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Us dollar to shekel is around 4 to 1, I see today its 3.66 t

CALI
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Us dollar to shekel is around 4 to 1, I see today its 3.66 t

Us dollar to shekel is around 4 to 1, I see today its 3.66 to 1

Looking for real life answers from those that just returned

Reason is, I have friends relative coming from israel next week, he is willing to exchange monies with me near my home, what is a fair rate?

Option #1, exchange at the bank in israel, what is rate? What fees

Option #2, use credit card that says “no exchange fees”, estimated rate, even a range

Option #3, exchange at money broker, are these only in jeruselum and tel aviv

Option #4, use atm to get monies from usa bank card, estimated fees?

Thousand Oaks...
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1. Re: Us dollar to shekel is around 4 to 1, I see today its 3.66 t

Option #5 - Exchange directly with your friend at the going rate. Fees = 0

Tel-Aviv
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2. Re: Us dollar to shekel is around 4 to 1, I see today its 3.66 t

For comparison purposes, you can check online the rate that the Post Office gives :

http://tinyurl.com/nh6mcrl

They charge no commission. The currency exchange stores also charge no commission and usually give a slightly better rate.

Edited: 21 May 2013, 18:47
CALI
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3. Re: Us dollar to shekel is around 4 to 1, I see today its 3.66 t

option #5, what is fair rate, just because I see 3.66 is the Israeli getting 3.66???

Jerusalem, Israel
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4. Re: Us dollar to shekel is around 4 to 1, I see today its 3.66 t

3.67 is the rate today. You can check the Bank of Israel site for the current rate. The dollar has strengthened lately.

Cincinnati, Ohio
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5. Re: Us dollar to shekel is around 4 to 1, I see today its 3.66 t

Another -- and the easiest -- option is to simply use your ATM card to withdraw shekels once in Israel. Your account at home will be debited in dollars, and while there is a transaction fee and a 3% foreign currency transaction fee, it is still extremely convenient, and you will also get the bank rate at that moment. If you ask your bank -- and you're a good customer -- they may even waive the foreign currency transaction fee. Mine does.

Good luck!

Douglas Duckett

Vacationing in San Francisco

Israel
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6. Re: Us dollar to shekel is around 4 to 1, I see today its 3.66 t

It's true the post office charges no commission, but you might have to wait ages. Only a few days ago I was with friends visiting from England, and the time they (we) spent in the queue at the post office to change money could have been much better spent doing something more interesting and/or worthwhile, rather than wasting all that time just to save a tiny amount of commission. There were 40 numbers ahead of them in the queue and I think only two clerks. Unless you are changing vast amounts of money (buying a house with cash?) it seems a bit pointless to me.

Israel
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7. Re: Us dollar to shekel is around 4 to 1, I see today its 3.66 t

If you are purchasing shekels from a friend look up the ROE on the day of purchase and give him that amount. The rate changes daily and us going up so you will get more shekels for the dollar.

It us very convenient to use an ATM card but the rate of exchange would be lower than from an authorized money changer. In anycase you can check the representative rate and receive 3-10 agarot less than the published amount. Anything over this is too high do you may want to look for another exchange place particularly if you are exchanging a large some of money.

Chana

Israel

CALI
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8. Re: Us dollar to shekel is around 4 to 1, I see today its 3.66 t

Will most credit cards (visa, mastercard, discover) work at the ATM's with my same pin number as here in the USA?

NYC/Israel
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9. Re: Us dollar to shekel is around 4 to 1, I see today its 3.66 t

Hi!

I live 40-45 % of the time in Israel and the balance in the US. I make 2-3 trips a year. My source of cash is American based so I am constantly changing money! --for both living expenses and maintenance of my Israeli home. Sad reality ( sad for us, good for Israel) the rate has not been 4 to 1 for over a year. If memory serves me correctly the last time I got anything near that was in winter 2011-2012.

Now, my local moneychanger store ( when I used to bring cash) told me he went to globes.co.il for the rate. If you go there, clicking English in the upper left hand corner, if needed, you get a rate. Globes is the Israeli business site. At this moment the rate is 3.658. ( lower right hand corner, and it sometimes disappears for a second or two) That means the money changers would sell me shekels for anywhere from 3. 59 to 3. 63. ( at this moment the post office site says 3.63) They would be selling dollars at a rate of 3.67 to 3.70. ( post office is 3.73. So, the post office gives a good rate BUT as already said, the line can be a killer and unless you are changing huge amounts of money you have to decide if it is worth it.

I now use my TD debit card, with a VISA logo to get money. If I was withdrawing using that card, at this moment I would get the 3.658 listed by Globes. ( no fees or commissions) Of course not every bank pays as well.

In terms of credit cards--if your credit card doesn't work in one bank, it will work in another. ie. my aforementioned card works in Bank Leumi ATMs but not Bank Hapoalim. In terms of PIN numbers, as long as your pin is numerals. If you have letters in your pin make sure you know the corresponding number as Israeli ATM keyboards are only numbers.

Cincinnati, Ohio
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10. Re: Us dollar to shekel is around 4 to 1, I see today its 3.66 t

Another great source for rates (for shekels and every currency in the world) is www.xe.com. There are also mobile apps, even for Blackberry.

Douglas Duckett