A cheque is a document that orders a payment of money from a bank account. The person writing the cheque, the drawer, usually has a current account. The drawer writes the various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering the bank, known as the drawee, to pay that person or company the amount of money stated.

Features of the Service

  • Organize financial matters by knowing payment dates
  • Control of account
  • Save customers’ time and effort
  • Reduce use of cash risks
  • Facilitate movement of cash among merchants and customers

Beneficiaries

  • Customers that have a current account
  • Customers  over 18
  • Customers that receive regular monthly salaries
  • Firms and merchants

Terms for Obtaining a Cheque Book

  • Existing current account
  • Holding back of cash margins
  • For employees working in the military service and whose salaries are below ILS 2,000, ILS 500 will be held back, while no money will be held back for those whose salaries exceed ILS 2,000
  • Holding back of ILS 1,000 for ordinary customers
  • No amount will be held back for employees working in the civil government sector whose salaries are transferred to the Bank
  • Customers have to be in any of the categories A or B or E as decided by the  Monetary Authority
  • Submit request for service in the branch or through internet banking