Jazmin Li
Currency exchange at Jerusalem Airport is a convenient option for travellers, as it is easily accessible and provides a range of services, including ATMs, currency exchange counters, and bank branches. However, it is important to consider the potential drawbacks of exchanging currency at airports. Firstly, airport currency exchange services often offer unfavourable exchange rates and high transaction fees due to their convenient location. Additionally, there may be hidden markups or poor exchange rates that can result in a less favourable deal. To make an informed decision, it is recommended to be familiar with the current exchange rates and explore alternative options, such as using ATMs or exchanging currency at licensed stores in Jerusalem.
| Characteristics | Values |
|---|---|
| Currency | Israeli New Sheqel (ILS) |
| Currency name | Shekel |
| Currency code | ILS |
| Currency exchange at Jerusalem Airport | Possible but not recommended due to poor exchange rates and high transaction fees |
| Currency exchange in Jerusalem | Possible at banks, ATMs, and private exchange offices |
| Currency exchange recommendations | Research the mid-market exchange rate, use ATMs, and opt for local currency |
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What You'll Learn
Currency exchange at Ben Gurion Airport
While currency exchange services at the airport are convenient, they may not offer the most favourable rates. Some travellers suggest changing a minimal amount at the airport and then seeking better exchange rates at banks or currency exchange stores in town. ATMs at Ben Gurion Airport may provide a more competitive rate, but it is important to check whether your bank charges high fees for overseas withdrawals.
The post office at Ben Gurion Airport is located on the same floor as the pre-flight check-in counters. It is open from 7:00 am to midnight, Sunday to Thursday, and from 7:00 am to 2:00 pm on Fridays, but closed on Saturdays. The Israeli post office offers currency exchange services, but it may not support all foreign currencies.
If you are exchanging currency before your trip, it is recommended to buy a small amount of shekels in your home country to cover immediate expenses like transportation and snacks upon arrival in Israel. You can then exchange larger amounts at banks or currency exchange stores once you are in Israel, as they may offer better rates and lower commissions than airport exchange services.
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Using ATMs in Israel
ATMs are widespread in Israel and can be found at kiosks, public transport hubs, and outside bank branches. They accept common international credit cards such as Mastercard and Visa, although some cards may not work at certain banks. In this case, it is recommended to try another bank's ATM. ATMs in Israel usually have an interface in Hebrew, but many machines in central Jerusalem and Tel Aviv also offer an English language option, as well as French, Russian, and Arabic.
When using an ATM in Israel, there will likely be a charge for using an international credit card, as well as a commission fee. It is important to be aware of dynamic currency conversion (DCC) offered by some ATMs, which allows the ATM owner to set their own exchange rate, often resulting in a profit from your withdrawal. It is recommended to choose to display transactions in the local currency to withdraw money at a fairer exchange rate. Additionally, it is a good idea to notify your bank or card provider that you will be travelling to Israel to avoid any issues with your card being flagged for suspicious activity.
ATMs at the airport are a convenient option for withdrawing cash upon arrival in Israel, and they are accessible even if you arrive on a Friday afternoon when other options may be closed for Shabbat. Currency exchange services are also available at the airport, although the rates may not be as favourable as those offered by ATMs.
It is worth noting that while credit and debit cards are widely accepted at established businesses in Israel, cash is often needed for street markets and smaller vendors. Therefore, it is recommended to have some local currency on hand, especially when travelling to rural areas where ATMs may be harder to find.
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Exchanging foreign currency in Jerusalem
If you're looking to exchange foreign currency in Jerusalem, there are a few options available to you. The airport is a convenient place to exchange money, with currency exchange services open whenever the airport is. However, you may get a less favourable rate at the airport than at other locations in Jerusalem.
ATMs are readily available at the airport and throughout Jerusalem, and they offer a fast and easy way to withdraw cash in the local currency. It is recommended to use bank ATMs rather than non-bank ATMs to avoid potential issues. Many ATMs in Israeli cities offer an English language interface, as well as other languages.
If you prefer a safe transaction over optimising your cash exchange rate, banks such as Bank Hapoalim and Bank Leumi offer currency exchange services. However, banking hours are limited and working days may differ from what you are used to, so be sure to check their hours before visiting.
For those seeking the best exchange rates, licensed forex shops and money changers are recommended. Central Change, located on Ben Sira Street, is a popular option and is open until late most days of the week. Another option is Access Credit, which has nine branches across Israel and offers trustworthy currency exchange services.
It is worth noting that some businesses in Jerusalem may accept euros or dollars, but the exchange rate may not be favourable, and smaller stores may not accept foreign currency at all. Therefore, it is generally recommended to exchange your currency upon arrival in Jerusalem to get the most out of your money.
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Using credit cards in Israel
Israel is a developed country with a modern banking system, and credit cards are widely accepted. Visa and Mastercard credit cards are accepted in most places in Israel, and you can also use a foreign-issued Mastercard or Visa card (and sometimes American Express credit cards) in virtually all merchants.
However, there are a few things to keep in mind when using credit cards in Israel. Firstly, it is recommended to notify your bank or card provider that you will be visiting Israel, so they don't flag your card activity as suspicious and put a hold on your card. Secondly, foreign-issued credit cards cannot be used to make payments in Tashlumim, a common method of credit in Israel where merchants allow customers to pay bills over several months, interest-free. Finally, most credit card companies will charge a foreign transaction fee of around 3-5% for currency conversion, which can result in a poor exchange rate. To avoid this, consider using a credit card that waives or minimises foreign transaction fees, such as the Capital One credit card.
When travelling to Israel, it is always a good idea to carry some cash, preferably in the local currency, Israeli Shekels. You can exchange money at the airport, either at a bank or a currency exchange store, or withdraw cash from an ATM using your credit card. ATMs are widely available in Israel, including at the airport, and they usually offer better exchange rates than banks or currency exchange stores. However, it is important to use licensed and reputable money changers and avoid keeping money on deposit with them, as most are not insured.
In conclusion, using credit cards in Israel is a convenient and widely accepted form of payment. By notifying your bank, being mindful of foreign transaction fees, and carrying some local currency, you can ensure a smooth and enjoyable travel experience in Israel.
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Getting a fair exchange rate
When travelling, it is important to know how to get a fair exchange rate for your money. Here are some tips to help you get the best rate when exchanging currency.
Firstly, it is recommended to check the mid-market exchange rate in advance so that you are aware of how much your money is worth. Knowing the current exchange rate will help you identify a bad deal from exchange services.
When it comes to exchanging currency, it is best to avoid kiosks at airports, hotels, and tourist centres. The convenience of these exchanges often comes at a price, with poor exchange rates and high transaction fees. Instead, opt for a local bank or credit union, both of which typically offer better rates and lower fees. Alternatively, you can use a foreign ATM to withdraw cash in the local currency. ATMs will usually offer a fairer exchange rate than exchange bureaus, but be aware that you will likely be charged fees for using a foreign ATM.
If you are travelling to Jerusalem, be aware that the official currency is the Israeli new sheqel (ILS). While some places may accept US dollars or euros, you will likely get a poor exchange rate. It is recommended to exchange your money for shekels before your trip or at the airport, as this will offer a better rate than exchanging in the city.
Finally, consider getting a travel credit card with no foreign transaction fees. This will allow you to avoid many of the extra travel fees associated with exchanging currency.
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Frequently asked questions
No, it is generally advised to avoid exchanging currency at airports as the convenience often comes at a price in the form of poor exchange rates and high transaction fees.
The official currency in Jerusalem is the Israeli new shekel (ILS).
It is recommended to be aware of the current exchange rate and opt for local currency. Using an ATM abroad and picking the option to be charged in the local currency, in this case, the Israeli new shekel, will often provide a fairer rate.
Aside from exchanging currency at the airport or using an ATM, you can also exchange money at banks or local currency exchange stores. Banks usually provide a fair rate but charge the highest commission, while currency exchange stores may advertise no commission but offer a less favourable rate.
Yes, it is advisable to avoid exchanging money at hotels as they often offer poor exchange rates. Additionally, be cautious of street vendors or unofficial exchange services that may offer attractive rates but could potentially be scams or fraudulent practices.
