MK (The Movement) David Tzur feels that for many Israelis wishing to take a minimum amount of cash from an ATM the current reality is intolerable. He explains that at times, one wishes to withdraw 20 shekels for a falafel or a cup of coffee but ATMs will compel a minimum withdrawal of 100 or 200 shekels. He is backing a bill that will compel banks to permit clients to withdraw the smallest bill circulated, 20 shekels.
Tzur explains this is especially pertinent for soldiers and the nation’s young, who do not wish to pull out 200 shekels, which for soldiers is representative of a major portion of their monthly salary.
(YWN – Israel Desk, Jerusalem)
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4 Responses
In the US the minimum is $20 which approximately the same as 100 shekels. So it isn’t much different now in Israel.
have u checked the value of the incredibly shrinking dollar – 20 dollars will only get u about 69 shekels. so make the minimum 50.
Seems like a big ado over nothing to me, I have always been able to take out 50 and possibly even 20 NIS, it just doesn’t seem to be worth it to withdraw a small amount since there is a service charge on every withdrawal…
How many different types of bills should a machine have to hold? It can’t dispense 20 shekel bills for everyone, or it would run out too quickly, because many people want to withdraw larger sums. And to force them to make machines that hold 20s for those buying coffee, and 100s for those making a normal withdrawal, seems silly.