How to Transfer Money to Israel

••• money money image by Valentin Mosichev from Fotolia.com

Money can be sent to Israel using one of several Internet services or through a bank. Some companies require few details to be exchanged, making them suitable for casual transactions, while transfers through a bank require detailed financial information, making the service suitable only for people who know each other well. The time it takes for money to reach Israel will vary depending on the service.

Sending Money to Israel

Sign up for a PayPal account. PayPal allows money to be sent internationally without an exchange of bank details. This is useful if you are not entirely familiar with the person receiving the money. The person in Israel must also have a PayPal account so \money can be sent and then withdrawn to an Israeli bank account.

Send the money using a secure electronic money transfer using a company such as Western Union, MoneyGram or iKobo. Western Union and Moneygram require the recipient to visit an agent in Israel to collect the money. IKobo sends a credit card loaded with the value of the transfer in the recipient's name to the recipient's address.

Speak with a bank manager about arranging an international money transfer. Banks usually charge a fee as well as requiring detailed information about the recipient's bank, including SWIFT (Society for Worldwide Interbank Financial Telecommunication) and IBAN (International Bank Account Number) numbers.

Warnings

  • Always keep detailed records of any financial exchange in case money is lost in transfer. Ask for receipts from the bank or print your own records from money transfer websites.

References

Photo Credits

  • money money image by Valentin Mosichev from Fotolia.com