Introduction

Transferring money from the United States to Israel can be a simple yet critical task, whether you are supporting a friend or family member, or making a significant donation. This guide will explore the best methods to ensure your funds are transferred efficiently and cost-effectively.

Method 1: Opening a US Bank Account with a Debit Card

For sending money to someone in Israel, opening a separate US bank account for them is a highly recommended method. By setting up a linked account and equipped with a Mastercard or Visa debit card, you can transfer funds anytime, day or night. This ensures immediate access to the funds, making it one of the most convenient options. Fees are generally minimal, making this a cost-effective choice.

Method 2: Using WorldRemit

WorldRemit is another excellent option, particularly if you prefer to deposit the money directly into a bank account. As of today, sending 100 USD would result in 326.6 ILS after fees. However, it’s crucial to note that using banks for money transfer can be more expensive, with a fixed fee of 25 USD, which often makes them less favorable unless you are transferring large amounts.

Method 3: FedEx

For non-financial transactions like money physically, FedEx can be a reliable option. It ensures prompt delivery and security. For those in the New York area, it might be worth visiting a Money Changer in a local Jewish orthodox neighborhood for additional solutions that could be more cost-effective.

Method 4: Wire Transfer

Wire transfers are ideal when sending money directly to a specific person or company without a US bank account. However, if it's for a small sum, alternatives like PayPal or Venmo are also viable options. For donations to Israeli causes, it is often beneficial to find affiliates in the US through direct communication or by seeking out organizations like the one mentioned (number 054 3027726).

Method 5: Using ATMs

For withdrawing cash directly in Israel, using an Israeli ATM is the most straightforward method. Banks like HaPoalim and Discount can provide higher withdrawal limits, though these need to be arranged with your US bank. Sticking to well-known banks can ensure smoother transactions and generally higher withdrawal limits.

Conclusion

The best method for transferring money from the USA to Israel depends on your specific circumstances, such as the purpose of the transfer and the amount involved. For quick and cost-effective transfers, consider opening a linked US bank account or using WorldRemit. For smaller amounts, alternatives like PayPal or Venmo might serve better. For urgent needs, FedEx and local money changers are reliable options, while direct wire transfers are ideal for specific recipients.