By Rabbi Yair Hoffman for 5tjt.com
Next week many young ladies will be flying to Eretz Yisroel for seminary. Today, then, is probably the last day that something very important must be done.
All of the banks, it seems, charge a significant amount of money for every transaction that is made in Israel. All of them except one – Capital One. So it pays to open up an account there for people that are going to be in Eretz Yisroel for the year. Indeed, many people are now doing so.
This information is being relayed in order to fulfill a Mitzvah. It is called the obligation to be “chas al mammon yisroel” – a fulfillment of the Torah Mitzvah of “v’ahavata larayacha kamocha.”
The Gemorah in Moed Katan 27b tells us that when Jews were burying their dead in the finest clothing, Rabban Gamliel HaZakain arose and declared that enough was enough. The rising pressures, the “keeping up with the Joneses” in how to dress the deceased was causing enormous economic pressure on the living. “It must stop,” declared the rabbi, and the tachrichim, burial shrouds, we now use became the norm.
BOYCOTTING FISH
The great Tzemach Tzedek (of 17th century Poland), cited by the Mogain Avrohom in the beginning of hilchos Shabbos, once ruled (responsa #28) that when local fishermen collude and lift up the price of fish excessively, a prohibition can be levied upon the consumption of fish on Shabbos. It may take a week or two or even three, but eventually the collective buying power of ordinary people would force the price back down.
OBLIGATION UPON EVERYONE
We will see, however, that it is not just great Torah leaders who have saved and are concerned for the financial well-being of their fellow Jews. It seems that this is what is expected by the Torah of everyone.
The Gemorah (Menachos 76a) tells us that Hashem commanded Moshe to also feed the nation’s livestock from the water that He had caused to come out from the rock at Mei Merivah. Also, Rashi (Rosh Hashanah 27a) points out that the kohain first removes the vessels from the house before declaring a house impure. So we see examples of the Torah being concerned with the financial well-being of the Jewish nation.
FOR THE PUBLIC AND FOR PRIVATE INDIVIDUALS
The difference between the two cases is that the former is for the entire nation, while the latter demonstrates that the Torah is concerned even for the individual’s finances.
SOCIAL NORM AND TORAH OBLIGATION
The Chasam Sofer on Bava Basra (54b) states that, generally speaking, one can make the assumption that fellow Jews are concerned with the monetary well-being of their fellow man, and that this assumption has legal ramifications. So we see that it is the normal behavior expected of all Jews.
Rabbi Yaakov ben Asher, author of the Tur, discusses (in the Choshen Mishpat section of Shulchan Aruch, chapter 35) a person who does not care about Jewish money. He writes that such a person will, in the future, surely answer for it. The Minchas Chinuch writes that one who is concerned about the preservation of his fellow Jew’s money fulfills the Biblical commandment of v’ahavta l’rei’acha kamocha (see his commentary on that mitzvah).
The clear indication from these sources is that demonstrating concern for the financial well-being of others is not just a mitzvah, it is an expected social norm with reward for those who do it and punishment for those who do not.
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5 Responses
Charles Schwab also has a checking account that doesn’t charge a fee for overseas withdrawals.
PSA, I noticed a fraudelent transaction on my checking account. Someone used my debit cart to charge $1472 for a Disneyland ticket. After a dispute and the bank crediting my saving account and replacement of my debit card, I was refunded the money by the merchant. So, monitor your account when doing onlne transactions.
Should be above debiting the savings account, removing the amount as their insurance.which was restored later and the replacement of my debit card, I was refunded the money by the merchant.
Tizkeh l’mitzvos!
Just wanted to add:
1) I believe it is specifically the online/web-based Capitol One Bank, called “Capital One 360,” which operates, I believe, basically separately from Capital One itself.
2) Re: @pinay’s important comment above: I just wanted to say that Capital One 360 is clearly far, far more popular than Schwab among the Anglo community in Artzeinu Hamehullalah. Schwab may be just as good — I have no idea — I just know it is far less commonly used than Capital One 360. So if that is a factor for people when making a choice, they should keep it in mind.
3) Random point regarding money in Artzeinu Hamehullalah: If you see that your Zelle refuses to transfer instantly and the Zelle or bank reps have no clue how to help you, ask them to check over every single address associated with your account. If you ever used even a single one-time mailing address from Israel, for a new/replacement debit card, for instance, Zelle may sense that and decide uou are not fully “in America.” It’s not an issue; the rep can presumably wipe the address — they just will likely not realize they should look for it. (As you may have guessed, I am speaking from experience.)
Reb Eliezer:
Better to never use a debit card (other than as a normal ATM card for cash withdrawals) and use a credit card for purchases instead.