Regulatory Alerts2015-06-21
Added
The Tracks Service
The Bank of Israel requires banking corporations to provide new current account customers with an explanatory page detailing the tracks service prices and how to join, and to obtain their approval on the chosen charging method. For existing customers wishing to join, banks must provide written information on fees collected during the preceding quarter. Additionally, banking corporations must publish a link titled “Fees—the Tracks Service” on their website homepage. These requirements apply beginning January 1, 2016, except for the website link requirement which applies from August 1, 2015.
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