Make Payments and Receive Payments in ILS - Israeli Shekel
Pay in Israeli Shekels (ILS)
Mondial Change allows you to make international payments in ILS (Israeli Shekel) with ease. Manage your Israeli Shekel beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your ILS operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your customer rate is always transparently communicated before the validation of each of your transactions.
Receive Payments in Israeli Shekel (ILS)
Mondial Change allows you to receive payments in ILS (Israeli Shekel). Payments in ILS are received in an account in your name with a dedicated IBAN. This ILS account with a nominative IBAN is provided to you free of charge. It allows you to receive payments in ILS from your clients or subsidiaries and also to hold Israeli Shekels. The ILS can be reused to make payments in ILS. The ILS can also be converted into EUR or any other currency of your choice and repatriated to your bank account. The Israeli Shekel (ILS) account can be located in France or other countries (see possible locations).
Do you want to hedge your exchange risk on the Israeli Shekel (ILS)? Check our dedicated page for ILS exchange hedges.
Mondial Change Answers All Your Questions About Payments in Israeli Shekels (ILS)
What is the timeframe for an ILS payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for an Israeli Shekel transfer to be credited to the beneficiary's account. However, please note that these timeframes are not contractual, and our partners responsible for the execution and routing of payments cannot be held liable if ILS payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a payment in Israeli Shekel (ILS)?
The fees applied to transfers in Israeli Shekel (ILS) generally range from 0 to 10 euros depending on the agreement with Mondial Change's trading room. The rate primarily depends on your annual ILS exchange volume and the number of Israeli Shekel payments made during the year.
Are there minimum or maximum amounts for payments in Israeli Shekel (ILS)?
Mondial Change and its partners verify that your Israeli Shekel flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If there are restrictions on transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Israeli Shekel (ILS)?
For ILS payments via the SWIFT network, the following information must be provided:
• Full name of the beneficiary
• IBAN
Is it possible to modify a payment in Israeli Shekel (ILS) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Israeli Shekel (ILS) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment has not been executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
Is the Israeli Shekel (ILS) account provided to you a bank account and is it nominative?
The Israeli Shekel (ILS) account for which we provide you the details is not a bank account per se because the account-holding institution is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN attached to the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening an Israeli Shekel (ILS) account for more information.
Is it possible to hold Israeli Shekels (ILS) in the ILS account provided to you?
You can use this Israeli Shekel (ILS) account to receive or store Israeli Shekels. The funds can then be reused to issue payments in Israeli Shekel or be converted into other currencies. The account is also compatible for receiving ILS payments from e-commerce platforms like Amazon or payment systems like Adyen or Stripe.
What are the holidays when payments in Israeli Shekel (ILS) cannot be executed?
Variable date (March/April): Purim
Variable date (March/April): Passover – 1st day (Jewish Passover)
Variable date (March/April): Passover – 7th day
Variable date (April/May): Yom Ha'atzmaut (Independence Day)
Variable date (May/June): Shavuot (Jewish Pentecost)
Variable date (September/October): Rosh Hashanah – 1st day (Jewish New Year)
Variable date (September/October): Rosh Hashanah – 2nd day
Variable date (September/October): Yom Kippur (Day of Atonement)
Variable date (September/October): Sukkot – 1st day
Variable date (September/October): Shemini Atzeret / Simchat Torah
History of the Israeli Shekel
The Israeli Shekel (ILS) is the official currency of Israel, a country located in the Middle East. The Shekel has been used since 1985, replacing the former Israeli currency, the old Shekel. The term "Shekel" originates from an ancient unit of weight used in the region. Since its introduction, the Israeli Shekel has become a symbol of Israel's dynamic economy and financial stability. It is issued by the Bank of Israel, which is responsible for the country's monetary policy. The Israeli Shekel is widely accepted and used throughout the country for daily transactions, commercial exchanges, and tourism.
Monetary Policy of the Israeli Shekel
The monetary policy of the Israeli Shekel (ILS) is managed by the Bank of Israel, which is the country's monetary authority. The main objective of the Bank of Israel is to maintain price stability while promoting economic growth and employment. To achieve these objectives, the Bank of Israel uses several monetary policy tools. One of the main tools is the interest rate, which is adjusted based on economic conditions, inflation, and the central bank's objectives. The Bank of Israel also intervenes in the foreign exchange market to influence the Shekel's exchange rate against other currencies. It can buy or sell Shekels in the market to maintain currency stability.
Characteristics of the Israeli Shekel
The Israeli Shekel (ILS) has certain characteristics that distinguish it from other currencies. Firstly, the Shekel is the only legal tender in Israel, meaning it is used exclusively in the country. It is divided into sub-units called agorot, although their practical use has become less common over time. The banknotes of the Shekel are issued in different denominations, ranging from 20 ILS to 200 NIS, while coins are available in 10 agorot, 1 Shekel, and 2 Shekels. An interesting characteristic of the Israeli Shekel is its connection to Israel's history and culture. The Shekel is an ancient unit of weight mentioned in the Bible and has been used as currency in the region at different times. The Israeli Shekel is also known for its stability, with a prudent monetary policy aimed at keeping inflation under control.