Israel Discount Bank (TASE: DSCT) is revising its bank charges. On August 15, Discount Bank will raise its per transaction charges for business customers by 3.3%, from NIS 1.21 to NIS 1.25. The transaction charge is the most basic charge in managing an account.
Discount Bank also announced a 9.5% increase in its charge for printing commercial checks. There are many kinds of commercial checks, each with a different price; the announced increase is the average.
Bank Hapoalim (LSE: BKHD; TASE: POLI) charges business customers NIS 1.28 per transaction, and Bank Leumi (TASE: LUMI) charges NIS 1.21, the same as Discount Bank before the increase.
The transaction charge has stirred a public controversy in recent months among private customers, who discovered its existence after the disclosure rules were extended. The Bank of Israel and the Knesset are discussing the matter.
Although measures such as price controls on bank charges have not been instituted, some of the banks, including Discount Bank, have canceled transactions charges for customers choosing a basket of charges.
Published by Globes [online] - www.globes.co.il - on August 2, 2004