Low Fee Schedule

The benefits of applying a uniform daily rate to every transaction can really be seen in our low fee schedule.  Your True Cost with Clearshift is a quarter percent (0.25%) plus VAT for business accounts (subject to minimal conditions) or a half percent (0.5%) including VAT for personal accounts.  To understand how this compares to the True Cost of exchanging currency with your bank or broker, get a fresh quote from them and run it through our True Cost Calculator.  You will find that Clearshift’s True Cost can often be up to 80% less than theirs.  Brokers confuse customers by offering “no commission” exchange while they bury their excessive spread/markup in their rate quote.  Clearshift’s exchange rate markup is ZERO.  Our low service fee IS your True Cost of exchange.

Banks too have a system for confusing customers. Instead of charging an exchange rate markup on a known benchmark (zero-cost) rate, they maintain two exchange rates, a low one for when they buy a currency from you (שער קניה) and a high one when they sell that currency to you (שער מכירה). They sometimes actually offer a “discount” on these two rates, distracting customers attention away from the 2%+ markups they already built into their buy and sell rates. Below is a table with information on the rate spreads/markups and commissions/fees of the largest five banks in Israel. The spreads are for the bank's own daily rates (e.g., their closing rate) and tend to be even larger for intra-day "quoted" rates.

Rates Spreads & Fees for Big 5 Banks in Israel

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