Israel is a country in the Middle East bordering Egypt, Jordan, Lebanon, and Syria. For almost a century the politics of Israel has made headlines and the country continues to be embroiled in controversy. Despite this, in 2019 Israel was ranked 30th in terms of GDP, with valuable imports such as diamonds, petroleum and cars.
Over the last 50 years the legal tender of Israel has changed several times; from the Israeli Lira (1948 – 1980) to the Israeli Shekel (1980 – 1986) to today’s official currency of the State of Israel, the New Shekel (ILS) introduced on January 1st 1986. The ISO (International Organization for Standardization) country code for Israel is ILS 3166 and the nation’s official foreign exchange reserves are issued by the Bank of Israel.
When considering how to send money Israel from France there are some key aspects of the transfer to consider.
Some customers experience difficulties when sending money to Israel due to increased scrutiny surrounding the source of funds being transferred. For this reason, we recommend choosing a service provider that specialises in money transfers between EUR and ILS to avoid any issues later down the line.
The cheapest provider we found is TorFx at 1.32% above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using CurrenciesDirect when transferring EUR to ILS.
This means that by using CurrenciesDirect for online money transfers to Israel from France, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access CurrenciesDirect for any reason, our comparison engine has found TorFx and Wise also to be very good options when sending EUR – ILS.
This recommendation was updated one minute ago.
In order to avoid high fees, you should consider the cheapest way to send from France to Israel.
TorFx has been determined by our comparison engine to be currently offering you the cheapest rates possible.
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When sending money from France to Israel, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers. Currently, CurrenciesDirect is the fastest way to send EUR – ILS.
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.
To avoid high fees you can opt to use an online money transfer provider such as Wise to pay for your transfer to Israel.
With CurrenciesDirect you can send money online to Israel using your debit card. But before making a payment, make sure you understand all the processing fees in place.
Bank and wire transfers are the most common ways of sending money Israel as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use CurrenciesDirect to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
If you want to make an international transfer using wire transfer, you will need to know the SWIFT/BIC code of your recipient in Israel. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in Israel.
When sending money to Israel from France using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as CurrenciesDirect, TorFx and Wise.
Before sending money to Israel from France, you should consider the following:
This one’s easy. Simply use our comparison table above to find the best provider to send EUR to ILS. After that it’s just a process of making your transfer via the following steps:
Your recipient has a few methods available to receive your money in Israel. These will vary between providers, but it is possible to find services that will:
If your recipient is going to collect or have the money delivered to them in Israel, then they will usually need the following:
The amount of ILS you can receive from France will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of ILS that can be received in Israel or sent from France before making your transfer.
April is a trained journalist and the Content Editor for MoneyTransfers.com. 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.