One of the hidden costs in buying a property in Israel comes to light when transfering over funds.
Most banks charge a commission but this is not where the real money is made.
Most currencies are quoted at their mid or representative rates. In Israel this is called the "Shaar Yatzig"
You may have noticed when changing money at the bank a noticeboard that quotes buy or sell rates. these are usually at least 1.5% over or below the mid rate such that their overall profit is double that figure.
We have discovered that there are institutions that will carry out the transfer for you at a fraction of the cost:
We work with a few companies. Here is a link to one that will tell you exactly how much the total cost is:
N.B. Whilst we are happy to recommend third parties that we believe provide excellent levels of service and integrity, clients must satisfy themeselves and ask for recommendations or testimonials. It should go without stating that no warranty is given for any such recommendations