiving fee on top. The same transfer costs $45 to $65 with Wise.
Should I convert in the US or in Israel?
Neither, at a bank: both take a margin. If you must go through an Israeli bank, send dollars to a foreign-currency account (cheshbon matach) and convert later, negotiating the margin at the branch or waiting for a better rate. Otherwise convert with an online service and send shekels directly.
Can I receive a Wise or Revolut transfer in an Israeli bank account?
Yes. Wise sends shekels to any Israeli account (bank number, branch number and account number, or the Israeli IBAN). Revolut has offered a full Israeli account with a local IBAN since 2025. Israeli banks sometimes charge a few shekels to receive a shekel transfer, and considerably more for a foreign-currency transfer.
Is there a limit on online transfers?
Wise accepts up to about $1 million per transfer with supporting documents. Revolut is designed for everyday amounts; above your plan’s exchange allowance, 1% is added. For a property purchase, a broker handles the large amounts, together with the source-of-funds documents the Israeli bank will require anyway.
Will the Israeli bank ask where the money comes from?
Yes, systematically above a few tens of thousands of shekels, and from the first transfer on a new account: statements from the source account, a sale contract, an inheritance letter or payslips. Prepare the documents before sending, or the funds sit frozen for days.
Do I have to report a transfer to Israel?
Moving your own money is not income and is not taxed. But a transfer into an Israeli account from abroad is reported by the bank above certain thresholds, and an oleh who arrived from 2026 must report foreign assets every year. On the US side, Wise and Revolut balances count toward the $10,000 FBAR threshold like any other foreign account.
Convert now or wait?
Nobody predicts the shekel. For a large sum due on a known date (property deposit), split it into two or three conversions and, with a broker, place a limit order at the level you are comfortable with. Our converter shows ten years of history to put today’s rate in context.
How we work
Every figure on this page is checked against the official source listed at the bottom and dated. When a schedule changes, the page is updated within days of the official publication. Our methodology.
Sources
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