Cash Withdrawals from ATMs

Supervisor of Banks: Proper Conduct of Banking Business (12/05)[1] Cash Withdrawal from ATMs Page 442- 1 ONLY THE HEBREW VERSION IS BINDING Cash Withdrawals from ATMs Introduction
1. The ability to withdraw cash is essential for the public, and the service must
therefore be available at any time and accessible with the appropriate geographical distribution. 2 Until recently cash could be withdrawn only from the banking system, and the fee charged for the service was under supervision for years. Recently companies outside the banking system have started to offer the service, and the price they charge is not under supervision.
3. In order to permit the banking system to compete with those outside the banking
system providing cash-withdrawal services to the public, the control over the price for the service has been removed in cases where the service is provided at a location not within the premises of the branch and at least five hundred meters from it.
4. In the light of the essential need for the service and for it to be available and
accessible, this directive ensures that the banks will continue to provide the service close to their branches at a controlled price. Applicability
5. This directive shall apply to banks.
Definitions
6. “Branch”- Excluding a mobile branch or temporary branch.
Cash withdrawal
7. A bank which has ten branches or more and ten thousand or more current
accounts shall enable its customers to withdraw cash via an automatic teller

Supervisor of Banks: Proper Conduct of Banking Business (12/05)[1] Cash Withdrawal from ATMs Page 442- 2 ONLY THE HEBREW VERSION IS BINDING machine (ATM) by installing such a machine in an external wall of each of its branches, or within a distance of five hundred meters from them.
8. If such a bank considers that it is unable to fulfill the requirements of section 7
above with regard to a particular branch, it may submit a reasoned request in writing to the Supervisor of Banks to exempt it from the need to comply with the directive for that particular branch.

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