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Banking with Foreign SIM Card

In person banking services are becoming less and less available. Clients now use apps in order to complete all banking services. A foreign man, living abroad, had a SIM card that was not Israeli. To complete any transactions through a banking app, one must receive an authorization code to their cell phone. Our client with a foreign SIM card was unable to receive this code. Therefore, he was blocked from completing any transactions. With our representation and intervention, we were able to convince the Israeli Federal Reserve Board to oblige the banks to change their system and give access to foreigners that hold a bank account in Israel. Now, clients of the bank who are living abroad are able to participate in online banking without having to purchase an Israeli SIM card.

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Banking with Foreign SIM Card

Tzvi Szajnbrum, Attorney at Law