Financial Information
Money and Banking in Israel
Currency:
The New Israeli Shekel (NIS) is the official monetary unit in Israel. Banknotes circulate in denominations of 10, 20, 50, 100, and 200 NIS, and coins in 10, and 50 Agorot and 1, 2, 5, and 10 Shekels. (One Israeli Shekel = 100 Agorot).
Currency Converter
The Banks:
Beer-Sheva is served by many banking companies, which also have branches overseas and will be happy to advise you with up-to-date information. Most of the main banks are located in the Old City, with additional branches in every part of the city and suburbs.
Bank Hapoalim, one of Israel's major banks, maintains a full branch office on the main BGU campus, which is open during the following hours:
Sunday, Tuesday, Wednesday 08:30-13:15
Monday, Thursday 08:30-13:00 and 16:00-18:30
As these hours change from time to time, please check the hours posted at the entrance to the bank.
This brach office has two ATM's at your service: One near the main entrance and the other in the basement of the Student Center, next to the Academon shop.
Some Advice:
- Avoid changing foreign currency on the black market.
- Avoid keeping large amounts of money in your pockets, automatic tellers are available almost everywhere for NIS withdrawals.
- Deposit cash and Travelers Checks in a bank when you arrive in Israel.
- All non-residents and newly arrived BGU guests and visitors are allowed to open foreign currency accounts. Funds are generally withdrawn and converted into Shekels only when needed, thereby maintaining their original value.
