עברית
Money and banks

The tools that save people moving abroad the most money: Revolut, Wise and IBKR

When you move countries, your Israeli bank charges a fee on every transfer plus a margin on the exchange rate, and a local bank can take weeks to open an account. Revolut and Wise fix both: an account in minutes from your phone, a card that works everywhere, and cheap, transparent currency exchange.

🔗 Transparency: the links on this page are our referral (affiliate) links. If you sign up through them we may get a reward from the company, at no extra cost to you. I only recommend what I know.

Revolut

Your everyday account: card, payments and currencies in one app. According to Revolut, more than 80 million people already use it.

  • An account in minutes from your phone, no branch appointment.
  • Many currencies in one account: hold euros, dollars and shekels, and exchange between them in the app.
  • A card that works worldwide, plus a virtual card for online shopping and Apple Pay / Google Pay.
  • Instant transfers between Revolut users, and easy bill splitting with friends.
  • A licensed bank in Europe: in the European Economic Area, deposits with Revolut Bank UAB are insured up to €100,000 per customer (Revolut's information ↗).

Best for: your first account after you arrive, before the local bank is ready, and everyday spending.

Join Revolut with my link →

You open an account with an address in a country Revolut serves (most of Europe and more), so usually after you arrive. Fees and exchange limits depend on the plan, and weekend exchanges cost extra.

Wise

The way to move money between countries: at the real rate, with the fee shown upfront.

  • The real exchange rate (the mid-market rate you see on Google), with no hidden margin.
  • A transparent fee shown before you confirm, so you know exactly what arrives on the other side.
  • A multi-currency account: hold dozens of currencies and get local account details (for example a euro IBAN) to receive a salary or payments like a local.
  • A Wise card that pays in the local currency from your balance.

Best for: moving your money out of Israel, keeping income in shekels or dollars, and paying rent or a deposit abroad.

Join Wise with my link →

Wise is not a bank but a regulated money institution: your money is safeguarded, but that is not bank deposit insurance. Check on their site which services are available where you live.

Interactive Brokers (IBKR)

The tool for converting large amounts from shekels to dollars, close to the interbank rate.

  • No markup on the rate: you convert at the market rate and pay only a visible commission of 0.2 basis points (0.002%), minimum $2 per conversion (IBKR pricing ↗).
  • The bigger the amount, the bigger the saving: on ₪100,000 the commission is a few dollars, against hundreds or thousands of shekels of bank margin.
  • The money stays in dollars in the account, and you send it on to your account abroad. One withdrawal a month is free.
  • A large, regulated broker that is also used for investing, but you can use it just to convert.

Best for: large amounts (savings, selling a flat, a deposit) that you convert once or twice, not everyday payments.

Join IBKR with our link →

Opening the account takes a few days (identity check and questionnaire), so open it before you need it. IBKR is a broker, not a bank. Nothing here is an investment recommendation.

How to convert shekels to dollars at the best rate

  1. Check what your bank takes: compare the bank's rate with the official rate at that moment. The gap (the spread) is the hidden fee.
  2. Up to a few thousand dollars: Wise, which shows upfront exactly what will arrive, at the real rate.
  3. Large amounts: IBKR. Send shekels from your Israeli bank to your IBKR account, convert to USD in the platform (currency conversion, USD.ILS), and withdraw the dollars to your account abroad.
  4. Before the big amount: send a small test transfer to check the details and see what the banks along the way charge.

Your Israeli bank and the receiving bank may also charge a transfer fee, which isn't part of IBKR's or Wise's fee. Prices as of October 2026: check the current price before every conversion.

How I use both

  1. Before the move: open Wise and compare what a sample transfer costs against your Israeli bank's offer.
  2. On arrival: open Revolut with your new address, and get a card for everyday use from the first week.
  3. Large transfers (savings, a deposit for a flat) go through Wise; everyday spending goes through Revolut.
  4. You still need a local bank: a mortgage, credit and sometimes a lease require one. The digital apps don't replace it, they get you through until it's ready.

This is general information from my own experience, not financial advice. Fees, rates and terms change: check the current price in the app before every transfer. For tax questions about moving money, talk to an accountant who knows both countries.

More for your move

Your moving checklist → · Accountants and financial advisers → · 🤖 Ask the relocation assistant →