Before you start

Passport plus Teudat Zehut for residents and olim, or passport with visa or work permit for non-residents
An Israeli mobile number — a foreign number blocks app verification
Proof of a Netanya address: a lease, an arnona bill or a utility bill
For non-residents, proof of income or employment and a documented source-of-funds explanation

Step-by-step

1
Choose between a branch bank and ONE ZERO
Branch banks suit anyone wanting a named banker, a mortgage or business services, and all run an olim package. ONE ZERO is app-first on a flat monthly subscription instead of per-action fees, but it is not the right choice if you need a mortgage.
OnlineWho: You
2
Pick the branch by the language you will negotiate in
Netanya branches routinely staff French and Russian speakers. If Hebrew is not your strongest language, choose on that basis — you will be arguing about fees, overdrafts and mortgage terms for years, and doing it in a second language costs money.
In personWho: You
3
Ask explicitly for the cheapest plan or the olim track
Banks default you to the standard tariff and rarely move you unless asked. Raise it at opening, and again each year.
In personWho: You, with the branch
4
Attend in person for identity verification
Israeli regulation requires face-to-face or video verification for a first account, including at the digital banks.
In personWho: YouSame day to a few days for an appointment
5
Prepare the source-of-funds file if you are buying property
Netanya banks handle a large volume of foreign purchase money and the anti-money-laundering questions are correspondingly detailed. Assemble the paper trail for the funds — sale contracts, tax returns, bank statements — before you start, not when the transfer stalls.
In personWho: You and bank compliance staff
6
Complete the tax-residency declarations
You sign CRS declarations, and a FATCA W-9 with your SSN if you are a US person. Incomplete FATCA paperwork gets accounts frozen or declined.
In personWho: You and bank compliance staff

Documents you’ll need

Passport
Teudat Zehut for residents and olim, or visa / work permit for non-residents
Proof of Netanya address — lease, arnona bill or utility bill
Proof of income or employment, commonly required of non-residents
Documented source of funds for any property purchase money
Social Security Number for the FATCA W-9 if you are a US person

Things most newcomers don’t know

Netanya's branches are practised at foreign purchase money, which cuts both ways.

A large non-resident property-owning population means the compliance teams here have seen every shape of incoming purchase funds — and are correspondingly rigorous about documenting them. That is faster than a branch encountering it for the first time, and it is also less forgiving of a gap in the paper trail. Build the source-of-funds file before the money moves.

Source: Israeli anti-money-laundering requirements; community-reported

The fee plan is a negotiation, and almost nobody negotiates it.

Israeli retail banking stacks a monthly account-management fee on top of per-action charges, and the Bank of Israel regulates fee disclosure precisely because customers overpay by accepting the default plan. Asking for the cheapest maslul or an olim track at opening, and again yearly, is the highest-return five minutes of admin available to a newcomer.

Source: Bank of Israel — banking fees and consumer information

Even a digital bank needs you physically present once.

ONE ZERO is app-first and flat-fee, but Israeli know-your-customer rules require face-to-face or video verification for a first account regardless of the provider. Newcomers plan to open everything remotely before they fly and find they cannot. Book the verification for your first week.

Source: ONE ZERO; Israeli KYC requirements

Your arnona bill is the proof-of-address document that everything else accepts.

Banks, telecoms and government offices all want local address proof, and the municipal arnona bill in your own name is the cleanest form of it in Israel. That is a practical reason to register the tenancy with the municipality promptly rather than leaving the bill in the landlord's name.

Source: Netanya Municipality arnona registration; bank documentation practice

Common mistakes to avoid

Moving purchase funds before the source-of-funds documentation is assembled.
Accepting the standard fee tariff without asking for a cheaper plan or the olim track.
Arriving as a US person without a Social Security Number for the FATCA form.
Turning up without an Israeli mobile number, which stops app verification completing.
Signing a Hebrew account agreement that has only been summarised to you in French or Russian.

Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.