Cash Now- GMT’s Local Money Transfers Service
A fast, easy & legal services of cash transfers & deposits in Israel.
The New Cash Limitation Law came in to effect on January 1st, 2019.
Among other things, the law stipulates that payment in cash for a product or service in amounts exceeding 11,000 NIS is a criminal offense, and in transaction above that amount, only up to 10% of the total amount can be paid in cash.
In a transaction between two individuals above the amount of 50,000NIS, both can pay or receive cash payment only up to 10% of the transaction price or 50,000 NIS, whichever is lower.
As stated, following the law such payment for a product or service in cash may expose you to the commission of a criminal offense.
Cash Now – offers you a fast, easy & legal solution.
How simple is it?
Transfers can be made in two ways:
A cash deposit directly to your beneficiary’s bank account:
You can deposit NIS to any bank in Israel.
We will notify the beneficiary of the transfer.
The money will be credited to the beneficiary’s account within two business days.
(When making the deposit, the sender must provide the account name, bank name, branch number, and account number)
* You can deposit up to 10,000 NIS a day.
A fast cash transfer:
Quick cash transfers can be made and withdrawn at any of our branches.
When submitting the transfer, you must provide the ID and the name of the beneficiary.
When withdrawing money from a GMT branch, you must obtain the secret code that was given to the sender.
(You need to know the transfer amount and sender’s name)
This transfer is ready for immediate payment.
* You can transfer up to 10,000 NIS in one transfer.
Business owners – Cash Now for Businesses allows you to receive cash from customers in a simple, convenient and legal way. For more information click here.