Bank Yahav: who it is for and what newcomers should know

## About the bank

Bank Yahav for Government Employees was originally created as a bank for government employees. It now serves all retail clients. Mizrahi-Tefahot owns 50% of the bank together with the government employees' company, so Yahav is linked to one of the three largest banks in the country: Mizrahi-Tefahot is third by assets (NIS 581 billion at 30 June 2026). Yahav's own size is not stated in verified sources, so we do not give it.

## Schedule: 27 October 2026

The bank warned clients that 27 October 2026, the day of the Knesset election, is not a working day. Branches are closed and foreign-currency transactions are not carried out, while securities trading on foreign markets runs as usual. If you have urgent transfers or bill payments planned, make them before that date.

## Account for non-residents and Russians

The bank offers online account opening for residents of Israel. Terms for non-residents are not stated on the website, which works in Hebrew. General rules of Israeli banks apply to Russians: legal status in Israel, a source-of-funds check and restrictions on transfers from Russia.

If you have just arrived and do not yet have an Israeli ID, start with an ordinary bank.

## Cards and payments

Yahav's card products are not named on public pages, and fees are not listed separately. Mir and SBP are unavailable: Israeli banks do not work with Russian banks because of sanctions.

## Fees and limits

Fees are published on the bank's website. The Bank of Israel fee reform starts in October 2026.

## What to consider before opening an account

Yahav is a small bank, and a few questions are best settled in advance. Russian-language support is not declared and the website works in Hebrew, so be ready to communicate in Hebrew or English. Online opening is meant for residents, which means an Israeli ID is required; if you have only just received a teudat oleh, the rule that a new immigrant's certificate serves as ID for 30 days suggests not delaying your ID application.

Ask the bank which cards are available and what they cost: these details are not given on public pages. Also check the schedule for the coming days: on 27 October the bank is closed because of the election. If you need a bank with a separate unit for foreigners, look at Mizrahi-Tefahot with its four international centers: it holds half of Yahav, but its service for foreign residents is organized separately.

## Who it suits

• Israeli residents who read Hebrew comfortably.
• Those who find it convenient to open an account online.
• Clients looking for a niche bank close to the Mizrahi-Tefahot group.

Newcomers and non-residents are better off with the large banks: Leumi, Discount and Mizrahi-Tefahot.