Nonbank entities joining the ZAHAV system

Nonbank entities joining the ZAHAV system

Entities interested in participating in settlement in the ZAHAV system must meet all of the terms and conditions listed in the milestones of the process as follows:

 

a. Business and infrastructure preparations

  • 1. Approval by the Payment Services Oversight Division to initiate the process
  • 2. Initial contact by the entity requesting access to ZAHAV
  • 3. SWIFT and information security aspects
  • 4. Request to join ZAHAV, including a business specification and setting the date for joining
  • 5. Notice in the ZAHAV Committee
  • 6. Approval of the request

b. Project preparations

  • 7. Approval by the Payment Systems Oversight Division for the trial environment and completing the agreement envelope
  • 8. Examination of the access requester with ZAHAV
  • 9. Examinations with all ZAHAV participants

c. Launch

  • 10. Approval by the Payment Systems Oversight Division for the production environment
  • 11. Operational preparations
  • 12. Implementation in production environment

Fees for joining and using the ZAHAV system

Joining fee: The joining fee is a one-time fee for a new ZAHAV participant. The fee currently stands at NIS 50,000.

Monthly fee: The monthly fee includes a fixed component and a variable component, as detailed below:

 

Participant size

Number of transactions per month

Fixed component

Variable component

Large participant

Above 6,000

NIS 45,000

NIS 2–8 per transaction, according to the number of transactions per month

Medium participant

1,001–6,000

NIS 20,000

Small participant

101–1,001

NIS 5,000

Micro participant

Up to 100

NIS 2,500

 

 

 

 

Transactions of up to NIS 1,000,000 will not be charged the variable component.*

This page was last updated on: 20/02/2025