Bank customers finally will be paying lower bank fees in a more simplified system that the Knesset Economics Committee approved on Monday. The new structure will replace a complicated system of more than 300 different fees that Bank of Israel Governor Prof. Stanley Fischer has said has been one of the most difficult things for him to comprehend since he moved to Israel to take his current post.
The new Bank Fees Supervision Law will take effect on July 1, when the new list of fees will be published.