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Bank Leumi International Transfers & Exchange Rates
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Published On:
November, 22 2022
Edited On:
March, 20 2023

Bank Leumi International Transfers & Exchange Rates

Bank Leumi is the oldest bank in Israel and operates various local and international branches. Our review explores this Middle Eastern bank’s international money transfer services, global coverage and banking products.

About Bank Leumi

Bank Leumi was founded in 1902 by Dr. Theodor Herzi, to serve as a financial support arm of the Zionist movement in Israel. Today, 120 years after it was established, Bank Leumi is among Israel’s oldest banking corporations and is known as one of the Middle East’s leading financial institutions.

The bank has more than 250 branches across the country, catering to individuals as well as small to medium sized enterprises, and large corporations. Bank Leumi is committed to continuous development in areas related to innovative technology solutions and sustainable banking.

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Can I Use Bank Leumi for International Bank Transfers?

Yes, Bank Leumi uses the SWIFT network to execute international bank transfers at any branch.

Other Ways to Send Money With Bank Leumi

Internet banking and phone banking are the two other ways to send money with Bank Leumi. Customers can access internet banking from any smart device through a browser or the bank’s app.

Customers can also send domestic transfers to any Israeli bank. Customers must first permit this feature via their internet banking account. Before authorization, customers will be required to input their beneficiary’s details.

Bank Leumi Exchange Rates and Fees

Bank Leumi provides a foreign currency exchange services to customers and posts live rates online every day. We will be reviewing these rates, along with any transfer fees, to see how affordable this service is.

Exchange Rates

Bank Leumi has foreign currency ATMs which can be used to withdraw money using the lowest foreign currency rate with no exchange commission. At the time of writing, the bank applied profit margins ranging from 3 - 5% above the mid-market rate for all available currencies.

Transfer Fees

The bank does not disclose its transfer fees on its website, so customers are advised to enquire in-person at any Bank Leumi branch or via the bank’s customer support channels.

Additional Costs

There is a distinct lack of transparency in regards to the fee structure employed by Bank Leumi. For this reason, we would encourage customers looking for low-cost services to consider alternative options beyond the world of banking.

How Do Bank Leumi Transfer Fees Compare to Using a Money Transfer Provider?

In the absence of information about transfer fees and additional costs, it is hard to say if Bank Leumi is better than money transfer providers. It is advised to talk to a bank representative to learn more about the exchange rate of your desired currency pairing, as well as any other fees.

TorFX is an alternative money transfer service that customers can explore. It sends money to over 110 countries worldwide in 60 standard and exotic currencies.

Although TorFX does not disclose its exchange rate, it says its rates are lower than the average bank rates and displays a sample comparison on its website.

TorFX rates are lower for larger transfers than smaller ones of about 1000 USD. TorFX does not charge transfer fees. Customers can get a live exchange rate quote from the bank upon request, by phone, or online.

TorFX offers three transfer options for different needs:

  • Spot contracts for immediate transfers

  • Forward contracts for future international payments

  • Market orders for targeted exchange rates

The duration of a transfer can be affected by currencies and the locations of the sending and receiving banks. Transfers can take from 1-4 days, depending on these factors. But for more common currencies and bank locations, transfers can be expected to arrive on the same day.

Bank Leumi SWIFT Codes

Bank Leumi primarily uses SWIFT transfers to receive remittances from abroad. The format of its SWIFT code is: “LUMIILITXXX,” where the final three letters (XXX) are replaced depending on the bank’s branch code.

The bank provides a branch locator on its website for customers to view the respective branch codes. Customers can view other sources that have compiled a list of the bank’s SWIFT codes as follows:

Bank Leumi Pros and Cons

Customers might be interested in knowing more details about the money transfer options and related banking services Bank Leumi offers. Here are some pros and cons of its services:


Secure online banking: Bank Leumi employs sophisticated fraud prevention solutions to significantly reduce the risk of cyber-threats
Multi-currency accounts: The bank offers a multi-currency platform that supports five international accounts; find out more about these kind of accounts in our guide below


Lack of transparency: Unlike the leading companies in the global remittance industry, Bank Leumi does not offer customers much transparency when it comes to their international money transfer services
Service limitations: Some of the bank’s services are available to subscribers only, subject to the terms found in the General Terms of Operation of Accounts
Language barriers: As an Israeli bank, some services are only available in Hebrew, e.g., text transfer and mobile apps, making this provider less accessible to customers outside of Israel

How to Send and Receive Money With Bank Leumi

This section serves as a guide for customers on sending and receiving local and international money transfers with Bank Leumi. Customers can use this to initiate their money transfers.

Sending Money

Online banking and text transfer services allow you to transfer money to your Bank Leumi account wherever you are.

Here are the steps for online banking transfers:

  • Step 1: Requests for money transfer must indicate your account number structured similarly to the IBAN.

    • ILxx010XXX00000YYYYYYYY

    • IL = Israel

    • xx = 2 characters issued by the sender’s branch

    • 010 = Bank Leumi’s ID number

    • XXX= Your Branch Number, which you can find in the bank’s branch locator

    • Five 0s = Filler to reach the required 13 characters

    • YYYYYYYY = Your account number

  • Step 2: If money transfer originates from outside Israel, the request for money transfer must include:

    • Sender’s information: name, account number, and address

    • Recipient’s Leumi information: customer’s name, Leumi account number

  • Step 3: Indicate the following details:

    • Bank Name: BANK LEUMI LE ISRAEL B.M.

    • Leumi’s SWIFT Code: LUMIILITXXX

Suppose you want to transfer funds from your Leumi account to a beneficiary or yourself. In that case, you may do so through the Leumi mobile app, Leumi digital banking terminals, or the Leumi website, using the text transfer service. However, the service is only available for non-business customers with a Leumi credit card and is done in Hebrew.

The process is simple: sign in to your account, then click on “SMS Transfer” from the menu. You will be requested to input the recipient’s details and the amount you intend to transfer. Wait for transfer authorization.

The beneficiary of a text transfer will receive a text message with a one-time code. The beneficiary may then go to either a Leumi ATM to withdraw the amount transferred or the Leumi website to transfer the exact amount received to an Israeli bank account of their choice.

Receiving Money

The instruction above regarding information for IBAN transfers can also be used to receive money transfers via online banking.

Text transfers can also be used to receive money via ATMs or online banking. Beneficiaries will receive a one-time code that indicates incoming money can be accessed. The code (along with the total amount received and ID number) can be entered in a Bank Leumi ATM to withdraw the amount in cash or direct it to any personal Bank Leumi account.

Additional Information

Foreign residents with Bank Leumi accounts can ask for help from the bank to manage their funds abroad. Various bankers can be contacted from the “Foreign Residents Center” webpage of the website.

Appointments with the bankers can be set through the website, chat, or fax (number: 972778080514 or 972777790691).

What Customer Support Options Are Available?

Bank Leumi has automated call center services available 24x7. You may reach *5522 or 03-9545522 for account and transaction information.

You may also go online through the Leumi Online banking website or its mobile app to correspond with a banker.

Customers can also consider TorFX a money transfer option if they cannot reach Bank Leumi. TorFX can be contacted by email through their website or by phone at these numbers:

  • Tel. +44 (0) 1736 335250

  • Fax: +44 (0) 1736 369435


Bank Leumi offers international money transfers, but that does not mean it is the best option for customers sending or receiving money to Israel. The bank does not disclose the processing time of each money transfer or its transfer fees, which is a serious disadvantage considering the clear and concise approach taken by rival money transfer providers.

For instance, TorFX is a leading money transfer operator which supports remittances to over 110 countries worldwide, with 60 standard and exotic currencies available. All the information customers need before setting up a payment can be found on the company’s website. It is this transparency that sets apart specialist providers from more traditional banking options.

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April Summers
April Summers
April is a trained journalist and the Content Editor for She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she's not writing about global remittances she can be found daydreaming about her next holiday abroad.

Answers to key questions about Bank Leumi

In a bid to help our customers explore all that Bank Leumi has to offer in terms of international transfer services, we have answered the following commonly asked questions.

Can I open a Bank Leumi account in any country?
Does Bank Leumi have an app?
Are there transfer limits?
How long do transfers take with Bank Leumi?
Can I use a Bank Leumi debit card when traveling abroad?
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