Bank Hapoalim announced on Sunday that it would limit the US dollar exchange rate at NIS 2.89 for qualifying Israeli cardholders throughout the summer travel season. This offers registered customers protection from currency swings on foreign and online purchases.

The initiative starts June 15 and continues until August 31. It covers international online buys, overseas retail payments, and ATM withdrawals using eligible Bank Hapoalim credit and debit cards.

Users need to sign up ahead of time via the bank online campaign site. The offer applies to private individuals and non-corporate business clients holding active credit or debit cards issued by the bank.

How the dollar cap will work

If the dollar climbs past NIS 2.89, Bank Hapoalim will cover the gap and refund the customer. If the dollar drops under that level, users will get the better market rate automatically.

The limit applies to a total monthly amount of $5,000 per customer or up to $15,000 across the full campaign, according to the bank.

The adjustment will be credited automatically as cashback in Israeli shekels to the card. Reimbursements will show on October 2026 statements.

Customers planning summer trips abroad should enjoy greater certainty without concern over shifting foreign exchange rates, said Pazit Garfinkel, deputy CEO and head of Retail Banking at Bank Hapoalim.

This step uses the bank resources to shield consumer spending power from sudden rate moves. If the dollar goes above NIS 2.89, the bank covers the extra cost. If it falls below, customers gain from the improved market rate.

Part of broader customer-benefits push

The program follows other recent Bank Hapoalim efforts such as share or cash payouts to over one million clients, trading fee refunds for young people and students, and a NIS 500 savings grant for families on child allowances.

The bank has widened relief measures in recent years including mortgage support and other consumer programs. In January it completed a $2 billion overseas bond sale, its largest such deal to date.

Registration required

Joining the summer dollar cap effort depends on bank terms and needs advance sign-up on a first-come basis, the bank said.

Customers who do not settle card balances or loan payments on time may incur late fees and face legal steps.