Coinepay Global Remittance supports transfers to Israel. Before you start, ask your recipient how they want to receive the money and collect the details for that payout method. For a bank deposit, the recipient’s Israeli IBAN is especially important. You can then review the currency, exchange rate and fees in Coinepay before confirming the transfer.
What you need before sending
You need a Coinepay account and must complete identity verification before sending. You can manage transfers through the Coinepay dashboard or mobile app. If you are new to Coinepay, register first and complete any verification requested in your account.
Get the recipient’s full legal name as it appears on their bank account or identity document. You will also need the payout details for the method you select. Ask the recipient to provide those details directly rather than copying them from an old payment or constructing an account number yourself. Keep a clear explanation of the payment’s purpose handy; Coinepay or a receiving institution may request supporting information or documents, including evidence of the source of funds.
Israel’s local currency is the new Israeli shekel (NIS), with currency code ILS. Check the destination and available payout currencies in Coinepay when setting up the transfer. If the recipient has both a shekel account and a foreign-currency account, ask which account should receive the payment and obtain the details for that specific account.
Choose a payout method for Israel
Coinepay supports bank deposit, mobile wallet and cash pickup as global payout types. The choices presented for a particular transfer can depend on the destination and route. Select from the methods actually shown in the app, and confirm the recipient can use the method before you proceed.
Bank deposit
For a deposit to an Israeli personal or business bank account, ask for the account holder’s full legal name, the IBAN supplied by the receiving bank and the bank’s SWIFT/BIC if the transfer form requests it. You may also need the recipient’s address or bank and branch details. The name and account details should match the receiving bank’s records.
An Israeli IBAN has 23 characters: IL, two check digits, a three-digit bank code, a three-digit branch code and a 13-digit account-number portion. That account-number portion may contain leading zeroes. The bank and branch codes are part of the IBAN, but enter them separately if Coinepay requests local bank or branch codes. Do not calculate an IBAN from an ordinary account number; have the recipient obtain the correct IBAN from their bank. Israeli banking rules generally require an IBAN for an incoming electronic transfer from abroad, subject to exceptions in a bank’s procedures.
The account to use matters as much as the format. For example, Bank Leumi notes that an IBAN for a shekel account can differ from one for a foreign-currency account. If your recipient banks with Bank Leumi, Bank Hapoalim, Bank Mizrahi-Tefahot or another Israeli bank, they should follow their own bank’s incoming-transfer instructions. A bank’s name alone is not enough to complete a deposit.
Mobile wallet
If Coinepay offers mobile-wallet payout for your specific Israel transfer, follow the fields shown in the app and ask the recipient for the details of the eligible wallet account. Confirm that the wallet is registered in the recipient’s real name and that they can access it. Do not assume a wallet used for payments within Israel can receive an international remittance: check the available wallet option in Coinepay before choosing this method. If none appears, choose another available payout method or contact Coinepay support.
Cash pickup
If cash pickup is offered for your transfer, select an available pickup option and enter the recipient details requested in the app. Give the recipient the pickup instructions and any transfer reference provided once the transfer is ready; share those details privately. The recipient should check the displayed pickup requirements and bring an accepted identity document bearing the same legal name entered on the transfer. They may need the reference and other information specified in the instructions. Do not send someone else to collect the funds unless the payout instructions expressly permit it.
How to send money to Israel step by step
- Sign in and start a transfer. Open the Coinepay dashboard or the iOS app or Android app. Choose the option to send money and select Israel as the destination.
- Choose the currency and payout method. Enter the amount and select from the currencies and methods displayed for your transfer. If the recipient needs ILS, check what they are expected to receive before continuing.
- Enter the recipient’s details. Use their full legal name and the information required for the selected bank account, wallet or cash-pickup option. For a bank deposit, check the IBAN character by character and verify any requested SWIFT/BIC or bank and branch codes against the recipient’s bank instructions.
- Review before confirming. Check the recipient name, destination, payout method, amount and currency. Coinepay shows the exchange rate and fees before you confirm; review them alongside the amount shown for the recipient. Correct any mistake before submitting.
- Confirm and track. Confirm the transfer only when the details are accurate. Use the transfer’s status tracking in Coinepay to follow its progress, and respond through the appropriate channel if more information is requested.
Transfers are subject to identity verification, sanctions screening and local regulations. Coinepay does not serve sanctioned persons or residents of jurisdictions under comprehensive sanctions, and it screens customers and counterparties. These checks can affect whether a transfer proceeds.
What the recipient should expect
For a bank deposit, tell the recipient to watch the account they specified, not a different account they hold at the same bank. Their bank may need to verify identifying details or ask about the purpose of an incoming international payment. Israeli banks also apply procedures for transfers with missing sender or recipient information and may suspend, reject or return a payment if required information is not provided.
For cash pickup, the recipient should wait until the transfer status and pickup instructions indicate the funds are ready, then follow the identity and collection requirements shown. For a mobile wallet, they should check the eligible wallet account if that method was available and selected. Availability and recipient requirements should be verified in Coinepay for the specific transfer.
Receiving money from abroad does not, by itself, determine how the recipient must treat it for tax purposes. The treatment can depend on what the payment represents. If it is income or a business payment, the recipient may need to keep records and seek advice about applicable Israeli reporting obligations. Businesses should also retain the payment purpose and transaction records needed for their accounting.
Troubleshooting an Israel transfer
- The name or bank details are wrong: If you have not confirmed the transfer, go back and correct them. If you have confirmed it, check its status and contact Coinepay support promptly with the transfer reference. Do not assume a confirmed payment can be edited or recalled.
- The IBAN is missing or rejected: Ask the recipient to get the IBAN directly from the receiving bank and confirm it belongs to the intended account and currency. Recheck the bank and branch information if separate fields are required. Avoid substituting a different country’s routing-code format for Israeli account details.
- The transfer is under review: Check for requests for identification, payment-purpose information or proof of source of funds. Provide accurate documents through the requested process. Coinepay and receiving institutions must apply their compliance checks; sending another payment will not resolve missing information on the first one.
- The status has not changed: Check Coinepay’s tracking first. Recipient-bank or intermediary processing, checks, weekends and public holidays can affect progress. If you need an update, give support the transfer reference rather than creating a duplicate transfer.
- The transfer is returned: Review the status and any reason provided, then confirm the recipient’s name, IBAN and other payout details before trying again. Contact support if the reason is unclear or you need help understanding what to correct.
The safest final check is simple: confirm the recipient’s real identity and current payout instructions, read the exchange rate and fees shown by Coinepay, and keep the transfer reference until the recipient confirms receipt.
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FAQ
Do I need an IBAN to send money to an Israeli bank account?
Generally, yes for an incoming electronic transfer from abroad, subject to the receiving bank’s procedures. Ask the recipient for the IBAN supplied by their bank.
What currency does Israel use?
Israel’s local currency is the new Israeli shekel, abbreviated NIS, with currency code ILS. Check the currencies offered for your transfer in Coinepay.
Can I send to a mobile wallet or arrange cash pickup in Israel?
Check the payout methods shown for your specific Israel transfer in Coinepay. Select a mobile wallet or cash pickup only if that option is available, and follow its recipient-detail and collection instructions.
What should I do if I entered the wrong recipient details?
Correct them before confirming if you can. If you already confirmed, check the transfer status and contact Coinepay support promptly with the transfer reference; changes or recalls are not assured.
