We noticed that you're using an unsupported browser. The TripAdvisor website may not display properly.
We support the following browsers:
Windows: Internet Explorer, Mozilla Firefox, Google Chrome. Mac: Safari.

Currency

Which Tel Aviv hotels are on sale?
dd/mm/yyyy dd/mm/yyyy
See hotels
Level Contributor
1 post
6 reviews
Save Topic
Currency

Hi Guys, going to Tel Aviv at the end of September from the UK. Where is best to get currency? I have read it is best to get it over there?? Anyone able to kindly give their advice for best exchanhe rate please? :-)

NYC/Israel
Destination Expert
for Israel
Level Contributor
35,409 posts
35 reviews
Save Reply
1. Re: Currency

You know the answer. It is best to get currency over here. The best place is generally said to be from ATMS . ( at least when using American debit cards) If the fees on your British cards are very high, then you can use legal money changing shops that are all over the place. Furthermore, unless you are going to be changing huge amounts of money, the difference with a few points becomes meaningless.

i.e. I do not know the pound sterling rate but you change dollars at 3.48- 3.52 or so ( at this moment). Difference is nothing unless changing thousands of dollars.

Israel
Destination Expert
for Israel
Level Contributor
14,450 posts
272 reviews
Save Reply
2. Re: Currency

Definately exchange in Israel. Sterling is about 5.99 shekels right now but changes daily. You can exchange some cash at the airport and as needed throughout the country. Or just withdraw cash shekels from any ATM machine.

Chana

Israel

israel
Destination Expert
for Tel Aviv, Galilee, Israel
Level Contributor
14,815 posts
62 reviews
Save Reply
3. Re: Currency

ATM are fine. The best place to change are the change shops that are "everywhere" near tourists venues and main streets. Change some at the airport or take from the ATM. You need it to pay for transport, drinks etc...

Gippsland, Australia
Destination Expert
for Jerusalem
Level Contributor
6,333 posts
89 reviews
Save Reply
4. Re: Currency

If you can't get the ATM to work (international cards don't work at all of them) then go to the large bank opposite the Dizengoff Centre in Tel Aviv. One of the ATM's there does accept international cards.

Cincinnati, Ohio
Destination Expert
for Israel
Level Contributor
14,357 posts
188 reviews
Save Reply
5. Re: Currency

This advice is dead on. Use the ATMs in Israel unless your home bank fees are exorbitant. If they are and you are a long-time, good customer, ask them to waive them. The Fifth Third Bank in Cincinnati, Ohio, USA does so for me -- but I do both my personal and business banking there, so they like me. :-) (And isn't that one of the best bank names ever?)

It's so convenient that I can't imagine another way of doing it.

Douglas Duckett

Spending a Labor Day weekend in Fort Lauderdale, Florida

Edited: 29 August 2014, 22:00
Tel aviv
Level Contributor
11 posts
17 reviews
Save Reply
6. Re: Currency

well, the most important advice is NOT to change at the airport and no from one of the change office's which is located in the malls. the commercials banks charge a commission. the ATMS are a good choice I think.

NYC/Israel
Destination Expert
for Israel
Level Contributor
35,409 posts
35 reviews
Save Reply
7. Re: Currency

The airport pays a slightly poorer exchange rate than the ATMs. ( and you have to verify your banks added fees, YOUR bank, btw decides the exchange rate--not the israeli bank)

So, if I go to the airport and change $100 American and I change $100 American at a change place in town I may get 3.45 instead of 3.50 shekels to the dollar. At that rate a shekel is worth 28.98 cents at the airport and 28,57 cents in town. SO--when you figure you get 345 shekels compared to 350 shekels you are behind 5 shekels or slightly less than $1.45. Therefore unless you are planning on changing hundreds and hundreds of shekels, there is no reason not to change at the airport.

Commercial banks end up giving a poorer rate than anyone else. BUt charge commission or not--you look at the bottom line--and commercial banks are not good alternatives.

Israel
Destination Expert
for Israel
Level Contributor
12,551 posts
Save Reply
8. Re: Currency

Put it like this. Assuming you are a tourist, in Israel for a visit of perhaps two or three weeks, spending the amount of money that is usual for that kind of visit, it is absolutely not worth going crazy looking for the absolutely best exchange rate. Your limited time in the country can be spent in better ways than standing for ages in a queue at the post office or wherever that you have been told (maybe) offers a better rate, or running up and down till your hair falls out looking for that elusive money changer that your friend's cousin so wholeheartedly recommends. The TOTAL difference in the rate on the couple of hundred dollars/pounds/euros that you are changing will amount to the cost of a few cups of coffee, if that. And you probably won't even be changing as much as that. You won't be paying for hotels, car rental, etc. in cash, I assume, so it's only meals, bus/train fares, entrance to museums etc., and souvenirs. For large purchases, and even most restaurants, you can pay with a credit card.

Differences in exchange rates are of course very significant if you are buying a house or a car. I assume that is not the case...

UK
Level Contributor
365 posts
Save Reply
9. Re: Currency

Well said Shuffaluff, don't want any tourists to lose any hair over currency :-) but seriously I agree dont waste holiday time running around looking for best exchange rate, not a good way to enjoy your holiday. I always use ATM and UK bank fees arent exorbitant. Just hope the poss Scottish vote for independence doesnt devalue the pound much and give you less shekels in your exchange!

Tel-Aviv
Destination Expert
for Tel Aviv
Level Contributor
9,044 posts
12 reviews
Save Reply
10. Re: Currency

For comparison purposes you can always check online the current rate being offered by the Post Office (no commission):

http://tinyurl.com/nh6mcrl

The currency exchange stores usually have a slightly better rate, shorter lines and longer hours.