To the full report

Supervisor of Banks Dr. Hedva Ber presented the Semiannual Report on the Prices of Common Banking Services for Households to the Knesset’s Economic Affairs Committee. The report is based on banks’ and credit card companies’ reports of actual income from fees collected in the second half of 2018 and the first half of 2019.


Main points of the report:

·         Over the past decade, there has been a decline of approximately 30 percent in the share of fees collected by banks (the ratio of banking corporations’ total income from fees to total activity). The decline is attributed to the cumulative range of the Banking Supervision Department’s activities during that period. In 2019, credit card companies Isracard and Leumi Card (Max) were separated from the banks as part of the implementation of the Increasing Competition and Reducing Concentration in the Banking Sector in Israel Law, 5777-2017. The data for June 2019 presented in this report do not include the 2 companies that were separated.

·         The average monthly cost for an account for households and private banking, for the first half of 2019, was NIS 26.9. During the past eight and a half years (2011–June 2019) there was a decline of approximately 17 percent in the average monthly cost for a household account and private banking account. This cost is made up of:

o   The cost of current-account activity, which decreased by about 38 percent,

o   The cost of credit cards which increased by about 19 percent. This increase derives mainly from the trend of increase over the years in the number of cards held by customers per individual account.

·         A significant measure that went into effect in August 2019 is proactive enrollment of small companies and authorized businesses in the basic or expanded fee track service, whichever is the most worthwhile for them. The step is expected to contribute to a reduction in current account fees for small companies and authorized businesses.


The Bank of Israel urges the public to consume banking products and services in a wise and informed manner, and invites the public to read the “Banking ID Card”, which presents an overall picture of the account, including fees and interest charges collected during the year.​​