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Frequently Asked Questions

How long does it take?


Wire from a US Bank

As an example, if you first instructed your US bank to transfer USD to Clearshift on Monday, the ILS proceeds will hit your account on Tuesday. Note, however, regular bank transfers are visible to customers only the following morning, Wednesday in this example.

Monday: you instruct your bank to wire USD same day (domestic Fedwire) to Clearshift.
Tuesday: the USD credit appears in your Clearshift account Tuesday morning.  The USD is sold and converted to ILS at the Bank of Israel official daily rate for Tuesday, first announced at 3:45 PM.
Tuesday evening: Clearshift makes a bank transfer of the ILS proceeds to your Israeli bank account.
Wednesday morning: the ILS credit appears in your bank account dated as of Tuesday.

Please note that there is a 1:45 ET cutoff for receiving US wires. Funds received after the cutoff may experience a delay of one banking day.


What do I need to open a personal account?

Residence & Primary Proof of ID
To open a personal account, you must reside in Israel and provide us with your permanent address.  If you are an Israeli citizen, you will need to provide us a copy of your National ID card (תעודת זהות).  If you are not an Israeli citizen, you will need to provide us a copy of your unexpired passport issued by your country of citizenship.

Secondary Proof of ID
A second proof of ID verifying the details on your National ID card or passport is required as well.  Acceptable options are: an unexpired passport (if not used as your primary proof of ID), an unexpired driver's license or other government-issued photo ID, a credit card or copy of a canceled check from a bank account showing your name and permanent address. 

Bank Account
In addition, you will need a bank account in your name.  This bank account must be either the source or destination of funds for every transaction in your Clearshift account.  The details can best be provided by sending us a legible image of a canceled or voided check or bank statement from the account.
If your are sending us USD or any other foreign currency from a bank account outside of Israel, you will also need to provide us the exact name of the account holder and the country, bank, branch and number of the account.  These details, as well, can best be provided by sending us a legible image of a canceled or voided check or bank statement from the foreign account.

Declaration of Beneficiaries
Once we receive and verify your identification, a short form will be sent to you for your signature, certifying any beneficiaries to your Clearshift account other than yourself.

All of the above documents can be uploaded via our website or sent to us via e-mail.  An original copy of the signed Declaration of Beneficiaries is required, however.

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