THE BANK FEES REFORM

Guide: How can the reform help you?

The bank fees reform, which went into effect on July 1, 2008, enables customers to obtain all
the relevant information regarding the fees charged by the banks, to compare them, and to
decide which bank should handle one's account.

In the wake of the reform, customers will know the cost of the bank service they wish to
obtain, will be able to compare the prices offered by the banks or other bodies providing the
same service and between the prices of alternative services, and decide how to act. Thus, for
example, customers can request better conditions from the bank that handles their account, or
if necessary, even transfer their account to another bank.

The reform will help customers to become wiser consumers of banking services. Informed
consumption in the area of banking, as in other areas, will help to promote competition and
improve the conditions offered to customers.

This guide provides information on the following subjects:

• What is particularly important to know and to compare?

• How can I examine the activity in my account?

• How can customers unable to perform their current-account activities using the direct
channels avoid paying fees?

• Recommended examinations that you should carry out on your current account.

• Recommended examinations that you should carry out regarding your credit card.

• Recommended examinations that you should carry out when you take a mortgage loan.

• The recommended order of actions in order to achieve the maximum benefit from the
reform.
What is particularly important to know and to compare?

Every customer should compare prices of the services the banks charge him for his current
account (especially regular operations in the account), the cost of holding a credit card, the
cost of credit (particularly interest) etc.

The reform will lead to three major changes that will make it easier to compare banks:

• The number of fees for consumer services was reduced by about two-thirds as a result
of unifying and canceling fees.

• Henceforth, identical services will be given the same name in all the banks.

• The standard fees (current account, mortgages and credit cards) will be available in a
format that makes it easier for customers to check and compare them.

How can I examine the activity in my account?

Customers are able to examine the nature of their banking operations (and especially their
current-account transactions) by checking printouts of their account several months
retroactively. Customers will also be able to study printouts for previous periods (which are
also sent to them by regular mail) on the Internet and by means of ATMs that the bank will
place at their disposal.

How can customers unable to perform their current-account activities using the direct
channels avoid paying fees?

According to the reform, consumers who do not hold means to perform their current-account
activities using direct channels, elderly people and disable customers who due to their
disability cannot handle one or more direct channels are able to execute 4 monthly over-
the-counter transaction at the price of direct channel transactions. Make sure to demand
such a discount if you are entitled to it and return your means of performing direct activities
if they are unused.

Recommended examinations that you should carry out on your current account

Pay particular attention to the following current-account services:

 • Current operations—both in the direct channels and the current operations carried
out by a teller.

• Cost of credit facilities—interest or a fee for granting credit facilities.

• Cost of credit card—credit-card fee.

You can find comparisons of fees in these areas, as well as calculators for comparing costs or
forms for carrying out an independent comparison, on the Bank of Israel website:
www.bankisrael.gov.il

Recommended examinations that you should carry out regarding your credit card

Pay particular attention to the following services connected to your credit card:

• Credit-card fee - In the wake of the reform, a single monthly fee is now paid for
credit cards - the credit-card fee. You should compare the fee for the credit card
offered by the bank with the fee offered by the credit-card companies for the cards
they issue directly. Customers are not obliged to hold credit cards issued by their bank,
but can directly contact any credit-card company they choose. Check whether any
discounts are given on these fees and based on what criteria.

• Deferred-payment fee - for customers who regularly conduct transactions by means

of installments.

Recommended examinations that you should carry out when you take a mortgage loan

When you take out a mortgage loan, pay particular attention to the rate of interest. Make
sure to compare the rates of interest for the loan offered by different banks.

The recommended order of actions in order to achieve the maximum benefit from the reform

1. What are the most frequent actions you undertake? Examine this on the printouts you
receive from the bank, and identify the types of transactions you undertake and their
prices. The comparison form is useful in this respect. To download the form:
www.bankisrael.gov.il
2. Negotiate with the bank and demand better conditions.

3. Examine the prices of these operations in other banks, and assess whether it is
worthwhile transferring your account to a bank that offers better conditions. As part of
the comparison, you should also take into account the rate of interest the bank charges for
credit facilities on your current account.

4. You can obtain an information sheet from the bank that summarizes all your assets in and
liabilities to the bank. This sheet is given free of charge twice a year to a customer who
is considering transferring his account to another bank.
 BANK FEES REFORM
Questions and Answers

On July 1, 2008 a comprehensive reform of bank fees came into effect, which will result in a
considerable decrease in the number of fees the banks will be entitled to charge their
customers for various banking operations. We have assembled the major questions and
answers that emerge from the new reform.

1. What is the bank fees reform?

As part of the new reform, the Supervisor of Banks has formulated a uniform and mandatory
list of banking services for which the banking corporations are entitled to charge fees. The
long list of banking services and the fees charged for them was examined in detail, which
resulted in a new, smaller and far more transparent list.

2. What is the legal background to the reform?

The recommendations formulated by the Supervisor of Banks in the Bank of Israel for
promoting competition in the banking system and for granting various powers for supervising
the prices of banking services, were adopted by a parliamentary investigation committee that
examined the issue in the first half of 2007. In the wake of the recommendations, the Banking
Law (Customer Service) (Amendment 12), 2007 was passed, which grants powers to the
Bank of Israel and the Supervisor of Banks to consider the fees charged by banking
corporations. Based on the power granted by the law, a complete price list was drawn up,
called the Banking Rules (Customer Service) (Fees), 2008, consisting of a uniform list of
services for which the banking corporations are entitled to charge fees, as well as a basic
price list of fees covering three major areas of consumer interest—current accounts,
mortgages, and credit cards. In addition, rules were determined as to how the bank would
inform customers about the fees and the price lists.
3. What are the powers the law gives to the Bank of Israel and the Supervisor of Banks
as part of the reform?

The major power is to determine a uniform and intelligible list of banking services for
which the banking corporations are entitled to charge fees. The Supervisor of Banks is
authorized to substantially reduce the number of fees. Furthermore, the Bank of Israel has the
authority to intervene in the prices of banking services (on the grounds determined in the
law), as well as to publish comparative data in order to encourage competition in the banking
system.

4. When will the reform take effect?

The reform has been in force since July 1, 2008.

5. What is the aim of the reform?

The reform aims to promote competition in the banking system by increasing transparency in
the charging of fees. The assumption is that allowing customers to know how much they are
paying for banking services and enabling them to compare the prices offered, will encourage
them to negotiate for improving the conditions, and, if necessary, to move their account to the
bank that offers them the best conditions. Intensifying competition will lead later in the
process to improving the conditions offered to customers.

6. What are the major changes that will take place in the wake of the reform?

The reform will bring about four major changes:

• The number of fees for consumer services will be reduced by about two-thirds as a result
of unifying and canceling fees.

• Henceforth, identical services will be called by the same name in all the banks.

• The method of calculating the fees will be identical in all the banks.

• Price lists for the standard fees (current account, mortgages and credit cards) will be
available in a format that makes it easier for customers to check and compare them.
7. What will be the major changes in the current account?

Prior to the reform the current account included 15 regular operations, for each of which a
different fee was charged. After the reform only 2 fees will appear in the price lists for all
current operations—a fee for operations in the direct channel (current account operations
executed independently by the customer by means of the Internet, computerized answering
service or ATMs) and a fee for operation by means of a teller.

Note that operations such as making a deposit in an account or withdrawing money from the
account, receipt and repayment of a loan, buying and selling securities - are not regarded as
fees for operation by means of a teller, even if they are executed at a branch.

In the wake of the reform, only two types of operation will appear in the current-account
printout: operation in the direct channel and operation by means of a teller, and the two
different fees that will be charged for these operations. Customers whose accounts are fairly
inactive are likely to find themselves paying the minimum administrative fee that the bank
determines in the price list.

8. What are the major changes in credit facilities?

Prior to the reform two fees were charged for credit facilities (in addition to interest)—a fee
for compiling documents and a fee for credit allocation. As part of the reform, the fee for
compiling documents will be cancelled, while only customers who did not make use of
their credit facilities will be charged the credit allocation fee.

9. What are the major changes regarding loans?

Prior to the reform two fees were charged for loans (in addition to the interest-rate of the
loan) - a fee for compiling the credit documents and a loan collection fee. In the wake of the
reform, the fee for compiling the loan documents (excluding housing loans) will be
cancelled up to the sum of NIS 50,000, and the loan collection fee will be cancelled.
10. What are the major changes regarding credit cards?

Prior to the reform, the cost of holding a credit card was covered by 3 fees - a monthly
management fee, an annual fee for limitation of responsibility and an annual membership fee.
In the wake of the reform, the credit-card companies will charge a single management
fee, knows as a "monthly card fee." The fee will be collected monthly. Discounts and
exemptions from payment of the fee will be given by the credit-card companies on a monthly
basis, according to the criteria they have determined.

11. Will the fees be cheaper as a result of the reform?

Even though the aim of reducing the number of fees was not, in itself, to lower the prices of
banking services, the banks already expect losses in income from fees of millions of shekels
as a result of the reform. These losses imply a saving for the customers. Furthermore, in the
longer term, the increased awareness of the prices of banking services, in conjunction with
consumers' willingness to compare and negotiate with the banks about the conditions they
will receive, could lead to a reduction in prices of these services for private customers and
small businesses.

12. To which customers does the reform apply?

The reform applies to any customer who is regarded as an "individual customer", as well as
to corporations defined as "small businesses".

Individual customer:

An individual customer is any private customer, as opposed to a corporation (even if the

customer is a licensed dealer).

Small business:

A "small business" is one of the following:

1. Representatives of a jointly-owned residential building.

2. A corporation that has been in existence for less than a year.

3. A corporation that has submitted an annual report to the bank, according to which its
business turnover in the year prior to submitting the report does not exceed one
 million NIS for the period of one year commencing from the month following the date
on which it submitted the above report.

Excluded from this category are a corporation established by law, and a company all of
whose shareholders are corporations that are not a "small business".

13. What is the complete price list of fees?

The complete price list is a uniform and intelligible list of the services for which the banks
are entitled to charge fees as determined in The Banking Rules (Customer Service) (Fees),
2008. The complete price list of fees applies to any "individual" customer and to any
corporation that is a "small business" whose scale of business does not exceed one million
NIS a year. The banks must ensure that the complete price list is available for customers to
study in their branches and on their website.

14. What are basic price lists?

Banks offer many services. Most customers, however, use only a limited number of regular
bank services. These limited services have been assembled in basic price lists dealing with
three major subjects: current accounts, mortgages, and credit cards. The basic price lists are
derived from the complete price list of fees.

The basic price lists are available to customers at all the branches of a bank, on the bank's
website, and from ATMs that the bank places at its customers' disposal. The customer can
receive the basic price list from the banking corporation at the time of obtaining that
particular service.

15. In the wake of the reform, have the banks canceled the benefits they offer to
customers?

Some banks have informed the Supervisor of Banks that in general they will continue to grant
benefits and discounts on fees to various customers and population groups such as soldiers
and students, and will continue to honor specific agreements signed with their customers
prior to the reform regarding discounts on fees.
16. Have any fees remained under price control?
The following fees have remained under price control even after the reform?
Name of Fee
Price of a regular check book
Information card
Administrative fee for a
housing loan
Agreement to create a lien
with another bank (including
an equal lien)
Transferring securities to the
same customer's deposit
account in another bank
(including the customer's joint
account with his or her
spouse)
Transferring foreign currency
in Israel to the same
customer's account
Comments / Fee
This refers to the regular, familiar check book. The price of each
check is limited to NIS 0.36.
This fee is charged when the customer receives from the bank, at his
request, a card used only to extract information. This fee is limited to
NIS 8 a year.
This is a fee charged to borrowers who took a loan from the bank for
purchasing a home. The fee is charged each month in conjunction
with the current monthly payment for repaying the loan. This fee is
limited to NIS 2 for each current payment for each home-purchasing
loan.
This is a fee that the bank charges when a customer who has
borrowed money from the bank against a lien on the asset, requests
that the bank agree to another bank placing a lien on the same asset.
The need for a lien with another bank arises, generally, when the
customer is interested in taking out a further loan from another bank
by having a lien placed on the asset, or when the customer is
interested in replacing the loan he took from the bank with a cheaper
loan from another bank. The fee is NIS 150.
These are cases in which the customer requests the transfer of
securities from an account in one bank to an account in another bank.
These cases also include transferring securities from an account
registered in the name of a customer to a joint account in which the
customer is only one of the partners. The maximum fee that can be
charged for the service is NIS 5, plus the reimbursement of expenses
incurred by the banking corporation toward a third party (e.g. the
stock exchange or an overseas broker) for executing the service.
This fee is charged for a bank transfer of foreign currency from the
customer's account in one bank to his account in another bank.
 BANK FEES REFORM
TEN SUGGESTIONS FOR REDUCING FEES

1. Check the nature of the activities in your current account. You can obtain a record
from the bank of your assets and liabilities, twice a year, free of charge, to enable you to
check the profitability of transferring your account to another bank.

2. Compare the conditions offered you by the bank that handles your account and by
other banks.

• Demand to receive the benefits and discounts you are entitled to by virtue of
belonging to a sector or population group that receives benefits from the bank.

• Negotiate over the conditions of administering your account, and request discounts
and benefits for fees and interest payments.

• Examine the profitability of transferring your activity (partly or fully) to another

bank. Remember, the cost of closing an account and moving to another bank is
limited to a ceiling of NIS 40 for an account and an additional NIS 40 for your credit
card, (and any third-party payments there might be).

3. Perform your current-account activities using the direct channels. Authorized debits,
standing orders, drawing checks, and drawing information from the ATM are all regarded
as direct-channel actions. Use the ATMs, the Internet and the computerized answering
service for other operations.

Remember. Operations such as making deposits or drawing from them, obtaining

and repaying loans, purchasing and selling securities - do not entail a teller fee, even
if they are carried out in the branch.

4. If you have the means for executing actions directly (information/withdrawal card,
cash/credit card) and you don't use them, return them and you can obtain a reduction
in the teller fee.

5. Compare the cost of the credit card you hold with the cost of other credit cards
issued directly by credit-card companies. Remember, there is no obligation to hold the
credit card issued to you by the bank that handles your account.
6. Examine the possibility of concentrating credit-card payments. You will only pay a
fee once for your monthly credit-card debt. Therefore, concentrating the authorizations
and paying by credit card could help you to save bank fees.

7. Check the monthly bank fee on your credit card, all the more so if you have more
than one credit card. Remember, discounts on fee payments for credit cards are given to
customers according to the volume of activity on the card.

8. Examine whether it is worthwhile to hold more than one credit card. If you have
inactive credit cards, return them to the issuer and save fees.

9. Avoid splitting transactions unnecessarily. Some services include a minimum fee for
each transaction (foreign currency, securities etc.).

10. Examine whether it is worthwhile splitting credit-card transactions into

installments. Since a fee is charge for each payment in installment transactions, splitting
the transaction into installments for small purchases could be unprofitable.

A few more tips…

When you make comparisons, the following might be useful:

• Basic price lists - can be obtained at any bank branches and in it's website.

• Form for comparing the administering of current accounts—can be found on the

Bank of Israel's website: www.bankisrael.gov.il

• Information and comparisons to be published by the Supervisor of Banks on the Bank

of Israel's website: www.bankisrael.gov.il

Make sure to always check:

• Whether you are entitled to benefits and discounts by virtue of belonging to population
groups that the bank exempts from fees, or provides a discount.

• Whether the bank will be prepared to offer you better conditions from those that appear
in the price list

Always check the rate of interest:

• On deposits—remember, you can also make a deposit in another bank (and not only in
the bank that handles your current account). The cost of transferring money has been
 significantly reduced in the wake of the reform, and is equivalent to one operation in the
direct channel. Compare which bank offers you the highest interest.

• On credit facilities—the fees for credit facilities have been cancelled. All that remains is
to compare the rate of interest.

• On loans—the fees for loans up to NIS 50,000 have been canceled. All that remains is to
compare the rate of interest.
 THE BANK FEES REFORM

Guide: How to change banks in the most convenient way

The bank fees reform, which went into effect on July 1, 2008, enables customers to
obtain all the relevant information regarding the fees charged by the banks, to compare
them, and to decide which bank should handle one's account. In order to encourage
competition between the banks, the Supervisor of Banks has also tried to ease, as far as
possible, the process of closing a customer's account in a bank and transferring his
banking activities to another bank.

In the wake of the reform, customers will now know the cost of each bank service, and can
compare the prices offered by the banks or other bodies providing the same service. With this
information at their disposal, customers can request to be charged discounted fees at the bank
handling their account, or if necessary, even transfer their account to another bank if it pays
them to do so.

If you have decided to change banks, this guide will enable you to make the transition
between the banks in the easiest, fastest and most profitable way.

The guide contains information on two major subjects:

1. The orderly process of closing an account or transferring activity from one bank to
another :

• Transmitting complete information about the customer's account in the bank.

• Avoiding the need for superfluous trips to the bank.

• Executing the actions by the bank to which the account is transferred.

• Transferring some activities to another bank.

2. Limitations on bank fees charged in the process of closing an account and transferring
banking activity.

For further information on the subject, you may consult Instruction 432, which deals with the
closing of accounts or the transfer of activity to another bank.
 THE ORDERLY PROCESS OF CLOSING AN ACCOUNT OR TRANSFERRING
ACTIVITY TO ANOTHER BANK

Submitting full information about the customer's activity

In order to assess your financial situation in the bank, and to weigh up whether it is
worthwhile transferring your account to another bank, you are entitled, twice a year and free
of charge, to request from the bank written information detailing all your assets in and
liabilities to the bank and the costs of early repayment, your credit facilities, fees that were
charged to your account in advance, the existence of a power of attorney on the account, etc.

The bank is required to issue the information form within four business days of your request.
It is recommended to request the form prior to making the decision to move to another bank,
because the form will help you:

• To assess whether it is worthwhile to transfer your activity (fully or partly) to another

bank.

• To obtain a clear and comprehensive list of issues that you have to deal with prior to
closing your account.

• To present your financial situation so that the banks you wish to transfer your account
to can assess your position and the conditions they will offer you.

Avoiding the need for unnecessary visits to the branch

In order to limit as far as possible the need to return repeatedly to the bank branch as part of
the process of closing your account and transferring it to another bank, you should do the
following:

• Ensure that you have given explicit instructions to the bank concerning the actions to
be taken regarding all the assets and the liabilities that were detailed in the information
sheet you received. At the time of issuing the instructions to the bank, you can include
future instructions (for example, to transfer the sum obtained from the future payment
of a deposit to your account in the new bank).
 • Request the bank to let you sign a form enabling you to issue instructions by telephone
or by fax, as opposed to having to return in person to the branch.

Actions to be undertaken by the bank to which you have transferred your account

The bank you have chosen to transfer your account to is entitled to undertake, on your behalf,
as requested by you, the following actions:

• Inform bodies that transfer credits to your account (National Insurance Institute, an
employer) of the new account to be credited;

• Inform bodies that are authorized to debit your account (Israel Electric Corporation,
cellular telephone company, Bezeq, etc.) of the new account to be debited;

• If you request the new bank to issue a new credit card, the bank is entitled to inform
all the bodies that debit your account by means of the credit card for continuing
transactions (for example, a newspaper subscription) of the details of the new credit
card to be debited.

Note:

If requested by you, the bank to which you have transferred your account is entitled to
execute any action for you, on condition that you submit a power of attorney to the bank in
which you authorize it to execute on your behalf any actions that involve transferring the
activity, including managing contacts with the bank in which you have closed your account.
These actions are conditional upon the bank's agreement to act in this way on your behalf.

Transferring some of the activities to another bank

In certain cases customers request that only some of the activities in the bank be transferred
to another bank.

Note:

You are entitled to transfer part of your activity in the bank to another bank, such as only
your current account or investment deposits in another bank; to obtain loans from another
bank (not the bank in which your current account is held); or obtain a credit card issued
directly by the credit-card company and not by the bank handling your account.
In these cases, if you are interested in transferring only the current activity from the account,
the Supervisor of Banks' instruction provides a solution to the major problems that could
make the transfer more difficult. For example:

• Current account—in addition to the above contents of the guide, if you transfer the
current activity but the account remains open because of a loan or a deposit or credit-
card debits or post-dated checks—the account will be known as an "exchange
account" on which current-account fees will not be charged.

• Deposits and loans—the bank is obligated to enable you to repay loans through
another bank account, on condition that there is sufficient collateral against the loans.
The bank is obligated to transfer a paid-up deposit directly to your new bank account.

• Credit cards—the credit-card company that you requested to issue you a new card is
entitled to inform all the bodies that debit your account by means of the credit card
for continuing transactions (for example, a newspaper subscription) of the details of
the new credit card to be debited.

LIMITATIONS ON FEES IN THE PROCESS OF CLOSING AN ACCOUNT AND

TRANSFERRING ACTIVITY

• The overall fees for the transfer of activity to another bank because of the closure of
an account are limited to a ceiling of NIS 40 (excluding early repayment fees and
bank expenses such as a payment to a third party).

• The fee for the transfer of activity on a credit card because of the closure of an
account is limited to an additional NIS 40.

These costs are anchored in the Banking Rules (Customer Service) (Fees), 2008.
Subject to the ceiling detailed above, the following are the fees for operations at the time of
closing an account and transferring activity to another bank:

The Service The Fee

Canceling an authorization for
debiting an account or a standing order
Bank transfer
Returning post-dated checks to the
depositor
Transferring securities to the same
customer's account
Transferring foreign currency to the
same customer's account in another
bank
In the case of cancellation of an authorization to debit an
account or a standing order, prior to the presentation of at least
6 debits—the banking corporation is entitled to charge a
minimum fee of 6 transactions in the direct channel
The operation fee in the direct channel or operation by a teller,
according to the channel in which the operation was executed
The fee for returning post-dated checks to the depositor in the
wake of closing an account, will not exceed NIS 5
NIS 5 plus the actual expenses of executing the operation
The fee for transferring foreign currency to the same
customer's account in another bank in Israel following closure
of an account, will not exceed NIS 10
 BANK FEES REFORM

Moving from one bank to another – FAQs

What do I have to do to move to another bank?

In order to move to another bank, the customer needs to do the following:

1. Obtain an information form from the bank about transferring one's current account;
the form includes a record of all your assets in and liabilities to the bank.
2. Examine the conditions available for you at other banks for handling your account,
and choose the bank that offers the best conditions.
3. Submit all the instructions to your bank regarding your accounts and your activities,
including future instructions, and carry out all the directives detailed in the
information form in order to close your account.
4. Sign an authorization to execute transactions by telephone with the bank handling
your account, so that if necessary the bank can execute your instructions without the
inconvenience of having to return repeatedly to the branch.
5. Request the new bank to undertake the following actions:
! Inform bodies that transfer credits to your account (National Insurance Institute,
employer) of the new account to be credited;
! Inform bodies that are authorized to debit your account (Israel Electric
Corporation, cellular telephone company, Bezeq, etc.) of the new account to be
debited;
! If you request the new bank to issue you with a new credit card, the bank can
inform all the bodies that debit your account by means of the credit card for
continuing transactions (for example, a newspaper subscription) of the details of
the new credit card to be debited.
OR
! You can submit a power of attorney to the new bank, if the new bank agrees, in
which you authorize it to execute on your behalf any actions connected to
transferring the activity, including contacting the bank in which you have closed
your account.
The process of transferring your account to another bank:
In the Bank in which Your Account is In the New Bank
Handled
Ask for the complete information form Check the conditions offered, and choose the
bank you would like to handle your account;
the information form might be of help.

Sign: Sign a request to open an account:

! A request to close your account
! All the instructions, including future
instructions, for executing the process of
closing your account
! Telephone instructions form (to be on the
safe side)
Ask the bank to execute on your behalf:
! The transfer of authorizations to debit
your account
! Inform institutions that credit your
account
! The transfer of instructions to your new
credit card

The process of transferring your account with the help of a power of attorney (with
your agreement and that of the bank).
In the Bank in which Your Account is In the New Bank
Handled
Ask for the complete information form Check the conditions offered, and choose the
bank you would like to handle your account;
the information form might be of help.

Sign a request to close your account Sign:

! A request to open an account
! A power of attorney
(Based on the power of attorney, the new
bank will handle the closure of your
account on your behalf)

Can I transfer only some of my banking activities?

Yes.
You can transfer:
! Your current account;
! Investment deposits, or you can take out a loan in another bank (not the bank that
handles your account) because the other bank offers you better conditions;
! Your credit card directly to a credit-card company.
Who do I approach in order to move to another bank?
You should approach the bank that handles your account in order to obtain the information
form for moving to another bank. When you receive the form you should approach the bank
you have chosen to handle your account.

How long does it take to obtain the form detailing all my assets in and liabilities to the
bank?
Within 4 business days the bank is required to provide any customer who is considering the
possibility of moving to another bank, with a form detailing all his assets in and liabilities to
the bank.

How much does it cost to move to another bank?

The fee for closing a current account and transferring a customer's banking activities to
another bank is limited to a ceiling of NIS 40 (excluding early repayment fees and expenses
incurred by the bank, such as payments to third parties). An additional fee of NIS 40 may be
charged for transferring credit cards from your account.