”Globes” has learned that Bank Hapoalim has approached the Bank of Israel in order to get permission for a controlling interest in an Internet bank it is considering setting up in the US. Bank Hapoalim reportedly plans to set up a virtual bank which will offer customers full banking services overseas.
Internet banking activity is currently limited in Israel. Banks are not permitted to offer customers credit or transfer money to a third party over the ‘Net.
Bank Hapoalim has the largest Internet activity of all the banking establishment in Israel. It attaches great importance to developing this field and expanding it overseas. The bank has more than 50% of Internet banking activity, and manages 260,000 accounts for 140,000 customers.
The bank’s Internet site provides information and processes the ordering of checkbooks, credit cards, the selling and buying of securities (only Israeli), provident funds and deposits in mutual funds.
Published by Israel's Business Arena on 16 May, 2000