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Israel’s currency is New Israel Shekel (NIS) or shekel. While traveling in Israel one can access large amount of money – local or foreign. The money can be brought into the country as cash, credit cards or State of Israel bonds. For the benefit of the international travelers, foreign currency can be exchanged at the International airport, banks, post offices, or licensed exchange agencies in most of the cities in the country. The travelers need to provide a passport for identity while exchanging travelers’ checks at the counters. The rates of vary from city to city. But it is advisable to carry an amount of US dollars since certain tourist sites in the Old City of Jerusalem, take payment in dollars.
If the travelers require cash withdrawal, then they can withdraw the currency of Israel or foreign currency at the local banks. Most of the banks in Israel such as Jerusalem and Tel Aviv accept international credit cards. The Banks also provide Automated Teller Machines at the main gateway for the benefit of their customers. While traveling throughout the country, the international tourists can purchase items across the country through foreign currencies. Few of the foreign currencies accepted in the country of Israel is: Euro, Australian Dollar, US Dollar, Hong Kong Dollar, New Zealand Dollar, Singapore Dollar, Canadian Dollar, Japanese Yen, Danish Krone, Norwegian Krone, Swedish Krona, Pound Sterling, Swiss Franc, South African Rand. One of the advantages of paying in foreign currency is that the travelers are exempted from paying VAT. The state of Israel has a large number of banks across the major cities of the country.
Most banks are open from 8:30am until 12 noon. Most of banks in Israel are closed on Shabbat – the holy day of the Muslims. For the convenience of the international and domestic tourist, most of the hotels in Israel have banking facility within its premises. Tourists can also buy Bonds of State of Israel. The travelers may also redeem the bonds at any of the bank branches prior to their date of maturity. One can also open Bank Accounts in the major branches across the country. The international travelers can open local currency accounts or special non-resident and foreign resident accounts at any bank or main branches of the Bank of Israel.
If one has exchanged their foreign currency while leaving the country one can get remaining the shekels converted back to foreign currency at the Ben Gurion Airport banks.
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