Bank Leumi (TASE: LUMI) today announced three new plans for checking accounts, with monthly fees ranging from NIS 10 to NIS 35. It has also announced a new digital only plan, with no fee at all. The bank is following Bank Hapoalim (TASE: POLI), which cut its checking account fees last week. The new plans will begin operating in April and May.
Last Wednesday, Bank Hapoalim was the first bank to cut its checking account fees, after Supervisor of Banks David Zaken intervened in the matter, and capped the monthly fee for the basic plan at NIS 10 a month.
Bank Leumi is offering three regular checking account plans: Digital Leumi, at NIS 10 per month, which allows ten direct transactions and one teller transaction a month in the account; Digital Leumi Plus, at NIS 20 per month, allows up to 20 direct transactions and 10 teller transactions a month; Digital Leumi Top, at NIS 35 per month, which allows 50 direct transactions and 10 teller transaction a month in the account. Digital Leumi Top customers will also receive a free credit card and package for receiving and sending SMS and notifying the bank via WhatsApp.
The new Digital Leumi Total plan, carries no monthly fee, allows unlimited direct transactions, but does not include any teller transactions in the customer's account. Customers manage their accounts online, via a smartphone app, ATMs, and self-service points. Customers will also receive discounts on management fees and transaction fees in Israeli securities.
Published by Globes [online], Israel business news - www.globes-online.com - on March 27, 2014
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