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Types of Account

Account For Teachers

If you work in education, it is worth your while to open an account at Mercantile and enjoy a range of benefits for 5 years.*

Account management benefits

  • Teller-executed transactions: 50% discount.
  • Direct channel transactions: 100% discount.
  • Minimum fee: 30% discount.
  • Two free checkbooks a year.

Credit cards

Exemption from credit card fees excluding the following cards: Extra Family, Extra Home, Fly Card, Visa Infinity, and cards attached to the High Miles Club.

Foreign currency

  • 50% discount on exchange fees when buying or selling foreign currency.
  • 0.9% discount on buying or selling foreign currency in cash (rate benefit).

Securities

  • Fee for buying or selling Israeli securities on the Tel Aviv Stock Exchange: 0.25% (subject to minimum fee).
  • Fee for buying or selling securities traded abroad, including bonds / gold / silver / options: 0.35% + agent fee (subject to minimum fee).
  • Management fee for Israeli-traded securities account: 0.100% per quarter (subject to minimum fee).
  • Management fee for internationally-traded securities account: 0.125% per quarter (subject to minimum fee).
  • Fee for transfers from other banks: full refund.

Credit and loans

  • Exemption from credit allocation fee.
  • Bridge loans on attractive terms (only for clients depositing salaries).

Notes

* Qualifying terms for group membership:

* To join the group and receive the attendant benefits, clients must present documents verifying their eligibility as required by the bank.
* To join the group, clients must deposit salaries through Masav with the bank. Should a client stop depositing the salary, the bank will have the option of removing the client from the group in accordance with the terms on the sign-up form.
* All terms and benefits regarding bank fees are relative to the bank’s fee schedule.
The benefits are valid for a period of 5 years after opening the account.
Lines of credit are contingent on the branch manager’s approval and subject to suitable client guarantees.
* Failure to repay the loan is liable to incur interest on arrears and trigger a lien filing process.