In short: Suits new immigrants and foreign residents who can visit an international center in Tel Aviv, Jerusalem, Netanya or Ashdod. The main limits are the in-person visit and the absence of published fees for non-residents.
Terms for non-residents
- Non-residents
- Limited
- Remote account opening
- No
- Visa / Mastercard
- Yes
- Russian-language support
- Yes
- Assets
- NIS 581 billion at 30 June 2026 (about USD 195 billion at 2.978)
- Branches and staff
- 206 branches, more than 7,200 employees
- Net profit
- NIS 1.43 billion in the second quarter of 2026
- International centers
- Tel Aviv, Jerusalem, Netanya, Ashdod, for foreign residents and new immigrants
- Center opening hours
- Monday to Thursday and Friday until noon; closed on Sunday
- Share of the mortgage market
- 36.7% according to the bank's second-quarter 2026 presentation
- Owner
- Public company (TASE: MZTF); owns 50% of Bank Yahav
- Founded
- 1923
Pros
- Third-largest bank in the country and the mortgage leader
- International centers for foreign residents and new immigrants in four cities, with addresses and hours published
- Website in Hebrew, English, Arabic, Russian and Ukrainian
- Cost-income of 33.9% in the second quarter of 2026, better than Discount and FIBI
- In June 2026 it became the first in the country to launch NFC cash withdrawal at its ATMs
Cons and limits
- Non-residents need to contact an international center; remote opening is not described on public pages
- Some clients from Russia received tax residency requests
- Account terms and card fees for non-residents are not published
## About the bank
Mizrahi-Tefahot is a public bank (TASE: MZTF), officially named United Mizrahi-Tefahot Bank. Its history goes back to 1923. Union Bank (Igud) was finally merged into Mizrahi-Tefahot on 31 December 2022, and its clients moved to the bank by 15 November 2022. Mizrahi-Tefahot also holds 50% of Yahav.
At 30 June 2026 its assets were NIS 581 billion, about USD 195 billion at 2.978. That is third place after Leumi (NIS 947 billion) and Hapoalim (NIS 809 billion). The bank has 206 branches and more than 7,200 employees. Net profit for the second quarter of 2026 was NIS 1.43 billion, 1.6% lower than a year earlier because of the special levy on banks. The bank's cost-income ratio was 33.9%.
According to the bank's own presentation it holds 36.7% of the mortgage market, which is first place in mortgages.
## Account for non-residents and Russians
For foreign residents and new immigrants the bank has international private banking centers:
| City | Address |
|---|---|
| Tel Aviv | 25 Ben Yehuda St. |
| Jerusalem | 9 Helena HaMalka St. |
| Netanya | 5 Mapu St. |
| Ashdod | 12 Jerusalem St. |
The centers are open Monday to Thursday and on Friday until noon; Sunday is a day off. Remote account opening for non-residents is not described on public pages, so it is safer to contact a center and come in person. The bank does not publish a list of documents or thresholds for non-residents.
The website menu includes Russian and Ukrainian. General limits apply to Russians: legal status in Israel, a visit in person and a source-of-funds check. In early 2026 some immigrants from Russia received a demand from the bank to confirm that they are not Russian tax residents.
## Cards and payments
The bank's club card is the Mizrahi-Tefahot Club Card, issued as Visa Cal, Isracard or Mastercard. According to the website, for holders of Isracard, Mastercard and Visa Cal cards the bank offers a loan of up to NIS 60,000 for up to 60 payments, and purchases can be split into 3 to 18 payments.
In June 2026 the bank became the first in Israel to launch ATM cash withdrawal via NFC: a phone, watch or ring is enough, and a PIN is required. The function works at about 200 of the bank's own ATMs and only for Mizrahi cards. The Bank of Israel has required all ATMs in the country to support contactless withdrawal by 2030.
Mir and SBP are unavailable. Plan on Visa and Mastercard cards.
## Fees and limits
Fees are published on the bank's website. From October 2026 the Bank of Israel fee reform begins: the fee for an immediate-debit card is capped at NIS 7 a month.
## Who it suits
- New immigrants who live near one of the four international centers.
- Those planning a mortgage.
- Those who need a Russian-language website and a bank with a network of 206 branches.
For comparison, look at Discount with its International Private Banking unit and at Leumi with its mini-site for olim.
Frequently asked questions
Where are the Mizrahi-Tefahot international centers?
In Tel Aviv (25 Ben Yehuda St.), Jerusalem (9 Helena HaMalka St.), Netanya (5 Mapu St.) and Ashdod (12 Jerusalem St.). The centers are open Monday to Thursday and on Friday until noon. Current phone numbers are on the bank's international private banking centers page.
Does the bank offer Russian?
The website menu includes Russian and Ukrainian. The bank does not state the mobile app languages on public pages, so ask when opening the account.
Can a non-resident open an account remotely?
Remote opening for non-residents is not described on public pages. You need to contact an international center and, as a rule, come in person.
Which cards does Mizrahi-Tefahot issue?
The bank's club card is issued as Visa Cal, Isracard or Mastercard.
Does the bank accept Mir cards, and does SBP work?
No. Israeli banks practically do not work with Russian banks because of sanctions, so Mir and SBP (Faster Payments System) are unavailable.
How are Union Bank and Bank Yahav related to Mizrahi?
Union Bank (Igud) was finally merged into Mizrahi-Tefahot on 31 December 2022. Mizrahi-Tefahot owns 50% of Bank Yahav together with the government employees' company.