Sending business payments from the US to Israel
A US company pays an Israeli supplier, contractor or subsidiary by SWIFT wire to the IBAN of its account at an Israeli bank, in US dollars to a foreign currency account or in shekels. The Bank of Israel states that foreign currency control was gradually repealed and that no control restrictions exist today, so the choice of currency is commercial. This guide covers the details to collect, the rules, bank hours, timing, documents and fees.
- The Bank of Israel states that foreign currency control was gradually repealed and that no control restrictions exist today.
- The shekel floats; the Bank of Israel publishes a representative exchange rate each business day but reserves the right to intervene in foreign currency trading.
- A report on the nature of certain transactions with nonresidents is still required so capital flows can be analyzed, according to the US Country Commercial Guide.
- Discount Bank's foreign trade unit works Monday to Thursday from 8:00 a.m. to 4:00 p.m. and Sunday and Friday from 8:00 a.m. to 2:00 p.m., so Israeli and US banking weeks overlap only Monday to Friday.
- Israeli law limits cash payments between businesses to NIS 6,000, so business payments run through bank transfers.
Details to collect from your recipient in Israel
Israeli bank accounts have an IBAN, the International Bank Account Number, and the bank has a SWIFT code for payments from abroad. Many Israeli companies hold a shekel account for payroll and local costs and a foreign currency account for dollars. Ask for the IBAN of the account that matches the invoice currency.
| Detail | What to ask for | Why it matters |
|---|---|---|
| Beneficiary name | The company's registered name, exactly as on the account | Name mismatches lead to queries |
| IBAN | The IBAN of the dollar account for a dollar invoice, or of the shekel account | A dollar wire to a shekel account is converted by the bank |
| Bank name, branch and SWIFT code | 8 or 11 characters | Routes the wire |
| Intermediary bank | The US correspondent the bank names, if any | Most US banks have correspondent relationships with Israel's leading banks |
| Reference | Invoice or contract number | Supports the bank's record of transactions with nonresidents |
Sources: International Trade Administration, Israel Country Commercial Guide; field list compiled by the Helm Editorial Team. As published on 29 October 2026.
USD or shekels: what Israel's rules say
Israel has a modern banking system and no exchange controls. The US Country Commercial Guide counts five major domestic commercial banks and five foreign banks with commercial activities in Israel, and states that Israeli individuals and companies may manage bank accounts abroad in shekels or foreign currency. The US dollar to shekel page covers the currency.
| Rule | What it says | What it means for your payment |
|---|---|---|
| Foreign currency control | Gradually repealed; no control restrictions today | You may pay in dollars or shekels |
| Exchange rate | The shekel floats; the Bank of Israel can intervene when necessary | A shekel invoice carries currency risk for you |
| Representative rate | Published each foreign currency business day, based on the market rate, with no obligatory status under law | A reference to check a provider's quote |
| Reporting | A report on the nature of certain transactions with nonresidents is still required | Quote a clear purpose so the recipient can report it |
| Cash | Limited to NIS 6,000 between businesses | Pay by bank transfer |
Sources: Bank of Israel, Exchange Rates; International Trade Administration, Israel Country Commercial Guide, Trade Financing (last published 24 April 2026). As published on 29 October 2026.
Because the shekel floats, an Israeli company with dollar revenue and shekel salaries carries currency risk, and many prefer to receive dollars and convert on their own schedule. Agree the currency in the contract. For the recipient's account options, see USD business accounts in Israel.
Rails, bank hours and arrival times to Israel
A payment from a US account reaches an Israeli bank by SWIFT, often through the bank's US correspondent. The dollars settle in the United States on Fedwire, open from 9:00 p.m. ET the evening before to 7:00 p.m. ET each weekday, with customer transfers accepted until 6:45 p.m. ET. Tel Aviv is usually 7 hours ahead of New York, and Israeli banks work a different week from US banks.
| Route | What the recipient receives | Timing, as published | Notes |
|---|---|---|---|
| SWIFT wire in USD to a foreign currency account | US dollars | Swift reported in August 2023 that 89% of payments on its network reached the recipient's bank within an hour; crediting follows on an Israeli business day | Standard route for dollar invoices |
| SWIFT wire to a shekel account | Shekels, converted by the bank | Credited on an Israeli business day | Compare the rate with the representative rate |
| Discount Bank foreign trade unit | Execution of foreign trade orders | Monday to Thursday 8:00 a.m. to 4:00 p.m.; Sunday and Friday 8:00 a.m. to 2:00 p.m. | Orders in the last two hours, or on non-business days, move to the next business day |
Sources: Discount Bank, foreign trade and foreign currency; Federal Reserve Financial Services, Fedwire operating hours; Swift, 22 August 2023. As published on 29 October 2026.
Because Israeli banks open on Sunday and close early on Friday, while Fedwire settles Monday to Friday, a dollar wire sent on a US Friday afternoon is usually credited on Monday in Israel. Citi notes that international wires may take up to 5 business days.
Documents, screening and why payments to Israel are held
Israeli banks record the nature of transactions with nonresidents, so a payment with a clear purpose and invoice number is credited with fewer questions. For a contractor or a subsidiary, keep the services agreement or intercompany agreement on file. Large or first payments from a new payer may prompt the recipient's bank to ask about the relationship.
One more check sits on your side: OFAC states that all US persons, including US-incorporated companies and their foreign branches, must comply with its sanctions, so screen the recipient, its owners and its bank against OFAC's lists before the first payment (OFAC FAQ 11).
| Problem | What happens | How to prevent it |
|---|---|---|
| Dollars sent to the shekel account | Converted at the bank's rate | Ask for the IBAN of the dollar account |
| Sent on a US Friday afternoon | Usually credited on Monday | Send earlier in the US week |
| Purpose unclear | The bank asks the recipient before crediting | State the goods or service and the invoice number |
| Name differs from the account | Queried or returned | Copy the name from the bank details |
| Wire sent as SHA | Arrives short of the invoice | Use OUR when the full amount must arrive |
Sources: Discount Bank; International Trade Administration; Helm Editorial Team. As published on 29 October 2026.
Costs: SHA, OUR and Helm's fees for payments to Israel
A wire to Israel can carry your provider's fee, intermediary deductions and the Israeli bank's charge for crediting it; Discount Bank's foreign trade page does not publish fees, so ask the recipient what its bank charges. Under SHA those fees reduce what arrives; under OUR you pay them. Our guide to OUR, SHA and BEN charges compares what banks publish.
Helm, a financial technology company and not a bank, sends international supplier payments from your company's account by SWIFT and by local rails in the recipient's currency where available, confirmed by your account manager. The rate, fee and expected arrival are shown before you confirm. Helm's US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with funds held at Lead Bank.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
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Open accountQuestions
How do I send a business payment from the US to Israel?
Send a SWIFT wire to the IBAN of the recipient's account at its Israeli bank, in dollars to a foreign currency account or in shekels, with the bank's SWIFT code and the invoice number.
Does Israel have exchange controls?
No. The Bank of Israel states that foreign currency control was gradually repealed and that no control restrictions exist today. A report on the nature of certain transactions with nonresidents is still required.
Should I pay an Israeli supplier in dollars or shekels?
Pay the currency on the invoice. The shekel floats, so a shekel invoice puts the exchange rate risk on you, while a dollar invoice leaves the conversion to the recipient.
Are Israeli banks open on Sunday?
Many are. Discount Bank's foreign trade unit, for example, works Sunday and Friday from 8:00 a.m. to 2:00 p.m. and Monday to Thursday from 8:00 a.m. to 4:00 p.m. Fedwire settles dollars only Monday to Friday.
How long does a wire from the US to Israel take?
The dollars settle in the US on Fedwire and are credited on an Israeli business day. A wire sent on a US Friday afternoon is usually credited on Monday, and Citi notes that international wires may take up to 5 business days.
What does Helm charge to send money to Israel?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
References
- Bank of Israel: Exchange Rates
- International Trade Administration: Israel Country Commercial Guide, Trade Financing
- Discount Bank: Foreign trade and foreign currency
- Federal Reserve Financial Services: Fedwire Funds Service operating hours
- Swift: Cross-border payments on Swift exceed the G20's processing speed target (22 August 2023)
- Citi: How long does a wire transfer take?
- Office of Foreign Assets Control: FAQ 11, Who must comply with OFAC sanctions?
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.