Israel: SWIFT/BIC Codes & Payment Info

Remitter should obtain all required bank information from the Beneficiary (e.g. SWIFT BIC, IBAN, and beneficiary bank address).

Payment Restrictions: Thresholds exist for central bank reporting by financial institutions.

Account Restrictions: Non-residents can hold ILS and foreign currency accounts. Account opening procedures require formal documentation.

Payment Formatting Rules for ILS:

• Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and address of the ordering customer. Use of initials can delay receipt of funds by the beneficiary.
• Beneficiary Customer (SWIFT MT103 F59): Include account number (IBAN), full name (no initials), and address of the beneficiary customer. Use of initials may delay receipt of funds by the beneficiary. IBAN numbers for beneficiaries with accounts in Israel must be included in the payment instructions.
• Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier/code (where required), full name of bank branch, and address of the beneficiary bank. The beneficiary bank’s SWIFT BIC must be in field A on the SWIFT message to avoid delays or returns. SWIFT BIC is 8 or 11 alphanumeric characters: xxxxILxx or xxxxILxxxxx.