Last Updated on October 18, 2021
Make simple, secure currency transfers to Israel.
If you need to move money to Israel – to make Aliyah, purchase a property or send money to loved ones – you might think that using your bank is the easiest option.
However, doing a little research and exploring the other options available could actually help you save time and make serious savings…
Currency transfer specialists – what do you need to know?
Currency transfer specialists like Currencies Direct were established to simplify the process of moving money overseas and help their customers make their money go further.
One of the key differences between a currency specialist and your bank is the exchange rates you’re able to achieve. Companies like Currencies Direct are able to secure you more competitive exchange rates than your bank, and even a small difference can have a big impact.
For example, if you were transferring £100,000 to Israel at a GBP/ILS rate of 4.6520 you’d achieve 465,200 ILS, but if you secured a rate of 4.4659 (4% weaker) your transfer would be worth 18,610 ILS less.
Currency specialists can also help you avoid the transfer fees charged by most banks and give you access to a range of transfer options.
Expert insight
Exchange rates move on a second-by-second basis, making it tricky to pick the right time to make your currency transfer.
Staying on top of the latest currency movements is the best way to time your transfer effectively, but keeping up with exchange rate movements is time consuming.
However, Currencies Direct’s team of currency experts will do all the work for you and let you know about any market shifts. They even offer a handy rate alert service – simply tell them the exchange rate you want to achieve and they’ll let you know by text and email if the market moves to that level.
Additionally, unlike banks (where currency transfers are one of many services) currency providers are completely focused on helping you protect your transfers from volatile market fluctuations.
Some even assign their customers dedicated account managers. These currency experts are able to support clients during every stage of the transfer and explain market conditions without the jargon.
Currencies Direct has helped over 270,000 customers save time and money on their currency transfers since 1996. As Naomi Feltham, Currencies Direct Israel Business Manager, states: “We offer a unique level of support and provide all the insights our customers need to make an informed decision and time their transfers effectively.”
Click here to make secure currency transfers to Israel by creating a free account with Currencies Direct within minutes, either online or over the phone
How to transfer your money to Israel
1. Spot Transfers
With a spot transfer you can make a quick, secure currency transfer to Israel at a highly competitive exchange rate.
2. Forward Contracts
If you’re worried about the exchange rate falling in the future, a Forward Contract gives you the ability to fix the exchange rate at the current price for up to a year ahead.
Fixing a rate can help you budget effectively as you’ll know exactly how many shekels you’ll receive.
According to Naomi, “A Forward Contract can be particularly useful if you need to budget for a property purchase.”
Fixing a rate in advance does mean you could miss out if the exchange rate rises but, crucially, you won’t lose out if it drops dramatically.
3. Regular transfers
If you need to make secure currency transfers to Israel on a regular basis, to cover a mortgage or transfer living expenses, Currencies Direct can automate these transfers for you and eliminate all the hassle.
4. Rate Alerts
If you want to achieve a specific exchange rate for your transfer simply set a rate alert. You select the rate you want to achieve and you’ll be notified by text or email as soon as the market moves to that level. You can then decide whether to make your transfer or set another rate alert.
Swift, secure, simple
If you’re ready to move money to Israel it’s easy to get started. Click here to create a free account with Currencies Direct within a matter of minutes, either online or over the phone.
Once you’re signed up, you’ll be directed to a dedicated account manager. They’ll take the time to understand your requirements and help you find the right transfer options for your needs.
Naomi adds: ‘With us customers have access to a flexible service that can be tailored to their individual needs. We’re always here when they need us, and we’re committed to helping them make their money go further.”
