Jerusalem, 30 July, 2025 (TPS-IL) — The Banking Supervision Department of the Bank of Israel today (Wednesday) submitted its periodic 2024 report on the prices of common banking services for households to the Knesset’s Economics Committee. The report is based on data from banks and credit card companies on fees charged during 2024.
Main points of the report:
In 2024, there was a slight decrease in the overall ratio between total income from fees and total banking system assets. This decrease mainly reflects a smaller growth in fee income compared to the growth in the system’s total assets. Fee income rose due to higher earnings from large business clients in securities trading, thanks to increased activity. However, income from individuals and small businesses declined following the assistance program for customers during the Swords of Iron War. In general, the ratio of fee income to total banking system assets has been on a downward trend since the banking fees reform in 2008, with a cumulative drop of around 50 percent. This decline is partly attributed to various supervisory measures taken in the realm of fees over the last few years.
For households, the average monthly cost of maintaining a current account and payment cards stood at 25 Shekels ($7.4) in 2024 — 2.6 Shekels less than in 2023. Most of this decrease was due to the assistance program implemented to help bank customers cope with the consequences of the Swords of Iron War, under which first-degree customers received exemptions from most fees (including current account, information, and payment card fees, though not for foreign-currency transactions or withdrawals).