Not every service offering to move your money to Israel is offering a fair rate, or protecting your funds and your data properly. This checklist covers what to verify before you commit.
The Short Answer
Before choosing a currency exchange service in Israel, verify the provider holds a license from the Israel Capital Market, Insurance, and Savings Authority. Adesco's license number is 57103. Then ask for their exchange rates and the full list of fees, confirm same-day processing, ask where your funds are held during transit, and confirm there are no receiving fees on the Israeli side.
1. Is the provider licensed by the Israel Capital Market Authority?
This is the most important question. A licensed provider must hold client funds in segregated accounts at Israeli banks, report all transactions to regulators, and comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements. Ask for the license number before you transfer anything. Adesco's is 57103.
2. What rate will you actually receive?
Ask for the rate and for the full list of fees. Ask how the provider's spread works and where it is taken from: the Representative Exchange Rate (שער יציג) or live rates (שער רציף). Banks do not show this margin as a fee. A licensed specialist should give you a rate close to mid-market, transparently, and tell you about any other fees up front.
3. Are there fees beyond the rate?
Banks charge an outgoing wire fee, correspondent bank fees, a receiving fee at the Israeli bank, and a hidden margin inside the rate itself. A transparent specialist gives you one number covering everything. Ask explicitly: are there any fees on the Israeli end?
4. How fast will the money arrive?
Banks take 3 to 7 business days. A licensed specialist with direct Israeli banking relationships is faster. At Adesco, conversion and payout in Israel happen the same day your funds arrive. Other providers may take a few days.
For property Shovar payments (formal payment vouchers issued by the developer at each construction milestone, each with a fixed due date and shekel amount) same-day processing is not a convenience. It is a requirement you should ask for.
5. Where are your funds while they are moving?
Your funds should be held in a segregated trust account at a licensed Israeli bank, separate from the company's own money. They should not be invested, lent, or used for the company's expenses. Ask directly where your funds are held during the transfer. A trustworthy provider answers immediately.
6. Does the provider support your currency?
Not every service handles every currency. Adesco supports USD, GBP, EUR, CAD, CHF, PLN, AUD and other major currencies, all converted to shekels. Confirm yours before you start the paperwork.
7. Can they handle AML and KYC compliance?
For large transfers, Israeli banks require Source of Funds documentation, AML compliance, and KYC verification. A specialist who handles this as part of the process means no last-minute documentation scrambles. A specialist who leaves it to you means delays.
8. Will you get a real person, or a call center?
Bank support lines route you through hold music and a different agent every time you call. A dedicated advisor who knows your file, not a ticket number, is the difference between one phone call and ten follow-up emails. Ask directly: will you have a named point of contact, and how do you reach them?
This is not a soft criterion. Clients who compare providers over years of repeat transfers notice it most.
Adesco is an amazing currency service. I have used many currency traders over the years given my work in Israel and overseas, and Adesco truly stands out. They are ridiculously fast, extremely fair, offer great exchange rates in real time, and maintain an incredible service team that is prompt and courteous. I highly recommend them without any hesitation.
Leonard Hammer, Frequent Trader
The Non-Negotiables
For large, complex transfers, property purchases, relocation savings, trust account funding, or ongoing support payments to family in Israel, the provider you choose will either simplify this or complicate it. Five things are not optional:
- Licensing by the Israel Capital Market, Insurance, and Savings Authority
- Rate transparency, including where the spread is taken from
- Same-day processing once your funds arrive
- Client funds held in segregated accounts at Israeli banks
- A named advisor on the other end, not a support queue
Adesco is licensed by the Israel Capital Market, Insurance, and Savings Authority (License 57103) and handles all eight of the checks above. To get started, open a transfer request or speak with the team on WhatsApp at +972-52-220-7326.
For more on fund safety, see Adesco Keeps Your Funds Safe. For currency strategy across a property purchase, see Smart Currency Strategies for Buying Property in Israel.