The Reform Committee headed by Member of Knesset Rachel Azaria (Kulanu) has approved the Bank Mobilization Reform as part of the Financial Arrangements Law.
Upon entry into force of the law, each bank will be required to allow the customer to transfer to another bank without a commission, within 7 business days and online, without the need for physical access to the branch. An emergency order was added during today's discussion of the reform to put it into effect immediately without waiting for the law to go into effect.