What Is a Shovar and How Do You Pay It from Abroad?
Your developer just sent you a Shovar. It arrived as a PDF with a voucher number, a due date, and a shekel amount. This guide covers what a Shovar is, how the payment works, and what you need to have ready before you send.
Shovar deadlines are fixed — Adesco pays the same day, so you never miss one.
or talk to us on WhatsApp
A real Shovar document - this is what your developer sends you
What is a Shovar?
A Shovar (plural: Shovarim) is a construction payment voucher used in Israeli real estate. When you buy a new-build property in Israel, the developer issues Shovarim at each construction milestone. Each voucher specifies a shekel amount, a due date, and a designated bank account. You pay by transferring the shekel amount to that account before the due date. Miss the deadline and your contract may impose penalty fees. For foreign buyers, this means converting your home currency to shekels and routing the payment through the Israeli banking system - all on time.
Why foreign buyers struggle with Shovar payments
Your bank has never heard of it
You call your bank to wire funds for a Shovar. They have no idea what you are talking about or how to route it.
The transfer takes too long
A standard international wire takes 3-7 business days. Your Shovar has a fixed deadline. If you initiate on the due date, you are already late.
It arrives in the wrong format
Wrong routing details, missing documentation, or incorrect format. The developer's bank rejects it. The deadline passes. Penalties kick in.
Already know what a Shovar is and just need to pay one?
Initiate a payment now →Need to understand the full buying process first? Read the complete guide to buying property in Israel
Your bank vs. Adesco
Ready to pay your Shovar?
Check each item before initiating a payment.
Why paying a Shovar from abroad is harder than it should be
The Shovar amount is in shekels, but your bank abroad cannot send shekels directly. You need to convert your currency to NIS, get the funds into the Israeli banking system, and route the payment to the exact voucher account on the Shovar document - all before the due date.
Standard international wires take 3-7 business days. If routing details are wrong or the receiving bank needs additional documentation, the payment gets rejected. That is why most foreign buyers use a licensed currency service that operates inside Israel and can process the Shovar payment on the same day.
The Madad can change your amount
Most contracts are linked to the Madad - Israel's Construction Cost Index. Each Shovar is recalculated at the current Madad value. A 3% increase on a 2M NIS property adds roughly 60,000 NIS to your total.
Estimate your full property costsMissing a deadline has real consequences
Late payments typically trigger daily penalty fees. In some contracts, extended non-payment gives the developer the right to cancel the transaction entirely. Using a same-day payment service eliminates the multi-day wire risk entirely.
Manage all your property paymentsThe adjustment you may not expect
How the Madad index changes your Shovar amount
The Shovar your lawyer sends you shows an amount based on the Madad index at the time your purchase contract was signed. But the amount you actually owe is recalculated against the current Madad when the payment falls due. Because the Madad has risen significantly over recent years, the payment due today can be meaningfully higher than the figure in your original contract.
Worked example — illustrative values
Contract amount
₪500,000
70% index-linked
Madad rise since signing
+23.5%
from 115 → 142
Amount now due
₪582,000
₪82,000 more than contract
Formula: ₪350,000 linked portion × (142 ÷ 115 − 1) = ₪82,175 Madad extra + ₪150,000 fixed portion = ₪582,175 total. Your contract percentage and index values will differ — confirm the exact amount with your lawyer before transferring.
What Adesco does when you need a Shovar paid
Upload your Shovar
You or your lawyer uploads the Shovar to your Adesco account (or sends it directly). Your advisor confirms the details before anything moves.
We convert and pay
Adesco converts your balance - whether you sent dollars, euros, or pounds, or already hold shekels - and pays the Shovar on the same day. Market rate, no hidden spread.
You get a stamped Shovar
You and your lawyer receive a signed Shovar with a paid stamp confirming the payment cleared on time. Your full payment history is available in your Adesco account.
Why buyers use Adesco for Shovar payments
Learn more about how Adesco keeps your money safe or read common questions from buyers.
“We had several transactions including payments directly to the seller and to our Israeli bank. Everything went very smoothly and Jay was very responsive.”
“They were kind, quick, and efficient. Well versed in all the legal requirements and helped us make this a very smooth process.”
“Better rate than bank currency exchange. They took care of a multi-step transaction for me.”
Related property transfer guides
Everything foreign buyers need to transfer money for Israeli property - all in one place.
Common questions
Shovar Payments in Israel - FAQ
Ready to handle your next Shovar?
Our team can walk you through the process, confirm the details, and initiate the transfer. Most Shovar payments are processed the same day.