BoI to issue ‘banking ID card’

In order to streamline personal bank-account management, the Bank of Israel is encouraging Israelis to make use of the annual “banking ID card” that will be issued to individuals and small businesses beginning on Tuesday.

The banking ID card is a concentrated report that presents customers of all banks with their activity for the year, in a clear, direct and easy to compare format, a Bank of Israel statement explained. The banking ID card includes information such as account assets, liabilities, total fees paid, standing bank orders and powers of attorney for the account, the statement added.

• Sharon Udasin