Debit card fees capped at NIS 7 a month: what to check in your bank account this October
Since the start of October 2026, the monthly cap on immediate debit card fees has been NIS 7. Holders should now check the card‑fee line and the period covered by the payment. This is a ceiling on a particular fee; it does not turn every bank account service into a package costing NIS 7.
The start date and amount were set in the price control order published in the official gazette in June. The Bank of Israel announced a phased reform: debit card fee supervision begins in October, while the new charging method for account transactions is scheduled for July 2027, with banks allowed to introduce it earlier. Distinguishing the dates matters to anyone trying to understand this month's charges.
First identify which card is being charged
The Bank of Israel explains that a debit card charges the account close to the transaction, unlike a deferred‑payment card whose transactions are charged on a monthly date. Start with the product name and charge type shown in the customer's documents, rather than assuming two similar‑looking cards used at the checkout are the same.
According to the central bank's explanation of debit cards, they can also be used for remote purchases, but do not include a credit facility on the card or allow installment transactions. However, using one can draw on an account's overdraft facility and incur interest on a debit balance. Lower card fees do not change the distinction between fees and interest.
Anyone unsure which product they hold can ask the bank for an explicit answer: is it an immediate debit card, what is its monthly fee and which discounts or exemptions apply? Keep the answer alongside the statement so the explanation can be compared with the actual charge.
A maximum price is not a required charge
The price control order sets a maximum of NIS 7 a month for immediate debit card fees. That does not mean every customer must pay the ceiling. When reviewing the account, compare the customer's personal terms too, not only the maximum price in the order.
As an arithmetic example only, if a customer's fee was NIS 9 a month and falls to NIS 7, the difference is NIS 2 a month. Over 12 full months on the same terms, that is NIS 24. This is not a savings forecast for every cardholder, because previous prices and benefits differ between customers.
Anyone already paying below the ceiling should use their own previous price as the comparison point. Moving from NIS 4 to NIS 7, for example, is not a saving for that customer even if the new amount does not exceed the cap. Ask the bank to explain the previous benefit and its expiration date, if one was set.
Check the period, not just when the charge appears
Open the fee statement and identify three details: the service name, the amount and the month for which it was charged. If the description is unclear, request a breakdown from the bank. A line appearing in October does not, by itself, explain which period it covers or whether it includes additional components.
If the expected and charged amounts differ, make a focused inquiry citing the precise charge line. Request a written explanation and a check that the fee matches the tariff and personal terms. There is no need to provide information irrelevant to the question, and certainly no secret code or account access details.
An orderly review also helps households with several cards. Assign each charge to the correct card and holder before calculating the total expense. This reveals whether the change concerns a particular product or reflects another card, an expired benefit or an additional service needing separate clarification.
The broader account‑transaction change comes later
The Bank of Israel's reform announcement described a new payment‑account management service grouping basic transactions. The central bank set general implementation for July 2027, with interested banks able to start earlier. The start of debit card supervision therefore does not mean every other part of the reform begins the same day.
A customer reading several amounts and dates in one announcement should check by service. Card fees are one line. Account‑transaction fees are another matter. If the bank announces a move to a new model, ask for its start date and the terms applying to the particular account instead of inferring them from a general headline.
There is no need to wait for the broader change to understand the current account. Gather the fee breakdown now, identify what you pay for and clarify existing benefits. This check does not require changing banks or cards: it provides a basis for comparison and a conversation with the bank about the real cost of services used.
What to keep for the next statement
Keep a copy of the current statement and the bank's response if an inquiry was made. Next month, compare the same line for the same product on the same terms. If a refund or correction is involved, check when it should appear rather than settling for a general assurance that the matter was handled.
The new ceiling provides a clear checkpoint. The personal review adds what the order cannot say about every account: what you paid before, which benefit was promised and what is being charged now. Combining these three details shows whether the change is already reflected in your statement.
Read also: Reading the bank fee report alongside your personal price
