Days that Banking Corporations’ Offices are Open

Supervisor of Banks: Proper Conduct of Banking Business (3/23) [4] Days that Banking Corporations’ Offices are Open Page 401- 1 ONLY THE HEBREW VERSION IS BINDING DAYS THAT BANKING CORPORATIONS’ OFFICES ARE OPEN Introduction

1. The contract between a banking corporation and its customer includes the implied condition
   that the corporation’s offices shall be open every day, except:
   (a) Festivals and official holidays in Israel; (b) Other days on which it is customary to close the offices of banking corporations.
2. It is accepted and customary in the banking system that offices shall be closed to customers
   on January 1 for the purpose of preparing and auditing the financial report. The banking corporations generally inform the public that their offices will be closed on January 1 via the press, other communications media, and notices posted outside their offices. This practice, together with the aforesaid ways of informing the public, should not be regarded as a violation of the contract between the corporation and its customers.
3. It is also customary for banks to close their offices on Purim and the ninth of Av. This practice,
   together with informing the public, should not be regarded as a violation of the contract between the corporation and its customers. Closing offices
4. The public may be informed of the closure of banking corporations by the Association of
   Banks or on behalf of a group of banking corporations or an individual corporation.
5. A banking corporation that closes its offices on days that are not official festivals and holidays
   or on days when it is customary to close banks, as stated, risks violating the contract with its customers.
6. The above principles apply to both the banking corporation and its branches. However,
   situations may arise in which a banking corporation decides to reduce its hours of work in a

Supervisor of Banks: Proper Conduct of Banking Business (3/23) [4] Days that Banking Corporations’ Offices are Open Page 401- 2 ONLY THE HEBREW VERSION IS BINDING branch, or to close it temporarily. In order to minimize the weight of possible claims of damage from customers, banks should act as follows:
(a) In the case of a one-time reduction in the branch’s usual working hours on a normal working day: an announcement should be placed one working day in advance on the bank’s website and at the entrance to the branch. (b) In the case of a temporary closure of a branch for a predetermined period: an announcement should be made at least three working days in advance via the banking corporation’s website and at the entrance to the branch. Within the framework of the above announcement, alternatives should be offered that allow the continued provision of banking services to customers of the branch that is to be temporarily closed.
7. The above principles do not pertain to instances of force majeure, such as the closure of a
branch or branches of a banking corporation that is not at the initiative of the management and was not expected.
8. If a banking corporation decides to make a significant change in a branch’s working hours by
closing it at a time when it previously gave services to the public, it must act as follows:
(a) It shall inform the customers in the branch of the changes at least 30 days before the change is made; (b) It shall offer the customers alternative ways to receive the banking services at the times when the branch is expected to be closed; (c) If, due to the change, a customer decides within 60 days that he no longer wishes to receive services from that bank and wishes to transfer his accounts to another bank, the bank shall offer to implement the transfers without charging a fee. Provision of Service at Branches
9. “A banking corporation shall not prevent customers from entering a branch and receiving
professional service there during business hours, and this, even if they did not make an appointment in advance.”

Supervisor of Banks: Proper Conduct of Banking Business (3/23) [4] Days that Banking Corporations’ Offices are Open Page 401- 3 ONLY THE HEBREW VERSION IS BINDING Updates Circular 06 number Version Details Date 635 Original circular March 28, 1976 1117 Update February 26, 1984 ---- 1 Integration into Proper Conduct of Banking Business Directives file 8/91 ---- 2 Renewed version of of BSD directives file 12/95 2530 3 Revision March 6, 2017 2744 4 Revision March 26, 2023