Check 21 for Israel Money Changers

With so many US citizens coming to visit or live in Israel, there is a big demand for US foreign currency exchange.  . The Ministry of Finance in Israel reports that there are 1,919 registered  money changers in the country.

Money changers in Israel are seeking cost-effective and safe ways to exchange checks drawn on US bank accounts for local currency.  NationalACH provides check clearing services for Israeli money changers as well as foreign exchange companies in many other countries.

Check 21 is a fast and simple way to clear US checks.   Using a check scanner, both sides of the check are scanned and the electronic image is sent to a US processor for clearing.  Funds are deposited into the Israeli account.

All types of checks can be cleared using Check 21 image transfer technology including personal, business, and government issued checks as well as money orders.

Establishing an account is a straight-forward process.  Application forms are completed and submitted along with standard due diligence documentation.  Accounts can be set up within 14 business days.

Licensed money changers are not banks or brokerage houses.  Rather, the companies main function is to convert is money from one currency into another, serving a useful function for people traveling or living in Israel.