- Get the best foreign exchange rates available from this online marketplace
- Fast 1-2 day delivery to bank accounts
- Price-match guarantee if you find a better price elsewhere
Compare transfer speed, fees, rates and more in our tables to see which provider is best for your money transfer needs. If you want to send money to Israel just type in how much and the table will show you the most suitable services.
International money transfers let you send money to Israel by providing money to a bank or independent money transfer company, which then converts your pound sterling to Israeli shekels. This can be done in person, over the phone, through a mobile app or online, and you can use cash, a credit card or transfer funds from your bank account. Depending on the provider, your recipient can either pick up the cash in person or have it deposited into their bank account.
Most major UK banks will let you send money to Israel, but that doesn’t mean it’s cheap. You’ll generally be charged higher fees and be offered a lower exchange rate when you opt for a bank transfer.
Often, you can get a better deal if you use the services of a specialist money transfer company. Instead of offering a wide range of financial products and services as banks do, money transfer companies focus entirely on moving money internationally. They offer lower fees and better exchange rates than banks, and many allow the transactions to be quickly and conveniently made online.
To get an idea of costs, let’s compare numerous transfer options and associated fees to send money to Israel. This table uses real fees and exchange rates and is current as of 13 April 2020.
|Bank transfer||Cash transfer||Money transfer service|
|Fee||£25 + additional correspondent bank fees||£1.90||£0|
|Exchange rate||1 GBP = 4.29 ILS||1 GBP = 4.37 ILS||1 GBP = 4.44 ILS|
|Transfer speed||2-4 days||Minutes||Same day|
|Amount received||ILS 21,450||ILS 21,899||ILS 22,228|
The bank option is the slowest and most expensive way to send money to Israel. If speed is crucial, the cash transfer combines value with nearly instant turnaround. If you decide to go with a money transfer service, your recipient ends up with 778 more shekels and it gets there faster than a bank transfer.
An exchange rate is used to determine how much a currency is worth when converted into a different currency. Most currencies are flexible, so they won’t be worth the same amount day to day or month to month. If you want the best deal to send money to Israel, you’ll need to keep an eye out for a strong rate.
As you can see, there is no shortage of choices when it comes to finding the best way to send money to Israel. While the exact transfer method will differ depending on the provider you choose, these are the basic steps you’ll need to follow:
Emergency transfers to Israel are possible, and because the Israeli shekel is so widely traded, you may even be able to send money to your recipient within a few hours without having to pay high fees. However, you’ll still want to be careful. Not every company offers quick speed, low fees and strong exchange rates. Compare your options before committing to be sure you’re choosing the right provider for your needs.
Exercise a high degree of caution when picking up cash, no matter where in Israel you are. Be sure to:
Israel’s currency is widely traded, so you’ll have access to plenty of options with low fees and competitive exchange rates if you plan to send money to Israel. This means you’ll have to take extra care to be sure you’re going with a provider that really caters to your needs. Read our guide to money transfers to get an idea of the general process before you send your next remittance.Back to top
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