IsraTransfer US Domestic Transfer FAQs
Below are some commonly asked questions regarding the transfer of money to IsraTransfer domestically in the USA
What are FedWire transfers?
A FedWire transfer is a method of transferring funds from one account in the USA to another account in the USA. A FedWire is normally received by IsraTransfer the same day it is received. Your US bank will probably charge a small fee to make this type of transfer. (This fee is normally less than wiring the money internationally, and more expensive than an ACH transfer). All US banks should be able to make a FedWire for you.
What is an ACH transfer?
ACH stands for Automated Clearing House. It is a method of transferring money from one US bank account to another US bank account. Not all banks will offer this method of transfer. An ACH transfer is normally free of charge from your bank, BUT it can take up to 4 days for IsraTransfer to receive your money.
Is an ACH transfer the same thing as a wire transfer?
NO. We cannot stress this point enough. As described above they are different methods of transferring money within the US, they take different amount of time for us to receive the money and the cost is different.
If I transfer money to your US account how do I convert the money and send it to Israel?
As an existing client of IsraTransfer you should be used to how the process works. There is NO change in the process of converting your money or any delay in you receiving your Shekels in Israel. The ONLY difference is you are sending money to IsraTransfer locally in the US rather than making an international transfer. Once we receive your money in our US account, your money will be available to convert via our online portal.
What are the costs associated with making FedWire or ACH transfers?
The fee is imposed by your US bank, and differs from bank to bank. You will need to check with your US bank to confirm the costs.
Can a 3rd party send a transfer on my behalf?
If you are not sending the money from your own bank account please contact our office BEFORE making the transfer.
During what hours will I be able to trade my funds?
You can convert your funds between 9am until 5:30pm Israel time Monday to Thursday and 9am until 11am Friday via our online Portal.