Bank of Israel’s recent assistance to Israeli Shortcut
The Bank of Israel recently requested that Israel bank corporations provide the list of nonresidents' designated branches to Israeli Shortcut.
In recently years, foreign residents living in Israel were refused permission to open a bank account, and were told by banks that they could only open accounts at designated branches specializing in providing services to foreigners.
Our organization has asked the banks numerous times to provide the details of the designated branches.
We sent letters to the bank corporations’ public inquiries desk asking for their entire list of designated branches throughout the country. Absurdly, we received a refusal from the banks with the explanation that this was personal information.
Immediately upon receipt of the banks’ ludicrous response, our organizations approached the Bank of Israel’s public inquiries desk asking for their help. We explained that the foreign residents who we assist, requires this knowledge to arrange their financial affairs in Israel.
To its credit, the Bank of Israel arranged for each bank to privately send us a list of its designated branches.
We note with regret that despite the Bank of Israel’s request to supply this information to our organization, Mercantile Discount Bank still refuses to give us this information and bluntly sent us this reply: "We have not been informed of the practical reason for requesting this list ... Your refusal to provide the above details and your insistence on receiving the complete list without pointing to any underlying need, raise the concern that you have extraneous considerations and are only fishing around.”
We will continue our efforts to acquire the entire list for the sake of foreign citizens residing in Israel.
Israel Shortcut’s chairman views providing this information as a vital service to the foreign population whose substantial contribution to the State of Israel’s economic growth is indisputable.